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    Analysis

    February 20, 2014

    January NAFTA Automotive Production and Sales

    Written by Peter Wright

    In 12 months through January 16,126,151 light vehicles and 440,473 medium and heavy trucks were assembled in the NAFTA. On a rolling 12 month basis year over year (y/y) light vehicle assemblies were up by 5.2 percent. In 3 months through January y/y the increase was 2.6 percent. Momentum is negative since the short term gain is less than the long term which means that production is slowing. In 3 months through January y/y the US was the only country to have positive growth in light vehicle assemblies at 6.1 percent. Canada and Mexico contracted at 1.7 percent and 5.8 percent respectively.

    The mix of light vehicle production in Mexico is quite different from the US and Canada though Mexico has changed substantially since April last year. The proportion of autos in the total light vehicle mix in the US and Canada is 40 percent, the balance being light trucks which includes crossovers. In Mexico the Auto proportion is currently 56.5 percent, down from 65.0 percent in the last nine months (Figure 1). There has been a major shift towards light trucks in the US since the pre-recession time frame.   

    Peter Wright

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