Mexico automotive sales hit historic March high

In March 2024 Mexico's auto market recorded 124,395 new vehicle registrations, a 4.7% year‑over‑year increase that ranks as the second‑largest monthly total in the country's history, just behind March 2017. The growth was driven by strong performance from high‑volume brands such as Nissan, Toyota and General Motors, which offset declines experienced by several other manufacturers. Industry officials highlighted the rise as evidence of the sector's resilience amid broader economic recovery, though the pace of growth slowed to its lowest level since July 2022, signalling emerging challenges such as the shift toward electric vehicles and tighter market conditions.

Guillermo Rosales, president of the Mexican Association of Automotive Distributors, noted the March increase added 5,594 units compared with the previous year and contributed to an 11% rise in total first‑quarter sales versus the same period in 2023. The data were released by the National Institute of Statistics and Geography (INEGI).