Mexican auto exports hit record high in June 2017

Mexico’s automobile exports set a record in June, sustained by a rise in deliveries to buyers in the United States, the Mexican Auto Industry Association (AMIA) stated.

Automobile exports rose 12 percent from a year earlier, where as production increased 4.9 percent.

The auto factories of the country exported 276,626 vehicles and produced 334,606 in June, AMIA noted.

Automobile exports to the United States, Mexico’s leading trading partner, reached 215,235 vehicles in June, up almost 16 percent.

Deliveries dropped 6.7 percent in Latin America and 0.6 percent in Europe, where as exports to Asia increased nearly 64 percent.

Mexico represent about one-fifth of car production in North America.

Overall vehicle exports throughout the first six months of the year also set a record high, of 1.51 million units, rise of 14 percent from a year earlier.

The Mexican government is stimulating for renegotiation of the North American Free Trade Agreement (NAFTA) with the United States and Canada, as U.S. President Donald Trump has said that a new pact needs to be fairer to his country’s employees and companies.

Mexico’s thriving vehicle sector has benefited from NAFTA as major producers have made the country a top export hub, attracted by low-cost labor and free trade pacts with over 40 countries.