Car production in Mexico slipped 9.6 percent year-on-year to 337.5 thousand units in August 2019, following a 1.0 percent decrease in the prior month. This was the steepest decline in car production since last December. Among major automakers, output fell for General Motors (-2.3% to 81.3 thousand), Nissan (-21.7% to 63 thousand), Volkswagen (-3.1% to 42.2 thousand), FCA México (-27.7% to 45.7 thousand), KIA (-18.7% to 25.8 thousand), Audi (-44% to 8.5 thousand) and Mazda (-51.8% to 5.9 thousand). In contrast, production grew for Ford Motor (11.6% to 24 thousand), Honda (372.6% to 19.3 thousand), Toyota (1.5% to 18.3 thousand). In the first eight months of the year, auto production went down 0.9 percent over a year ago to 2.61 million units. Car Production in Mexico averaged 162.60 Thousand Units from 1988 until 2019, reaching an all time high of 381.99 Thousand Units in October of 2017 and a record low of 35.61 Thousand Units in April of 1988.
Car Production in Mexico is expected to be 335.00 Thousand Units by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Car Production in Mexico to stand at 360.00 in 12 months time. In the long-term, the Mexico Car Production is projected to trend around 370.00 Thousand Units in 2020, according to our econometric models.