Mexico vehicle production surges over 13.9% in Aug

MEDELLIN, Colombia (ICIS)–Mexican domestic automobile production surged by 13.9% in August year on year, the Mexican Automakers Association (AMIA) said on Thursday.

Production reached 332,769 vehicle units in August, up from the 292,271 units produced in August 2015, the association said.

Accumulated production since the beginning of the year through August was at 2,291,137 units, up by 0.7% from last year’s cumulative production of 2,274,140 units for the same time period, AMIA said.

Exports in August were also higher, up by 11.9% year on year at 262,673 units, AMIA said.

The automotive industry is a major global consumer of petrochemicals which contributes more than a third of the raw material costs of an average vehicle. ICIS tracks the movement of petrochemical raw material costs in auto production both globally and regionally with the weighted ICIS Basket of Automotive Petrochemicals (IBAP).

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