How Mexico's Auto Industry Hit the Gas in 2023
Mexican autos defied the December dip, roaring past 2023 with a 14% production rise and 16% export fiesta. Nissan and BMW zoom ahead, while Mercedes hits the brakes. Ford exports more than it makes, KIA keeps the taco truck rolling.
Mexico's car industry revved up in 2023, leaving tire tracks of double-digit growth and defying gravity with record-breaking exports. Beneath the shiny hood is a tale of winners and whiners, high-flyers and nose-divers, a veritable automotive “Game of Thrones” with metal steeds instead of dragons.
Let's start with the bigwigs. General Motors, the king of the castle, held onto its crown despite a slight stumble (-2.8%), churning out a cool 722,631 vehicles. Nissan, the plucky underdog, roared back with a 57.5% growth spurt, claiming the silver medal with 615,751 cars. Stellantis, the three-headed hydra formed from the union of Fiat Chrysler Automobiles and PSA Group, cruised comfortably in third with a 12.7% increase. VW, the steady Eddie of the bunch, perked up 15.7%, while BMW zoomed past everyone with a staggering 85.1% growth, proving that sometimes, all you need is a good German engineering boost.
