122,929 Vehicles! June Car Sales in Mexico Hit Record High

Automotive Author: EqualOcean News Editor: Leci Zhang Jul 09, 2024 07:20 PM (GMT+8)

In June 2024, car sales in Mexico reached 122,929 units, an 8.3% increase year-on-year, marking the highest June sales since 2017. The Mexican Association of Automobile Dealers expects the annual car sales to exceed 1.5 million units this year.

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EqualOcean reported that the National Institute of Geography and Statistics (INEGI) reported that a total of 122,929 vehicles were sold in Mexico this past June, marking an 8.3% increase year-on-year and the highest sales for the month since 2017. Guillermo Rosales, President of the Mexican Automobile Dealers Association (AMDA), emphasized that June's car sales exceeded the association's forecast of 115,975 units by 5.7%. Given the continued strong performance in new car sales, it is expected that Mexico's annual car sales will surpass the 1.5 million mark this year.

Japanese brands dominated new car sales in June, with Nissan maintaining its leading position by exceeding its sales target of 20,000 units, reaching 21,153 units. Honda saw a surprising double-digit growth of 47.6% compared to June 2023, while Mazda achieved a 63.7% increase. Toyota also saw a 13.4% sales boost due to the introduction of new hybrid models like the Tacoma pickup. Suzuki's recent launch of the new-generation hybrid Swift subcompact car drove its sales up by 35%. General Motors stimulated sales growth with the release of various models, including the electric Equinox EV SUV, reinforcing the Aveo's status as one of Mexico's best-selling subcompact cars.

However, Chinese car brands underperformed. Chirey (奇瑞)'s sales declined by 33% compared to June 2023, despite the brand attributing this adjustment to the introduction of new models a few months ago. MG (名爵)'s sales also dropped for the second consecutive month. The brand recently announced plans to launch new models in the Mexican market, including the MG3 subcompact and the MG4 sports car. Daniel Nava, Vice President of MG Mexico, expressed optimism that these new models would increase MG's market share in Mexico by more than one percentage point. For the first half of this year, MG's market share in Mexico stood at 3.5%.

The Mexican Automobile Dealers Association (AMDA) also noted that June's car sales had surpassed pre-pandemic levels. In June 2019, 106,782 vehicles were sold in Mexico. For the first half of this year, Mexico sold a total of 708,650 light vehicles, an 11.9% increase over the 633,087 units sold in the same period last year.