Mexico: Auto production and exports fall for fifth consecutive month, Auto News, ET Auto
MEXICO:Mexican auto production and exports fell for the fifth straight month in November, National Statistics Agency (INEGI) figures showed on Monday, as persistent semiconductor shortages drag the industry down.
Mexican auto production plunged 20.25% from November 2020 to 248,960 vehicles, while auto exports fell 16.46% to 240,341 units, according to INEGI data.
A global semiconductor shortage has prompted automakers in Mexico and the rest of North America to implement phase-downs, cut production and hit workers hard.
Mexico’s auto production fell 20% to 3.04 million vehicles last year during the first phase of the coronavirus pandemic, and the Mexican Automobile Industry Association (AMIA) predicted that it could drop as much as 5% more in 2021.
In the first 11 months of 2021, Mexican auto production fell 0.68% from the same period last year to 2,767,004 vehicles, while auto exports during the same period increased by 3.02% to 2,479,515 units, according to INEGI figures.