Mexico's motor vehicles exports hit record $56 Bn in 2023

 Mexico is the world's third biggest exporter of motor vehicles.  As per Mexico import export data, Mexico made a record $56 Billion worth of motor vehicles exports in 2023. These include motor cars, SUVs, trucks, etc. In October, Mexico recorded the highest revenue on vehicles exports which is estimated to be over $5.8 billion.

The United States was the leading importer of motor vehicles from Mexico in 2023. The United States accounted for over 70% of the Mexican vehicles imports and imports recorded to be $38 billion in 2023. Germany was the second biggest importer of Mexican vehicles with imports around $6.2 Billion during 2023. 

Canada was the third biggest importer for Mexico's motor vehicles imports with 6.6% market share. Brazil, Colombia, England, Japan, Australia, South Korea and China were the top markets for Mexican vehicles.

There was some notable amount of Mexican vehicles export shipments to Taiwan, UAE, Saudi Arabia and Chile during last year. Ford Motor Company, Nissan Mexicana, And BRP Mexico accounted for the maximum number of vehicle shipments in 2023.    

Mexico import data shows that the country’s vehicle imports were estimated to be around $22 billion in 2023. During October 2023, the highest number of vehicles import shipments worth over $2.6 billion were recorded.   China was the biggest exporter of motor vehicles to Mexico responsible for over 23% market share. 

The United States and Brazil were the other two major vehicle exporters to Mexico accounting for 28% share of Mexico vehicle imports. Whereas, Japan, India, Germany, and South Korea were among the fastest growing markets for Mexico's vehicle imports. Chrysler De Mexico was the biggest import company from Mexico responsible for over 10,000 motor vehicles imports during 2023.

General Motors De Mexico, Volkswagen De Mexico, and Nissan Mexicana were other significant motor vehicles importers from Mexico. As per Mexico export data, the country's motor vehicles parts exports were recorded to be $50 billion in 2023. 60% of Mexico's overall motor vehicles parts exports were to the United States, reaching over $31 billion. 

Some of the major markets for Mexico's motor vehicle parts were China, Canada, Brazil, South Korea and Argentina. AAM Driveline from Mexico was the biggest auto parts supplier with exports over $2 billion in 2023. 

Frenos Y Mecanismos, Adient Mexico Automotriz and Calsonic Kansei Mexicana were among the prominent automotive parts exporting companies from Mexico for fiscal year 2023. On the other hand, automotive parts imports of Mexico were $36 billion during last year. The majority of these imports came from the United States, China and Germany. 

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