Mexico’s Automotive Market Reaches Record High in 2026
Overview:
Mexico’s light vehicle market achieved unprecedented success in the first three quarters of 2026, with sales driven by increased inventory, fierce competition from both Chinese and traditional auto brands, and a slight reduction in retail vehicle prices.
Sales Performance:
- Total Sales: 1,144,002 new light vehicles sold from January to September 2026.
- Year-over-Year Increase: A 5% rise from 2025, equating to 54,851 more vehicles sold than the 1,089,151 vehicles in the same period last year.
Guillermo Rosales, AMDA’s executive president, highlighted that this period represents the highest cumulative sales recorded by INEGI, surpassing the previous record set in 2016 by 1.9%.
September Highlights:
- Sales Figures: 129,288 vehicles sold in September 2026, marking an 8% increase from 119,766 in September 2025. This is the highest monthly sale for September in a decade.
- Forecast Exceedance: Sales outperformed AMDA’s initial estimate of 118,665 units by 8.2%.
Despite a slight 0.1% decrease (73 units) from August, the overall trend remains strong.
Automotive Leaders:
- Top-selling brands include Nissan, GM, Volkswagen, and Toyota. Kia and Mazda follow, with Stellantis and Ford round out the top ten, facing competition from Geely.
Brand Performance:
- Nissan: +15.7%
- Stellantis: +43%
- Mazda: +15%
- GM: +9%
- Hyundai: +3.3%
- Toyota: +3.2%
- Volkswagen: -1.6%
- Kia: -5.7%
- Honda: -9%
Chinese Manufacturer Highlights:
Chinese automakers like Geely (up 91%) and Jetour Soueast (up 84.6%) have seen significant sales increases. JAC and MG also reported modest growth, while Changan and Great Wall experienced declines.
Economic Factors:
- Increased vehicle inventory and favorable financing options have contributed to market growth.
- The inflation rate for vehicle purchases decreased by 0.35% annually, while the National Consumer Price Index reports a 3.42% year-over-year inflation.
Future Outlook:
AMDA predicts potential moderation in growth rates for the last quarter of 2026 due to anticipated price adjustments from a 50% tariff on direct imports from China. Some manufacturers plan to absorb tariff costs or leverage free trade agreements to mitigate the impact.
Economic Projections for 2026:
- GDP Growth: 1.40%
- Annual Inflation: Expected to reach 3.87%, decreasing to 3.82% by the end of 2027.
This comprehensive performance report underscores the resilience and dynamism of Mexico’s automotive market, positioning it for potential future growth despite external pressures.
