FAST FIVE: Global Carmageddon Continues: Mexico Total Vehicle Exports Crushed 12.7% In August
General Motors has found itself dealing with its first UAW strike in 12 years and now, the warning bells are also starting to be audible from Mexico. Mexico saw its total vehicle exports collapse 12.7% in August, a sharp drop for one of the biggest exporters of vehicles in the world, according to new data from FreightWaves.
Companies like Ford, Honda, Fiat-Chrysler, Toyota, BMW, GM, Kia, Mazda, Nissan, Volkswagen, and Audi all have manufacturing plants in Mexico. Manufacturers shipped 281,811 units in August compared to 322,779 in August 2018, according to data from the Mexican National Institute of Statistics and Geography (INEGI) and the Mexican Association of the Automotive Industry (AMIA).
AMIA President Eduardo Solís Sánchez is blaming the decline on “lower demand from the US, Canada and Brazil”.
Even [Honda] said publicly that it will close a shift because of the low demand it is having for its HR-V model.” Mazda was one of the hardest hit names, reporting that its export volume from its Mazda3 model plant dropped 66% in August.
Audi reported that exports of its Q5 crossover fell 61%.