Vehicle production increased in Latin America during May, when compared with the all-time lows reported in April, but continued to represent a sharp year-on-year decrease while most plants remained closed or are just starting to reopen following Covid-related halts.
Mexico, Brazil and Argentina are the region's top auto producing countries, Fastmarkets understands.
Mexican light vehicle output totaled 22,119 units in May, falling by 93.7% from 350,060 units a year before, national statistics institute Inegi said on Friday June 5. Despite the steep annual decline, production was almost six times the figures published in April, which were 3,722 units.
The Covid-19 pandemic slashed demand for cars in the country and forced a broad shutdown in auto plants in April. The Mexican government presented the possibility of a gradual reopening beginning in the second half of May, which some automakers accepted.
Meanwhile, domestic sales volumes reached 42,028 units in May, down by 59% from 102,402 units in the corresponding period of 2019. Although, sales increased sequentially by 20.4% when compared with 34,903 units in April.