Mexican auto production falls for second year running -Breaking
MEXICO CITY (Reuters – Mexico’s top industrial sector is struggling to overcome pandemic shocks as well as a worldwide semiconductor shortage. Official data revealed that Mexico’s auto manufacturing fell by 2% last fiscal year compared with 2020.
According to data published by Mexico’s National Statistics Agency (INEGI), the auto production in 2021 fell to 2,979 276 cars from 3,040178 last year.
However, exports did show a slight uptick in the sector, with 2,706,980 vehicles being sent abroad in comparison to 2,681,806 for 2020. That’s almost one percentage more.
Production fell 16.51% in December, while exports plummeted 17.31%. This was the sixth month with consecutive declines.
In response to a global shortage of semiconductors in the last months, automakers across North America and Mexico have implemented rolling shutdowns that reduce production.
Due to the economic impact of the pandemic, Mexico’s auto production plummeted 20% in 2020. Mexico’s leading automakers association AMIA believes that the production levels won’t recover to their pre-pandemic state until either late 2023 or early 2024.
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