Mexico’s automotive industry among the best in the world

As one of the main producers of vehicles worldwide, Mexico has a significant importance in the international economic landscape, according to Carmatch.mx.

In a statement, experts from the platform for the purchase of pre-owned cars released an analysis of the automotive industry during 2018 , which highlighted that, during the first five months of the year, the trade balance had favored the sector with revenues of 31 thousand 910 million dollars , an increase of 17.3 percent in relation to the same period of 2017 .

It added that it was important to remember that this industry encompasses different sectors, since it not only involves the purchase of vehicles, but also their production, and the generation of the raw material they use.

Therefore, it has major implications for the employment it generates, the foreign currency income to which it contributes, the relationships it has with other sectors of the economy, its share in the gross domestic product, and in foreign trade, it said.

The automotive industry, when demanding inputs to carry out its production, generates an economic outlay in a total of 259 different activities .

In 2014 , it explained, its production represented 16.9 percent of manufactures being the second most important activity, only after the food industry.

It added that, at an international level, the industry has a prominent position among the main producers of vehicles worldwide, it is the first in Latin America , while remaining as the fourth exporter of light vehicles.

As for exports, it ranked fourth in the world in 2014 after Germany, Japan, and the United States .

By June of this year, vehicle sales registered a 6.0 percent decrease in the country, however, 0.8 percent more light cars were manufactured than in the same month of the previous year, and in the accumulated it grew 0.7 percent .

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