Mexico’s automotive production and exports—and, by extension, steel consumption—both declined during 2019 on tapered North and Latin American demand.
Vehicle production fell by 4.1pc to 3.7mn cars, while their exports dipped 3.4pc to 3.3mn, the National Institute of Statistical and Geographic Information (Inegi) announced.
Exports to Canada decreased by 12pc to 218,763; to Brazil they declined by 34.4pc to 51,441; to Colombia they dropped by 17.3pc to 43,373; to Chile they fell by 34.5pc to 23,288; and to Peru by they were down by 19pc to 12,308.
However, US-bound vehicle exports increased 2.9pc to 2.6mn.
By continent, exports to the Americas declined by 1.2pc to 3mn; to Asia they decreased by 13.1pc to 47,319; and to Europe they fell by 18.9pc to 201,800.
Seven of 12 Mexican Automotive Industry Association-affiliated automakers decreased car production between January and December 2019, Inegi noted.
Mexico’s steel production declined by 3.6pc in October 2019 to 1.5mn mt, according figures from media outlets.