Mexico hasn’t accounted for nearly as much ink as the U.S. and Canada in recent discussions of the auto industry. But in case anyone was wondering, they’re in a big hurt south of the border as well. While the American market’s decline in auto sales factors in at about 25% overall, the Latin American Herald Tribune reports that Mexico has seen a 30.6% drop in sales volume.
And that’s the best news. Exports from the automaker plants based in Mexico fell 35.5%, and production descended into the deepest hole, posting a 37.7% contraction compared to last year. The economic rebound everyone is saying is here (or really close) should get Mexico’s numbers back in line before long – September’s production was only down 22% and exports only dropped 18.7%. But until then… ¡Ay, caramba!
[Source: Latin American Herald Tribune | Image: Jose Castañares/AFP/Getty]