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Mexico Real Estate News: October Auto Production in Mexico Hits Record High

15 November, 2012

According to a report by Fox News,the numbers for auto production of cars and light trucks in Mexico hit a record high in October of 2012,rising more than 17 percent from the same period in 2011. In addition,a record number of 282,283 vehicles were produced this October,due in large part to the increasing strength of the export market across almost all sectors,with respect to sales.

The Mexico Automobile Industry Association,or AMIA,said sales to the U.S. and Canada were the most significant,with a 14 percent year-on year gain in auto exports from Mexico to the U.S. alone. In addition,the association reported that there was a rise of 15 percent in sales to nations throughout Latin American,in spite of a variety of new restrictions that were introduced in both the Brazilian and Argentine markets in early 2012.

“October [2012] auto production and exports were at the highest level ever for the month of October,” shared Eduardo Solis,who is the head of the AMIA.

Also of note,the association reported that the number of domestic auto sales in Mexico real estate rose by more than 9.8 percent in October of 2012,to 83,171 cars and light trucks. Finally,the AMIA reported that accumulated auto output between the months of January to October 2012 rose 14 percent compared to the same period in 2011,hitting a record of 2.44 million vehicles,while the accumulated exports grew by more than 12 percent to hit a record number of 1.98 million vehicles. Local sales during the same period also increased by 11 percent,rising to 785,072 vehicles. 

“Mexico’s auto sector is the biggest of the country’s manufacturing industries,” writes Fox News. “And continued record production this year will offset any slowdown [that has occurred] in other manufacturing sectors.”

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