MEDELLIN, Colombia (ICIS)--Mexican domestic automobile production increased by 11.8% in July year on year, the Mexican Automakers Association (AMIA) said on Wednesday.
The total number of autos produced was 284,398 in July, up from 254,312 units during the same time last year, AMIA said in a statement.Accumulated total production from January through July was lower year on year totaling 1,958,368 units, down by 1.2% from last year’s tally of 1,981,869 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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