Mexican automotive exports drop slightly in Januanry

Mexico's export of cars saw a slight year-on-year drop of 0.7 percent in January, in part due to lower sales in the U.S., said the Mexican Association of the Automotive Industry (AMIA) on Tuesday.

AMIA numbers showed that 211,682 cars were exported abroad in January 2017, as opposed to 213,244 in the same period of 2016.

Speaking at a press conference, AMIA Director-General Fausto Cuevas explained that the drop was due to a 1.7 percent slowdown in new car purchases in the U.S., which receives 76 percent of Mexican automotive exports.

"Our participation in the American market remains very relevant. We have 14 percent of participation there...which allows us to have a very optimistic outlook for this year," he said.

Cuevas pointed out that the American market saw a record car sales year in 2016, and it is not strange for demand to see a minor dip in January.

Mexican automotive exports to Canada also slowed in January, although they increased to European and Latin American markets, such as Germany and Uruguay.

The overall production of cars and sales in Mexico maintained their level in January, compared to the last months of 2016, the AMIA data showed.

In total, automakers produced 278,542 cars, 4.1 percent more than in January 2016.

Total sale of cars in domestic market rose 3 percent to reach 123,260 units, as compared to 119,693 cars in the first month of 2016. Endit