Mexico’s auto production was down 23% year on year in September, an industry body has said. However, a rise in output versus August has sparked suggestions the worst could be over for the country’s embattled auto industry.
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The Mexican automotive industry association, AMIA, said local carmakers produced 146,295 vehicles in September, 23% down on September 2008. That was, however, up 9% on August output and the third consecutive month of gains.
Importantly for a country that exports most of its production, auto shipments in September were also up over August and at their highest level since late last year, reaching 117,433 units.
Despite the relatively good news, the deep slump in production experienced earlier in the year meant the AMIA was unwilling to raise its forecast for an overall decline in production and exports of 30% for the year.
