More LV Sales Records in Mexico
Executive Summary
The record number of new LVs bought by Mexican consumers in October pushed the year-to-date tally to within 7.0% of besting any entire calendar year performance in history.
Driven by robust consumer demand, sales of new cars and light trucks in Mexico reached a third-consecutive October record as dealers retailed 137,115 LVs at a rate of 5,274 on each of 26 selling days.
That surpassed by 23.3% the 4,277-a-day pace on volume of a then-record 119,751 units posted a year earlier, when the month had 28 selling days.
It also topped by 0.4% September’s daily rate of 5,254 units, on sales of a record 131,346 vehicles.
Both car and light-truck deliveries soared to new heights in October.
Car deliveries rose 23.4% against year-ago to a record 86,718 units compared with 75,708 in like-2015, while light-truck deliveries were up 23.2% to 50,397 from 44,043.
And, although the car-sales pace slipped 4.4% below that of September, the number of light trucks sold daily in October bested the prior-month’s performance by a strong 9.9%, suggesting Mexican consumers may be gradually shifting more attention to that segment of the market.
What’s more, October’s performance pushed the year-to-date tally to a 10-month record of 1,255,102 units, equaling some 93% of the record 1,350,099 LVs sold in entire 2015.
Thus, even if sales decline due to a drop in consumer confidence, as some economic prognosticators expect following the U.S. election, calendar-year deliveries still will rise to a new all-time high.
