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Mexican light-vehicle sales continue to slip in May
Stephanie Brinley
Associate Director, AutoIntelligence, S&P Global Mobility
Mexican light-vehicle sales continue to slip, drop 6.9% y/y in
May
Implications: Following a decline in Mexico's
light-vehicle (LV) sales in 2017, the first five months of 2018
have also seen a decline, falling 8.9% y/y. In May, LV sales
dropped 6.9% y/y. LV production in the first five months is about
even with the same period of 2017 and exports are estimated to have
increased.
Outlook: IHS Markit forecasts Mexican LV sales
in 2018 will decrease by about 5% to 1.43 million units. In 2018,
consumers face higher inflation, higher gas prices, and tensions
regarding NAFTA negotiations, all feeding into the volatility of
the Mexican peso against other currencies and inflation. The
situation is seeing some consumers choose to hold back from making
purchases. Additionally, OEMs have reduced incentives as currency
devaluation has eroded profitability, increasing vehicle prices.
Lastly, financing rates have also crept up, resulting in a tougher
environment to lend in. The mid-2018 presidential election may also
bench consumers until some degree of clarity is in sight.
Read the full article
The above article is an excerpt from AutoIntelligence Daily by
IHS Markit. AutoIntelligence Daily provides same-day analysis of
automotive news, events and trends. Get
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