Mexico's automotive exports drop 2.8% y/y in September
Mexico's total vehicle exports, including cars, trucks and auto parts, fell 2.8% year-on-year in September, recording its first decline since 2016, local daily El Universal reported.
The decrease is mainly explained by the negative impact of General Motors strike on the Mexican plants of the company, the analyst from Banorte, Juan Carlos Alderete, said. The expert also warned that the strike would probably affect the local sector's shipments even more in October.
The US company accounts for approximately 25% of Mexico's automotive and truck exports, according to figures released by the Mexican Automotive Industry Association (AMIA).
El Universal also informed that Mexico's total exports went down 1.3% y/y to USD 37.222bn in September.
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