General Motors auto exports from Mexico fall 10.2%
General Motors (GM) auto exports from Mexico registered a 10.2% year-on-year drop in August, adding 71,797 units (light vehicles), Inegi reported this Friday.
General Motors is the leading company in auto exports from Mexico.
In that month, auto exports from the entire Mexican sector decreased 8.6% year-on-year, to 257,610 units.
Globally, Covid-19 and government actions and measures to prevent its spread have affected the operations and businesses of the automotive sector in several significant ways.
In response to Covid-19, General Motors previously suspended most of its global manufacturing operations and the manufacturing operations of its Automotive China joint ventures.
By April 2020, it fully resumed manufacturing operations of its automotive joint ventures in China. Starting in May 2020, it restarted its critical manufacturing operations in North America and continues to take steps to increase production and replenish dealer inventories.
Government-imposed restrictions on business, operations and travel and related economic uncertainty have impacted demand for vehicles in most global markets.
Auto exports
Among the main exporters from Mexico, foreign sales also fell in the following cases: FCA Mexico (-21%), Ford Motor (-79.8%), Nissan (-18.5%), KIA (-34.1%), Audi (146.9 %) and Honda (-21.4 percent).
On the contrary, auto exports grew in these companies: Volkswagen (32.1%), Toyota (13.8%), Mazda (224.2%) and BMW Group (132.4 por ciento).
General Motors expects Covid-19 to continue to materially impact its results of operations for the remainder of 2020.
In response, the company is executing a series of austerity measures, including aggressive actions to cut costs, such as limiting advertising and other third-party expenses, deferring compensation for salaried employees, and delaying non-critical projects, including certain future product programs. .
