Despite the drop in global motor vehicle assembly in 2024, the International Organisation of Motor Vehicle Manufacturers (Oica) has confirmed that Mexico has risen from seventh to fifth place in the list of largest producing countries.
Meanwhile, the Latin American nation's North American trading partners, namely the United States and Canada, reduced manufacturing by 1 per cent and 14 per cent respectively compared to 2023.
In its 2024 annual report, Oica reports that the global automotive industry assembled 92,504,338 units, down 1% from 2023.
China took first place with 31,281,592 units, followed by the US (10,562,188), Japan (8,234,681) and India (6,014,691).
Mexico climbed to fifth place, overtaking Germany and South Korea, with production of 4,202,642 vehicles.
ALL RIGHTS RESERVED © Copyright ANSA
