Sales of cars and other light vehicles in Mexico grew at an interannual rate of 139% in April 2021, to 83,611 units, Inegi reported this Friday.
According to preliminary figures, Mexico’s GDP decreased 8.2% in real terms during 2020, reflecting the negative economic effects of the Covid-19 pandemic and months of production and mobility restrictions implemented in certain states.
However, the third quarter of 2020 saw a revival in economic activity, which continued into the fourth quarter of 2020, albeit at a more moderate pace.
Among the companies that had the highest level of units in the sales of cars and other light vehicles last April are: Nissan (17,393), General Motors (12,616), Volkswagen (8,752), Toyota (6,908), Kia (6,451), Mazda (4,482) and FCA (4,401).
Sales of cars
In Mexico, the weighted average rate of automotive loans is three times lower than the rate of credit cards and personal loans and two times lower than the rate of payroll loans, according to data from the Mexican Association of Automotive Distributed (AMDA).
Likewise, 60.96% of the automotive portfolio during 2020, ranged at a rate level of 12 to 17 percent.
In the accumulated from January to April 2021, the sales of cars and other light vehicles were 342,650 units, an advance of 3.3% year-on-year.
In general, the automotive industry is distinguished by having long-term growth, but it is also subject to seasonal cycles and can experience volatility in the short term.
Macroeconomic and other factors, such as consumer confidence, employment and household income trends, interest rates, OEM and dealer sales incentives, and the cost of fuel, drive demand and vehicle production.
Until March 2021, the annualized sales of cars and other light vehicles were 911,661 units, that is, the sum of the 12 months from April 2020 to March 2021.
Thus, in this accumulated, there is a decrease of 28.9% compared to the same period 2019-2020 when it closed with one million 281,610 vehicles.
On the other hand, with respect to the accumulated of 12 months immediately before (March 2020 to February 2021), sales increased 0.88% with 7,972 additional units. This indicator was higher by 3.26 percentage points compared to the immediately previous period.