Business · Trade · 49 mins ago

Mexico’s auto production and exports post their steepest drops since 2021

Mexico’s auto production and exports post their steepest drops since 2021

Mexico’s auto production and exports fell sharply in October, with annual declines of 17.7% and 17.9%.

The drops were the deepest for both measures since October 2021, during the Covid-19 pandemic.

Automakers assembled 302,803 light vehicles, as companies including General Motors, Nissan and Volkswagen cut production.

Changes to factory operations and lower demand for some models contributed to the declines.

US tariffs of 25% on imported vehicles also affected exports, with 258,137 cars shipped abroad in October.

General Motors’ exports fell 47%, the largest decline among the listed automakers.

Some manufacturers are preparing production lines for new models in 2027, but no broader recovery timeline was given.

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