Industry data shows that Mexico’s vehicle production plummeted 25% in July from a year earlier, although the trend is showing signs of improvement as shipments to the US start to pick up.
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The Mexican Automotive Industry Association, or AMIA, said that most of Mexico’s output goes to the US and the recent improvement to the market there offers some hope.
“This looks like good news, though it isn’t a trend yet and we have to be cautious about it,” said AMIA head Eduardo Solis said at a press conference.
Mexico’s vehicle exports were down 25.6 percent in July compared to a year earlier.
