Mexico March. Stunning Mazda up in double-digit, despite market loss

Mexico Cars Market

Mexico Cars Market in March, was negative again (-1.2%), despite showing a reduction in speed with 117.135 units sold. Nissan (-10.6%) holds the first place even if still free falling. Suzuki (+32.2%) and Mazda (+45.8%) recorded outstanding performances.

 

Economic Environment

Mexican economy lost steam at the start of 2019, after a weak end to 2018, amid a challenging economic environment characterised by elevated uncertainty over domestic policy, softer dynamics in the U.S. and woes in the industrial sector. Industrial output contracted for a third month in a row in January, while the manufacturing PMIs both slid in March. Moreover, export growth waned in February. The government unveiled the 2020 preliminary economic criteria on 2 April, updating its forecasts as well as revealing a glimpse at plans for next year.

Unsurprisingly, the government downgraded its growth projection and also slimmed its revenue estimate on the back of lower-than-expected oil production. Given slow growth and floundering oil output, concerns linger over the government’s ability to hit its fiscal deficit target of 2.5% of GDP this year; however, the Finance Ministry stated that it would cut over USD 6.0 billion in spending to meet the goal.

 

Market Trend

Mexican automotive industry in the past years grew up both in terms of local production and domestic sales, fueled by a roaring economy, exports to North and South America, landing of new players, usually with both production and sales, like Mazda, Hyundai, Kia. Growing uninterruptedly, domestic sales grew up from 987.000 units in the 2012 to an amazing 2016 record of 1.604.000. Now the propellant is gone and after a stable first half, the second half 2017 took a descending direction.

Thus sales started to decline in the 2017 – ending the year at 1.533.000 (-5%) and then is still on place with all the twelve months of the 2018 losing year on year and with December marking the 20th consecutive month of year-on-year decline. The full year was reported by A.M.I.A., the Association of Mexican Automotive Industry, at 1.421.885, losing 7.1%.

In 2019 the market was slightly positive in January after 19 consecutive months of decline, with 111.225 sales (+1.9%).  However, in February sales went down again 5.3% with registrations at 103.692.

In March, the market, with 117.135 units, is still negative (-1.2%), although showing a significant speed reduction. The year-to-date results are negative as well (-1.5%) with 332.052 units.

 

Market Outlook

After scoring a series of positive year-on-year performances, the Mexican market has fallen down in the past two years. However, sales are seen to be recovering in the 2019-2025 period of time. Being interested to know more, give a look at this updated research. Clicking on the picture, you can see contents.

 

Competitive Arena

At brand-wise, the year-to-date market dominator was Nissan selling 71.473 vehicles (-10.8%), with market share at 21.5%.

Behind, Chevrolet with 49.306 sales – up 17.8% – followed by Volkswagen, third with 34.232 (-10.2%).

In fourth place Toyota with 26.039 (+1.2%) followed by Kia with 24.177 (+3.9%), Honda with 21.006 (-8.6%) and Mazda with 16.189 (+22.5%).

In eight place Ford with 15.286 (-16.7%) ahead of Hyundai with 11.218 (-5.1%) and in the 10h place Suzuki with 7.226 (+30.8%).

Model-wise, the market leader was still the Nissan Versa with 22.043 (-3.9%) followed by the Chevrolet Aveo with 17.999 sales (+36%), the Chevrolet Beat with 17.382 (+19.8%).

To read the best-selling ranking with the Top 100 models, see the report dedicated.

