At the close of the first half of 2024, the automotive industry in Mexico reached its highest level of production and exports since the same period in 2019, according to the National Institute of Statistics and Geography (Inegi).

According to the Administrative Registry of the Automotive Industry of Light Vehicles (Raiavl), conducted by Inegi, light vehicle production in Mexico reached a volume of 1,996,136 units, representing an annual growth of 5.24 percent. The assembly level achieved by the industry in the first half of the year was the best in five years, compared to the two million vehicles produced in the first half of 2019.

Light trucks represented 75.5 percent of the total produced, while the rest corresponded to the manufacturing of automobiles.

Meanwhile, the national industry exported 1,721,852 light vehicles during the January-June 2024 period, marking its best export performance for a similar period since 2019, when 1,767,755 units were exported. Year-on-year, exports grew by 10.66 percent compared to the first half of 2023.

Inegi noted that during January-June 2024, 708,650 light vehicles were sold, an increase of 11.94 percent compared to the same period last year, marking the best first half since 2017.

The Inegi report, which comes from 23 companies affiliated with the Mexican Automotive Industry Association (AMIA), Autos Orientales Picacho, Giant Motors Latin America, and Great Wall Motor Mexico, specified that 344,206 units were produced in June, representing a monthly decline of 5.85 percent but an annual increase of 3.77 percent.