Economy Country November 14, 2024

Increase in Heavy Vehicle Sales in Mexico

Sales of trucks, buses, and tractor trucks in Mexico grew 15% wholesale and 11.3% retail from January to October 2023. Continuous growth is anticipated by the end of the year.


Increase in Heavy Vehicle Sales in Mexico

Truck, bus, and heavy truck sales from January to October have experienced a significant increase. Wholesale, the growth was 15%, while retail was 11.3%. This data has led the industry to consider the possibility of surpassing sales of up to 60,000 units by the end of 2024.

In the first 10 months of the year, 51,828 heavy vehicles were sold wholesale, representing an increase of 6,817 units compared to the same period last year. On the other hand, in the retail market, 47,815 units were sold, showing an 11.3% growth compared to last year.

Virginia Olalde, director of foreign trade and economic studies of the National Association of Bus, Truck, and Heavy Truck Producers (ANPACT), mentioned, "We anticipate that by the end of the year, wholesale sales will be around 60,000 units, which would represent a growth of 12.4% over the sales record achieved in 2023."

However, projecting the scenario for 2025, wholesale sales of heavy vehicles could decline to 45,036 units. This potential decrease of 25% is due to factors such as anticipatory purchases of vehicles with new technologies, such as Euro VI and EPA 10, mandatory next year. "Whenever there is a technological change, there is the possibility of a reduction in wholesale sales," highlighted Olalde.

In October, wholesale sales accelerated by 43.5% and retail by 17.8%. Meanwhile, production in that month experienced a slowdown of 7.7%, and in the first 10 months of the year, it fell by 3.9%, with the manufacturing of 179,398 units.

Regarding exports, October recorded a decline of 19.3% and a yearly accumulated decrease of 9%. This downturn is attributed to factors such as the uncertainty generated by the elections in the United States and adjustments in purchases of new units.