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Latam Insights: Mexico—Automotive Sector Performance and Outlook to June 2023
In the first half of 2023, the Mexican automotive sector continues showing signs of stabilization in supply chains even as production levels remain below its peak, in 2019, making significant gains also in domestic and foreign sales. At end-H1, the sector reflects still solid domestic demand, supported by a strong labour market, and increases in real wages. Additionally, production and exports have benefited from further stabilization in supply chains, although we see some risks ahead (chart 1 and table 1). chart table In June, domestic sales growth accelerated to 25.7% y/y, equivalent to 113.5k units sold. On a ... (full story)