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Record Number of Automobiles Sold in Mexico in 2005

(Akron/Tire Review) A record 1.13 million automobiles were sold in Mexico in 2005, up 3.3 percent from the year before, the Mexican Automotive Industry Association, or AMIA, announced on Tuesday.

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Vehicle production rose 6.6% in 2005 to 1.6 million cars and light trucks, reversing the negative trend of the past four years.

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AMIA said in a statement that with the 3.3% hike in national car sales last year, the total rise in sales over the past five years comes to 5.9%, "which makes our country one of the more outstanding markets" in comparison to others around the world.

Auto sales in Mexico, a country of 107 million people, grew 0.1% in December, exports rose 63.5% compared to the same month in 2004 and vehicle production increased 33.3%.

AMIA attributed the favorable industry results to the country’s macroeconomic stability, the falling trend in interest rates, the peso’s stability versus the dollar and low inflation, which was just 3.3% in 2005.

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