Japan, Mexico, and Canada ranked as the top car exporters to the United States market in the first quarter of 2020, according to data from the Census Bureau.
From January to March of this year, the US market imported cars worth $ 39.037 million, a 10.7% drop year-on-year.
Japan shipped cars worth $ 8.668 million to that destination, followed by Mexico ($ 8.615 million) and Canada ($ 8.015 million).
Subsequently, South Korea, Germany, the United Kingdom, Sweden, Italy, China and Austria remained.
U.S. consumers purchased 17,480,000 light vehicles in 2019, a 10.7% decrease, at the annual rate.
Overall, car sales in the United States have hovered around 17 million units for several years, with the all-time high reached in 2016, when the figure reached 17 million 866,000 units, according to data from the International Organization of Vehicle Manufacturers. (OICA, for its acronym in English).
In fact, a cyclical recession began in 2016 when the Federal Reserve began a rate adjustment cycle that lasted until 2018. An unprecedented fiscal stimulus through the 2017 Tax and Job Reduction Act temporarily boosted auto sales of 2018 before disappearing again.
Other car exporters to the US market were Thailand, Brazil, South Africa, and Taiwan.
In the first quarter of 2020, the United States exported cars worth $ 12.61 billion, a decline of 2.4% year-on-year.
The auto industry has traditionally been one of the largest employers in the United States, and therefore the recovery in the industry has been a major contributor to job growth and the overall economic recovery in the United States.
Several factors, such as productivity and a favorable investment climate, make the United States a logical export base for vehicle manufacturers, even as the United States faces increased competition to attract manufacturers from countries like Mexico.