Key Market Indicators
**Mexican Car Registration to Surge to 7.7 Million Units by 2028** Mexico's car registration is projected to reach approximately 7.7 million units by 2028, up from around 5.2 million units in 2023. This growth represents an average annual increase of 6.1%. Since 2010, the country's demand for car registrations has surged by 43.2% year on year. In the 2023 rankings, Mexico held the 6th position, with Canada surpassing it with 5.2 million units. Indonesia, Austria, and Belgium occupied the 2nd, 3rd, and 4th spots, respectively. **Mexican Car Production Expected to Decline Slightly** On the production front, Mexico is set to see a slight decline. The country's car production is forecasted to decrease to around 1.38 million units by 2028, down from approximately 1.39 million units in 2023. This represents an average annual decline of 0.2%. Since 2002, Mexican car production has decreased by 2.6% year on year. In the 2023 rankings, Mexico was positioned at 12th, with the Czech Republic surpassing it with 1.39 million units. Japan, Germany, and India ranked 2nd, 3rd, and 4th, respectively.
