Mexican vehicle production and exports could see a drop of 24-28 percent in 2020 as a result of the COVID-19 pandemic, the Mexican Automotive Industry Association (AMIA) said on Tuesday.
"The effect of the pandemic on the automotive industry's expected end-of-year results is evident," Fausto Cuevas, director general of AMIA, said in a virtual press conference.
"Our perspective is that production and export volumes are between 24 to 28 percent lower than what was achieved in 2019," Cuevas said.
The National Institute of Statistics and Geography (Inegi) recently reported that Mexico's light vehicle production fell 5.48 percent year on year in September, while exports fell 13.06 percent.
The Mexican automotive industry produced 2,062,533 vehicles between January and September this year, representing a decline of 29.64 percent from a year earlier, according to Inegi.
Additionally, 1,779,253 units were exported in the first nine months this year, down by 31.14 percent year on year.
According to AMIA, 87.9 percent of exports were sent to North American markets between January and September, with the United States being the main market.