GDP advanced 4.8% in 2021, 8 states recovered to pre-pandemic levels. Administrative, Support and Financial Services sectors stall while Manufacturing, Wholesale/Retail and Transportation sectors accelerate.
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GDP advanced 19.6% annually as of 2Q21, 14 out of 20 sectors are still below what was observed in 2019. It is confirmed that the economic recovery will come through industrial means by greater foreign trade
Auto sales rebounded 12.2% yoy in 1Q21, averaging 17 million units (SAAR). Meanwhile, April sales reached 18.5 million units (SAAR), the highest in 15 years.
In 2021 the automotive industry will grow again. Southeast still requires more productive investment to boost the regional economy.
New vehicle sales went up 5% in 4Q20 from the previous quarter to 16.2 million units. For 2020, sales declined 14.7% to 14.5 million units, the lowest since 2012. Resilient demand and tighter supply has significantly boosted prices in both the …
Sales of new vehicles have experienced a v-shaped recovery, increasing 36% in 3Q20 from the previous quarter. However, levels were 10% below the same quarter of the previous year. We expect total new vehicle sales to reach 14.5 million units in 2020, the lowest since 2012.
A generalized fall, but still with opportunities. The sectoral structure has been maintained despite the economic contraction. Sectoral mix sets the tone for state performance.
New vehicle sales were stronger than expected in 2Q, resulting in an upward revision to our annual forecast. However, sales were still 33.7% below the levels observed in 2Q19, the worst decline since 2Q09.
COVID-19 will have a negative impact on vehicle sales through 2020 due to lockdowns and economic contraction. The worst impact is likely to be felt in 2Q.
In the last 25 years, the Mexican automotive sector has been a success story. The sector (which includes auto parts) is of great importance for the Mexican economy.
New vehicle sales were 16.9 million in 2019, 1.7% less than in 2018. Although still solid, 2019 sales were the lowest since 2014. We expect new car sales to slow down further in 2020, due to slower economic growth and less affordable vehicles.
The automotive market was unable to recover from the sharp fall in 2018 due to the exchange and financial tensions that occurred during 2019, the loss of purchasing power and a significantly astringent monetary policy.