Forecast: Trucks Production in Mexico

The trucks production in Mexico stood at 183.54 thousand units in 2023, experiencing a year-on-year decline of 6.26%. Post-2013, the trajectory saw significant fluctuations, with year-on-year growth rates peaking in 2014 (+21.61%) and 2018 (+19.57%), followed by notable downturns, especially in 2020 (-31.45%). Production numbers recovered considerably in 2021 and 2022 (+21.55% and +20.24% respectively) before the recent dip in 2023. Over the last five years, the CAGR exhibits a minimal contraction at -1.16%.

Going forward, production is expected to increase gradually with a forecasted 5-year CAGR of 0.91%, translating to a growth rate of 4.61% by 2028. Future trends to watch include advancements in manufacturing technology, shifts in trade policies, and global supply chain disruptions which might influence the forecasted growth patterns.