Mexico's February Auto Production Up 24% On Year

MEXICO CITY (Dow Jones)--Mexico's automobile production in February rose 24% compared with the year-ago month to a record 242,317 cars and light trucks, the Mexican Automobile Industry Association, or AMIA, said Tuesday.

Auto exports last month jumped 25% to 194,640 vehicles, and local sales gained 12% to 74,703 units, AMIA said.

February's production number was the highest ever for the second month of the year and put Mexico's car industry on pace for a record year, AMIA said. Mexico auto output set new records in 2010 and 2011 on the strength of exports.

Accumulated auto production for the first two months of 2012 was up 13% compared with the same period last year to 445,018 vehicles, and exports were 10% higher to 352,982 autos, AMIA said. Local sales rose 11% to 150,000 vehicles in the two-month period.

Although exports to the U.S. make up the bulk of Mexico's auto sales abroad, the fastest-growing region for Mexican-made cars and light trucks continues to be South America, and Brazil is seeking to modify a trade agreement with Mexico to limit its exports.

In separate Mexico data showing solid industrial growth this year, January's industrial output grew 4.2% compared to the year-ago month, the National Statistics Institute said Tuesday.

Posted in Automotive