July 7, 2020 / 12:09 PM / a month ago

Mexico auto production, exports recover sharply in June from May

MEXICO CITY, July 7 (Reuters) - Mexico’s auto production and exports picked up steam in June from a month earlier, but were down sharply versus a year earlier, official data showed on Tuesday, as carmakers reopened plants from their coronavirus-induced shutdown.

Production jumped nearly 11-fold in June to 238,946 units, from 22,119 units in May. Year-on-year, production slipped 29.3% in June.

Mexico exported 196,173 units in June, up 13 times versus the 15,088 units shipped in May. Still, exports were down 38.8% in June from a year earlier.

The Mexican Automotive Industry Association (AMIA) estimated that production of light autos could fall between 28-30% in 2020, while exports may slide by 30-33%.

Mexico’s auto industry accounts for about 4% of gross domestic product and generates nearly 1 million direct jobs, according to AMIA. (Reporting by Anthony Esposito; Editing by Bernadette Baum)

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