In September 2024, Mexico’s heavy vehicle industry experienced setbacks with a 14% decrease in exports to the United States, resulting in a 2.8% decline in truck production compared to the previous year. The National Institute of Statistics and Geography (INEGI) reported that the country exported 12,459 trucks globally, with 11,734 units sent to the US. Production figures also saw a decrease, with 16,860 units manufactured in September 2024.
President of ANPACT, Rogelio Arzate, attributed the decline to political uncertainty and economic instability, emphasizing the need for legal certainty and improved security to boost industry confidence. Despite these challenges, retail sales of heavy vehicles showed a 9.88% increase from January to August 2024, indicating potential for recovery in the sector.
With twelve companies assembling heavy vehicles in Mexico, the industry plays a crucial role in the country’s manufacturing sector, focusing primarily on cargo units. As stakeholders navigate current challenges, the focus is on government policies and economic stability to drive future growth and maintain Mexico’s position in the global market.