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Light vehicle sales fall 8% in July: INEGI – El Sol de México

The sale of light vehicles in the country had a eight percent monthly drop during Julywhen marketing 83 thousand 137 unitsaccording to data from the National Institute of Statistics and Geography (Inegi).

This is the second consecutive setback, after in June also saw a decline of 0.9 percent in the commercialization of automobiles in Mexico.

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“As of July, sales remain stagnant due to the low availability of units for sale in the country,” explained Gabriela Siller, director of economic and financial analysis at Banco BASE.

According to the specialist,Sales performance in the second half of 2022 and in 2023 could also be affected due to higher interest rates and consumer caution, given the risk of a recession in the United States.

If the seventh month of 2022 is compared to the same period in 2021, car sales in Mexico rose 1.2 percent, according to Inegi.

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In turn, in the accumulated from January to July, 601 thousand 561 new cars were sold in the country, which represented 0.2 percent less than what was registered in the same period last year.

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