Forecast: Passenger Cars Production in Mexico

The production of passenger cars in Mexico has experienced significant fluctuations over the past decade. After growth from 2013 to 2016, the industry faced a downturn, reaching a low in 2020. This decline resulted from multiple factors, including economic challenges and the impact of global events. The market showed signs of recovery from 2021 onwards, standing at 1.3896 million units produced in 2023, reflecting a 6.35% year-on-year increase. However, the forecasted data from 2024 to 2028 suggests a slight decrease, with a projected average annual decline of 0.15% over the next five years.

Key trends to watch for in the future:

• Adoption of electric and hybrid vehicles influencing production capabilities.
• Global trade policies and their impact on Mexico's export markets.
• Technological advancements in manufacturing and supply chain efficiencies.