Mexico's Automotive Trade 2023 Outlook

 

Mexico is the world’s 5th biggest exporter of automotive products after Germany, United States, South Korea and Japan. As per Mexico import export data, the overall automotive products exports recorded to be $175 billion during fiscal year 2023. Whereas, in 2022, Mexico’s automotive exports were $155 billion. It shows a notable increase in Mexico’s automotive exports.

These include Motor vehicles exceeding 1500 cc, delivery trucks,vehicle parts like drive axles, brakes, cylinder piston, etc.The notable amount of growth in Mexico's automotive exports was seen during september, october, and november 2023, that was around $15.8 billion, $15.7 billion and $15.1 billion respectively. In 2023, the United States was the biggest importer of automotive products from Mexico. 

Around 69% of Mexico's automotive exports went to the United States. Mexico export data suggest around $104  billion worth of automotive exports in 2023. Among the fastest growing markets for Mexico's automotive exports were China, Canada, Germany, Brazil and Colombia. 

The top Mexican automotive products exporting companies were Chrysler De Mexico, Audi Mexico, Daimler Vehiculos and General Motors were the leading automotive export companies from Mexico responsible for the maximum number of shipments last year. 

In terms of automotive imports, Mexico has made around 44 million shipments. According to Mexico import data reports, around $84 billion worth of automotive exports from Mexico were recorded in the fiscal year 2023. There was a comparable amount of increase in the automotive imports from Mexico as compared to fiscal year 2022. 

In 2022, Mexico imported around $75 billion worth of automotive products. The United States was the leading supplier of automotive products with around $22 billion worth of shipments in 2023. Also, there was a notable increase in the automotive imports from China, Japan, Germany and Canada.

Mercedes Benz, Volkswagen, Ford Motor and Audi Mexico were the leading automotive import companies from Mexico. SAIC Motors, Ford India from the United States and Kia Motors from Japan are the leading automotive suppliers to Mexico with the highest amount of automotive exports shipments.

Cars were the most exported items from Mexico. According to Mexico customs data, over $57 billion worth of car exports were recorded in 2023. There were over 151284 shipments of cars exported during last year. The top markets for Mexican cars were respectively the United States (71%), Germany (11%), Canada (6.9%) and Brazil (1.2%).

The leading car export companies from Mexico were Nissan Mexicana, Ford Motor, Alcoa Wheel and North Pole Star. Whereas, trucks were other major exports from Mexico. Trucks exports from Mexico were estimated to be around $38 billion during FY 2023. Over 112,778 shipments of trucks were made during last year. Camiones International, AMP Amermex and Alcoa Wheel Products were the top truck manufacturing and exporting companies from Mexico with a commendable amount of exports in 2023.

Mexican automotive companies can get rapid sales through global import export data providers. Companies can track shipments activities of active automotive companies, analyze competition, demand, product pricing and purchasing behaviour. Global trade information could assist better decision making, enhance productivity and bring more innovation in the business.