From the roar of production lines to the hum of exports crossing borders, Mexico's automotive industry has accelerated into a record-breaking gear, with 2023 delivering over 4 million vehicles and cementing its status as a global manufacturing powerhouse.
Key Takeaways
- In 2023, Mexico's automotive production reached 4,004,308 total vehicles, a 14.3% increase from 2022
- Mexico produced 3,136,358 light vehicles in 2023, representing 78.3% of total automotive output
- Passenger car production in Mexico hit 1,987,450 units in 2023, up 19.2% year-over-year
- In 2023, Mexico exported 3,310,422 light vehicles, valued at USD 109.5 billion
- Automotive exports to the US reached USD 102 billion in 2023, 82% of total auto exports
- Canada received 7.5% of Mexico's auto exports in 2023, worth USD 8.2 billion
- Automotive employment in Mexico totaled 934,000 direct jobs in 2023
- Auto parts sector employed 840,000 workers in 2023
- Guanajuato state auto jobs: 220,000 in 2023 (23.5%)
- FDI in auto reached USD 8.2 billion in 2023
- US FDI in Mexican auto: USD 4.5 billion in 2023 (55%)
- New plants announced: USD 5 billion for EVs by 2025
- Total domestic sales: 1,359,711 light vehicles in 2023, down 6.6%
- Pickup sales in Mexico: 450,123 units in 2023 (33%)
- Nissan market share: 23.1% with 314,000 units sold in 2023
Mexico's auto industry set strong production and export records in 2023 despite softer domestic sales.
Employment Statistics
- Automotive employment in Mexico totaled 934,000 direct jobs in 2023
- Auto parts sector employed 840,000 workers in 2023
- Guanajuato state auto jobs: 220,000 in 2023 (23.5%)
- Average wage in auto assembly: MXN 25,000 monthly in 2023
- Women in auto manufacturing: 28% of workforce in 2023, up from 22% in 2019
- Unionized workers: 65% in major OEM plants in 2023 post-CTM reforms
- Training programs graduated 45,000 workers in 2023
- Turnover rate in auto sector: 12% in 2023
- Indirect jobs supported: 3.2 million in 2023
- Nuevo León auto employment: 150,000 jobs in 2023
- Engineer roles in auto: 120,000 positions filled in 2023
- Shift to nearshoring added 50,000 jobs in 2023
- Temporary workers: 25% of total auto workforce in 2023
- Safety incidents down 15% to 2.1 per 100 workers in 2023
- Apprenticeships: 30,000 youth trained in 2023
- Puebla state jobs: 180,000 in auto in 2023
- Remote work in auto design: 8% of engineers in 2023
- Labor productivity: USD 45,000 per worker in 2023
- Overtime hours averaged 8 per week in peak 2023
- Diversity hires: 15,000 indigenous workers integrated in 2023
- Plant capacity utilization: 85% with 900,000 workers in 2023
Employment Statistics Interpretation
While the engine of Mexico’s auto industry is purring with impressive job growth and rising wages, it’s clear the gears are still grinding to smooth out turnover, boost diversity beyond the passenger seat, and ensure the shift toward nearshoring doesn’t rely too heavily on temporary spare parts.
Export Statistics
- In 2023, Mexico exported 3,310,422 light vehicles, valued at USD 109.5 billion
- Automotive exports to the US reached USD 102 billion in 2023, 82% of total auto exports
- Canada received 7.5% of Mexico's auto exports in 2023, worth USD 8.2 billion
- Exports to Europe totaled USD 12.4 billion in 2023, up 18%
- Light vehicle exports grew 20.1% to 3.13 million units in 2023
- Pickup truck exports: 1.8 million units to US in 2023
- Auto parts exports hit USD 132 billion in 2023
- January 2024 auto exports: 285,000 vehicles, up 13.2%
- Share of US auto market from Mexico: 25% in 2023
- Exports to Germany: 450,000 vehicles in 2023
- Brazil imports from Mexico: USD 2.1 billion autos in 2023
- Q4 2023 exports: 850,000 vehicles
- Cumulative auto exports 2010-2023: over 30 million vehicles
- EV exports from Mexico: 15,000 units in 2023, mainly to US
- Auto export trade balance surplus: USD 95 billion in 2023
- Exports via Laredo port: 1.2 million vehicles in 2023
- Japanese OEM exports: 1.1 million vehicles from Mexico in 2023
- US OEM exports from Mexico: 1.9 million units in 2023
- February 2024 exports: 290,100 vehicles, up 14%
- Export growth rate to NAFTA: 21% in 2023
- Heavy vehicle exports: 420,000 units in 2023
- Auto parts export growth: 8.5% to USD 132B in 2023
- China as export destination: USD 1.5B in 2023
- Digital exports tracking: 99% of autos via USMCA certification in 2023
- March 2024 export forecast: 300,000 units
Export Statistics Interpretation
Mexico’s auto industry is essentially North America’s favorite assembly line, producing a $109 billion surplus of pickups and parts with such single-minded devotion to the U.S. market that it makes other continents feel like a mere afterthought, albeit a growing and profitable one.
