Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Car sales in Mexico marginally increased by 0.3pc in February to 104,328 units as local demand grew.


Automotive sales last month reached 103,989 units, the National Institute of Statistical and Geographic Information (Inegi) said Wednesday.


Among automakers with the highest sales in February were Nissan with 22,280 cars sold, General Motors with 17,456 cars sold, Volkswagen with 11,191 vehicles sold, and Kia with 7,840 auto sales.


The recovery in car sales last month came after automotive output declined on an annual by 7.7pc in 2019 to 1.3mn units, making last year one of the auto industry’s worst on record and, by extension, adversely affecting steel demand.


Mexico’s steel production declined by 8pc in 2019 to 18.6mn mt, according to figures from media outlets.


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