In March 2024, new light vehicle sales in Mexico performed well. This represents a year-on-year increase of 4.7%. Sales exceeded 120,000 units to 124,395 units. On a year-on-year basis, year-on-year growth reached 11% in the first three months of 2024. Sales were close to 350,000 units, reaching 349,752 units.
In March, the best-selling Chinese brand was still MG. With 5,015 units sold, it maintained its seventh position. However, the year-on-year growth was only 1.8%, which failed to keep up with the average. JAC and Chery remain in the top 20. But the performance varies. JAC increased by 12.5% year-on-year, with sales reaching 1,927 units. The ranking is down 2 notches from February, and it is in 15th place. Chery's sales fell in half, down 53.9% year-on-year. With sales of 1,553 units, the ranking fell 5 notches from February and ranked 20th.
Other Chinese brands include:
- Changan Automobile fell 40.1% year-on-year to 516 units, maintaining its 26th position
- Omenda fell 62.5% year-on-year, with sales of 392 units, maintaining its ranking of 27th
- BAIC increased by 95.5% year-on-year, with sales of 174 units, ranking down 2 notches to 37th
- With 136 units sold, Jietu moved up five notches to 38th
- Jiangling increased by 32.1% year-on-year, with sales of 111 units, ranking down two notches to 41st
Popular brands performed steadily. The top 12 brands are the same as in February. There is no doubt that Nissan is still the leader in this market. However, although the year-on-year growth is 4%, it is slightly lower than the industry average. However, the market share has expanded. The sales volume was 23,531 units, with a market share of 18.9%. Nissan is the only brand with sales of more than 20,000.
Chevrolet is still in second place. A year-on-year increase of 13.5%, with sales reaching 16,519 units. The market share is 13.3%.
Volkswagen and Toyota are in third and fourth place, respectively. The growth of these two brands is gratifying. Volkswagen increased by 22.2% year-on-year. Toyota was 25.7% y/y. Both have increased by more than 2 percent. Among the top 10 brands, the strongest growth was Ford. A year-on-year increase of 32.4%, an increase of one-third.
Mazda did not perform well. The year-on-year increase was only 1.8%. Suzuki's performance was even weaker. It fell 3.3% year-on-year. It is the only one among the top 10 brands in terms of sales that has fallen.
In terms of models, the MG MG 5 fell by 5.4%, but it still maintained its fifth position with 2,933 units sold.
Nissan Sunshine is still one of Mexicans' favorites. The year-on-year growth rate was 20.6%, which was quite positive. Sales reached 9,143 units, leading the Kia K3 in second place by a wide margin. The Kia K3 maintained its second position with 4,689 units sold. Nissan also has two models in the top 10 list: the NP300 pickup truck and the Jinke SUV. NP300 fell 20.9% year-on-year, a sharp decline. However, the ranking has risen by 1 level from February and is in 3rd place.
Chevrolet has two models in the top 10 list. Avio didn't do very well. The year-on-year growth rate of 2.1% fell short of the average. The ranking also fell from third to fourth place in February. The heavy-duty pickup Silverado performs well. The year-on-year increase was 158.7%, and the sales volume more than doubled. The ranking climbed to 10th from 38th in February. The Silverado was the one with the largest increase in sales among the top 10 models.