Investment Statistics
- FDI in auto reached USD 8.2 billion in 2023
- US FDI in Mexican auto: USD 4.5 billion in 2023 (55%)
- New plants announced: USD 5 billion for EVs by 2025
- BMW expansion in SLP: USD 1 billion invested 2021-2023
- Tesla Gigafactory Nuevo León: USD 5 billion pledged in 2023
- Cumulative FDI 2018-2023: USD 35 billion in auto sector
- Japanese investment: USD 2.1 billion in 2023
- Nearshoring FDI surge: 120% growth to USD 8B in 2023
- Audi expansion: USD 500 million for EV line in 2023
- Kia Pesquería phase 2: USD 800 million completed 2023
- Auto parts FDI: USD 3.9 billion in 2023
- Q4 2023 FDI approvals: USD 2.1 billion
- Stellantis Toluca upgrade: USD 1.6 billion 2022-2023
- Supply chain investments: USD 1.2B for localization in 2023
- EV battery plants: USD 2B FDI announced 2023
- Foreign ownership: 95% of auto plants FDI-driven in 2023
- Job creation from FDI: 45,000 new positions in 2023
- Regional FDI: Bajío 45% of total auto FDI 2023
- Sustainable investments: USD 800M in green tech 2023
- Venture capital in auto tech: USD 150M in 2023 startups
Investment Statistics Interpretation
Mexico's auto industry, fueled by a deluge of foreign investment and a competitive sprint toward electrification, has revved its engine so hard it's now essentially the world's near-shored garage, complete with a neon 'Under New EV Management' sign flashing in the window.
Production Statistics
- In 2023, Mexico's automotive production reached 4,004,308 total vehicles, a 14.3% increase from 2022
- Mexico produced 3,136,358 light vehicles in 2023, representing 78.3% of total automotive output
- Passenger car production in Mexico hit 1,987,450 units in 2023, up 19.2% year-over-year
- Truck and bus production totaled 867,950 vehicles in 2023, a 4.1% rise from prior year
- In January 2024, Mexico produced 303,616 vehicles, 12.5% more than January 2023
- Nuevo León state accounted for 22.4% of Mexico's vehicle production in 2023 with 897,000 units
- Ford's Hermosillo plant produced 450,123 vehicles in 2023, focusing on compact pickups
- General Motors' Ramos Arizpe facility output was 412,000 units in 2023
- Volkswagen Group's Puebla plant produced 845,000 Jettas in 2023
- Toyota's Baja California plant assembled 250,000 Tacomas in 2023
- In 2023, engine production in Mexico reached 5.2 million units across all plants
- Auto parts production value was MXN 1.2 trillion in 2023
- Silao plant (GMC) produced 320,450 SUVs in 2023
- Saltillo Truck plant output: 280,000 heavy-duty trucks in 2023
- Aguascalientes plant (Nissan) produced 400,000 Versas in 2023
- Cumulative production from 2000-2023 exceeded 45 million vehicles in Mexico
- Electric vehicle production initiated with 10,000 units in 2023 by JAC
- February 2024 production: 310,200 vehicles, up 15%
- Guanajuato state production: 1.1 million vehicles in 2023 (27.5%)
- Mazda's Salamanca plant: 210,000 vehicles in 2023
- BMW's San Luis Potosí plant: 175,000 vehicles in 2023
- Audi's San José Chiapa plant: 162,000 Audis in 2023
- Kia's Pesquería plant: 380,000 vehicles in 2023
- Stellantis Toluca plant: 290,000 Jeeps in 2023
- Transmission production: 4.8 million units in 2023
- 2022 production dip to 3.5 million due to chip shortage
- Q4 2023 production: 1.05 million vehicles
- Light truck production: 2.1 million units in 2023 (67% of light vehicles)
- March 2024 production forecast: 320,000 vehicles
- Mexico's vehicle production per capita: 30 units per 1,000 inhabitants in 2023
Production Statistics Interpretation
While Mexico's auto industry flexed its impressive 14.3% growth to over 4 million vehicles in 2023, proving it's a heavyweight champ churning out a new car for every 33 people, its electric ambitions are still puttering along in first gear with a mere 10,000 EVs.
Sales and Market Statistics
- Total domestic sales: 1,359,711 light vehicles in 2023, down 6.6%
- Pickup sales in Mexico: 450,123 units in 2023 (33%)
- Nissan market share: 23.1% with 314,000 units sold in 2023
- GM sales: 245,000 vehicles in 2023 (18%)
- Volkswagen sales: 210,456 units in 2023 (15.5%)
- January 2024 sales: 110,200 light vehicles, up 22%
- SUV segment: 55% of sales at 748,000 units in 2023
- Used car market: 1.8 million transactions in 2023
- EV sales: 14,200 units in 2023, up 85%
- Dealer network: 1,800 outlets nationwide in 2023
- Financing penetration: 70% of sales via credit in 2023
- Average price: MXN 450,000 per light vehicle in 2023
- Q4 2023 sales: 380,000 units
- Regional sales: CDMX 20% of total in 2023
- Toyota sales: 145,000 units (10.7%) in 2023
- Ford sales: 130,456 units in 2023
- Imported vehicles: 40% of sales in 2023
- Heavy vehicle sales: 45,000 units in 2023
- Online sales share: 12% in 2023
- February 2024 sales: 115,000 units, up 25%
- Market contraction: 6.6% in 2023 due to high rates
Sales and Market Statistics Interpretation
While the market's overall appetite shrank 6.6%, it seems Mexico's love affair with SUVs and pickups remained stubbornly committed, with financing happily footing the bill for 70% of these thirsty relationships.
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