Boston, MA -- (ReleaseWire) -- 02/20/2014 -- Light vehicle sales in Mexico decreased 2.0% y-o-y in September 2013, to 78,351 units. Over the year to date, sales in this segment have increased 7.3% y-o-y, to 755,315 units. This recent moderation in sales growth is in line with BMI's core view that the market would cool slightly in the final months of 2013, mostly due to base effects from strong sales figures in Q412. We forecast passenger car sales to increase 6.6% and LCV sales to increase 8.0% in 2013. BMI maintains a bullish view on the Mexican consumer story, as retail sales have remained resilient in recent months and broader measures of consumer sentiment are positive.
Light vehicle production in Mexico dropped 4.6% year-on-year (y-o-y) in September 2013, to 241,740 units. Over the first nine months of the year, however, light vehicle output increased 4.4% y-o-y, to 1,986,759 units, on the back of increases in production for export and the domestic market. BMI forecasts passenger car production to increase 6% and light commercial vehicle (LCV) production to increase 4.5% in 2013. We expect to see output pick up slightly in the final few months of the year chiefly on the back of increasing production for export volumes.
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