Rank
2019
Rank
2018
BrandSales
YTD 2019
Sales
March
March
YTD +/-
Mar
19 +/-
Share
YTD 2019
Share
March
11Nissan71.47325.434-10,8%-10,6%21,5%21,7%
22Chevrolet49.30617.53717,8%-6,7%14,8%15,0%
33Volkswagen34.23211.533-10,2%-10,9%10,3%9,8%
44Toyota26.0398.9271,2%7,3%7,8%7,6%
55Kia24.1178.4043,9%9,7%7,3%7,2%
66Honda21.0067.386-8,6%-1,5%6,3%6,3%
78Mazda16.1896.03122,5%45,8%4,9%5,1%
87Ford15.2865.430-16,7%-7,3%4,6%4,6%
99Hyundai11.2183.902-5,1%-2,5%3,4%3,3%
1011Suzuki7.2262.44730,8%32,2%2,2%2,1%
1110Renault6.9772.5786,5%12,0%2,1%2,2%
1214Seat6.3822.0506,2%0,9%1,9%1,8%
1313Ram5.3051.869-8,4%-5,5%1,6%1,6%
1415Mercedes4.9132.09813,8%44,7%1,5%1,8%
1516BMW4.7821.6200,8%1,3%1,4%1,4%
1612Dodge4.3801.367-30,0%-31,4%1,3%1,2%
1718Mitsubishi4.3321.71119,1%39,3%1,3%1,5%
1819Jeep3.1481.180-8,1%5,1%0,9%1,0%
1917Audi2.9141.109-15,2%1,8%0,9%0,9%
2021Peugeot2.61186714,2%22,5%0,8%0,7%
2120Fiat2.319838-10,7%-7,1%0,7%0,7%
2222Mini1.5335200,5%0,6%0,5%0,4%
2323GMC1.104464-0,9%-3,1%0,3%0,4%
2427Baic9732930,3%0,3%
2524Buick5911950,7%-21,4%0,2%0,2%
2625Acura53120920,4%36,6%0,2%0,2%
2726Infiniti435173-20,8%7,5%0,1%0,1%
2828Volvo43014413,2%-13,3%0,1%0,1%
2929Lincoln419141-21,8%-19,9%0,1%0,1%
3032Land Rover39113032,5%-18,2%0,1%0,1%
3131Porsche361110-0,8%-6,0%0,1%0,1%
3230Isuzu272131-20,7%12,9%0,1%0,1%
3334Cadillac2639225,2%10,8%0,1%0,1%
3433Subaru248108-19,5%2,9%0,1%0,1%
3536Chrysler125415,9%17,1%
3637Jaguar1032417,0%-22,6%
3738Alfa Romeo4922-14,0%-4,3%
3835Smart276-90,8%-93,6%
3839Ferrari27912,5%12,5%
3940Lamborghini124100,0%
4041Bentley31

Rank
2019
Rank
2018
GroupSales
YTD 2019
Sales
March
March
YTD +/-
Mar
19 +/-
Share
YTD 2019
Share
March
11Renault Nissan Alliance83.21729.896-8,5%-7,0%25,1%25,5%
22General Motors51.26418.28817,1%-6,7%15,4%15,6%
33Volkswagen Group43.90414.807-8,4%-8,5%13,2%12,6%
44Hyundai-Kia35.33512.3060,9%5,5%10,6%10,5%
55Toyota Group26.0398.9271,2%7,3%7,8%7,6%
66Honda Motor21.5377.595-8,0%-0,8%6,5%6,5%
79Mazda16.1896.03122,5%45,8%4,9%5,1%
88Ford Group15.7055.571-16,8%-7,6%4,7%4,8%
97F.C.A.15.3535.326-16,0%-12,1%4,6%4,5%
1010Suzuki7.2262.44730,8%32,2%2,2%2,1%

Rank
2019
Rank
F.Y. 2018
ModelsSales
YTD 2019
March
19
Sales
YTD +/-
March
19 +/-
11Nissan Versa22.0437.791-3,9%-1,6%
22Chevrolet Aveo17.9996.14936,0%18,3%
33Chevrolet Beat17.3826.05119,8%-13,5%
44Nissan NP30014.9575.662-17,0%-13,7%
56Nissan March14.9015.1399,0%0,6%
65Volkswagen Vento11.4144.165-11,9%4,4%
79Kia Rio8.7653.0057,2%17,1%
87Nissan Sentra7.8222.574-16,2%-22,5%
98Volkswagen Jetta7.1872.456-23,6%-33,9%
1014Mazda35.9441.55911,4%-8,1%
1110Honda CR-V5.6971.974-19,4%-13,0%
1212Nissan Kicks4.7281.551-12,2%-17,5%
1319Honda HR-V4.6321.853-11,4%13,5%
1413Ford Figo4.5981.758-26,6%-2,2%
1515Kia Forte4.5191.63611,2%21,0%
1616Toyota Hilux4.3601.191-4,7%-11,6%
1717Kia Sportage4.3171.350-17,3%-26,3%
1855Toyota RAV44.2561.348194,1%162,8%
1927Mazda CX-53.9941.94935,3%118,0%
2011Toyota Yaris3.766768-32,3%-54,5%
2120Chevrolet Cavalier3.6171.22834,0%-25,0%
2225Volkswagen Tiguan3.5981.1411,2%-4,6%
2321Chevrolet Trax3.5631.33532,6%12,6%
2423Ford F-Series3.5421.3143,2%19,6%
2518Nissan X-Trail3.3551.225-22,4%-23,1%
2624Honda City3.2211.166-13,5%-2,8%
2738Toyota Hiace3.1411.54548,7%144,8%
2826Volkswagen Gol3.122720-10,5%-42,5%
2922Dodge Attitude3.110957-20,4%-20,4%
3043Kia Soul3.0681.22726,4%69,0%

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