Mexico‘s light vehicle exports are led by 12 companies. Among them, General Motors occupies the first position in the market.
In 2024, of the total of these companies, six companies recorded year-on-year growth in their foreign sales. The other six had declines, according to Inegi data.
Overall, Mexico exported 3 million 479,086 light vehicles during 2024. This represented an increase of 5.4% compared to the previous year.
Exports of light vehicles
In first place, General Motors sold 830,820 units abroad (+15.1%, year-on-year). This was followed by Nissan (456,866, +24.5 percent).
The following positions were occupied by Ford Motor (379,849 units, +2.4 percent) and Stellantis (353,307 units, -14.4 percent).
In 2023, Mexico ranked as the world’s ninth largest exporter of products, with the automotive industry as the most competitive.
In addition to light vehicles, Mexico exports trucks, buses, ATVs, automobiles, tractors, auto parts and special-purpose vehicles.
Mexico has already accumulated four consecutive years of year-on-year growth in its exports of light vehicles.
This is the trend of the indicator, in thousands of units:
- 2020: 2,682 (-20.9 percent).
- 2021: 2,707 (+0.9 percent).
- 2022: 2,866 (+5.9 percent).
- 2023: 3,301 (+15.2 percent).
- 2024: 3,479 (+5.4 percent).
Nearshoring
Mexico’s international trade continues to reach record highs. In addition, signs of nearshoring are increasingly positive. This is because the country has taken advantage of global trade reorganizations. Currently, Mexico has the largest market share in U.S. imports, surpassing even China.
On the other hand, several foreign investments have been announced. These investments have generated an increase in demand for electricity and industrial real estate. As a result, they could boost long-term economic growth.
In economic terms, Mexico’s Gross Domestic Product (GDP) grew by 1.8% during the first three quarters of 2024 compared to the same period in 2023. This growth was driven mainly by the solid performance of the external sector. During the year, international trade reached a record US$1.2 trillion.