Sector’s production also increased significantly driven by stronger shipments
Mexico’s automotive exports to Europe jumped 189.3% year-on-year in February, daily El Economista reported citing figures released by the local Association of the Automotive Industry (AMIA).
Sector’s shipments to Africa and Asia also soared 349.3% y/y and 75% y/y, respectively. The United States, however, remained the main destination of Mexican auto sales, as it accounted for 74% of the total exports in February.
Mexico’s automotive exports increased by 11.2% y/y during the analyzed month, up 5.7% compared to the hike scored in January. This significant improvement of sector’s shipments explains the stronger automotive production in January (+6.1% y/y) and February (+6.2% y/y).
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