July: Another Record for Mexico LV Sales
Executive Summary
Both car and light-truck sales rose to new heights in July, maintaining a string of LV sales records that began 19 months earlier.
Continued weakness in the manufacturing sector and a somewhat pessimistic outlook on the Mexican economy didn’t keep consumers away from the country’s new light-vehicle showrooms.
Indeed, dealers racked up a 19th consecutive monthly sales record with July’s 27-day deliveries rising 18.0% to 131,671 units from the prior benchmark of 111,612 set in July 2015, which also had 27 selling days.
But despite an extra selling day, July’s selling pace fell 5.6% short of June, when 134,376 cars and light trucks were sold.
Still, with the Mexican economic growth now forecast at a revised 2.3% for the year, compared with 2.4% in Q2 and Q1’s 2.6%, LV sales are not expected to tank any time soon.
Both the car and light-truck segments set July records.
The month’s 89,848 car deliveries bested prior-year’s 74,198 by 21.1% and edged June’s 89,584 units despite a 3.4% selling-rate shortfall.
Light-trucks showed a less impressive, but still strong, 11.6% increase to 41,823 units from year-ago’s 37,414 vehicles and fell 10.1% short of matching June’s 44,792 deliveries.
Market-leader Nissan/Infiniti boasted a 16.4% year-on-year gain in total July LV sales and maintained a 25.3% for January-July.
Second-place General Motors registered an 18.3% July increase with year-to-date deliveries up 16.2%
Third-ranked Volkswagen/Audi sales were up 17% for the month and 16.6% for the year.
