Mexican auto industry accelerates toward historic production mark in 2024

Mexico's auto industry is on track to break its all-time production record, nearing 4 million units in 2024. November alone saw a 6.7% production increase, led by Toyota, General Motors, and KIA, while luxury brands like Mercedes-Benz faced declines. Domestic car sales rose 14.3% year-over-year, and exports hit historic highs, with over 3.2 million vehicles shipped abroad. With strong growth in hybrid vehicle sales, especially from Toyota, Mexico's auto sector is entering a new phase of expansion.
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