Mexico Automotive Market Report and Forecast 2025-2034
Description
The Mexico automotive market size is projected to grow at a CAGR of 3.80% between 2025 and 2034. The market is being driven by the growing manufacturing and export of vehicles in the country.
Mexico is the 7th largest manufacturer of passenger vehicles worldwide. It is also the 6th largest producer of heavy-duty vehicles worldwide and ranks among the top 5 automobile producers in the world. This is because of the presence of cheap, yet technically skilled labour, high-quality infrastructure, and favourable government policies. Increasing investments by the Mexican government for creating a thriving business environment is expected to accelerate the Mexico automotive market growth in the forecast period.
The United States is a key export destination for vehicles manufactured in Mexico. Many American automobile manufacturers nearshore their operations to Mexico to overcome logistical challenges which increase the price of goods in other markets. This trend is also witnessed in the case of other Asian automotive manufacturers, which are gradually shifting their manufacturing operations to Mexico, thereby driving the market growth.
Chinese businesses aiming to expand their market presence in North America can also stand to gain significant benefits by moving their production operations to Mexico. This could result in a cost saving of 5-20% due to the thriving economic condition of the country and favourable government policies. This is expected to drive the Mexico automotive market development in the forecast period.
The shift towards electric vehicles is one of the key Mexico automotive market trends, which is likely to favour the market expansion. Technological advancements aimed at enhancing sustainable development are revolutionising the Mexican automotive industry. As rising consumer awareness about carbon emissions drives the electrification of transport, the demand for electric vehicles is expected to result in a big boost, thereby driving the market growth.
Market Segmentation
Mexico Automotive Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:
Market Breakup by Vehicle Type
Hatchback
Multi-purpose Vehicle
Sedan
Sports Utility Vehicle
Market Breakup by Engine Type
Hybrid And Electric Vehicles _x000D_ _x000D_ BEV _x000D_ FCEV _x000D_ HEV _x000D_ PHEV _x000D_ _x000D_
Hybrid And Electric Vehicles _x000D_ _x000D_ BEV _x000D_ FCEV _x000D_ HEV _x000D_ PHEV _x000D_ _x000D_
Internal Combustion Engine Vehicle _x000D_
_x000D_ _x000D_ CNG _x000D_ Diesel _x000D_ Gasoline _x000D_ LPG _x000D_ _x000D_
Internal Combustion Engine Vehicle _x000D_
_x000D_ _x000D_ CNG _x000D_ Diesel _x000D_ Gasoline _x000D_ LPG _x000D_ _x000D_
Market Breakup by Region
Baja California
Northern Mexico
The Bajío
Central Mexico
Pacific Coast
Yucatan Peninsula
Competitive Landscape
Key Mexico automotive market players are engaged in upscaling their production capacities to meet the increasing demand for smart vehicles from domestic consumers.
The key market players are:
BMW AG
Ford Motor Company
Mercedes-Benz Group AG
Honda Motor Co. Ltd.
Volvo AB
Tesla Inc.
Toyota Motor Corp.
Volkswagen AG
Nissan Motor Co. Ltd.
Hyundai Motor Company
Others
Mexico is the 7th largest manufacturer of passenger vehicles worldwide. It is also the 6th largest producer of heavy-duty vehicles worldwide and ranks among the top 5 automobile producers in the world. This is because of the presence of cheap, yet technically skilled labour, high-quality infrastructure, and favourable government policies. Increasing investments by the Mexican government for creating a thriving business environment is expected to accelerate the Mexico automotive market growth in the forecast period.
The United States is a key export destination for vehicles manufactured in Mexico. Many American automobile manufacturers nearshore their operations to Mexico to overcome logistical challenges which increase the price of goods in other markets. This trend is also witnessed in the case of other Asian automotive manufacturers, which are gradually shifting their manufacturing operations to Mexico, thereby driving the market growth.
Chinese businesses aiming to expand their market presence in North America can also stand to gain significant benefits by moving their production operations to Mexico. This could result in a cost saving of 5-20% due to the thriving economic condition of the country and favourable government policies. This is expected to drive the Mexico automotive market development in the forecast period.
The shift towards electric vehicles is one of the key Mexico automotive market trends, which is likely to favour the market expansion. Technological advancements aimed at enhancing sustainable development are revolutionising the Mexican automotive industry. As rising consumer awareness about carbon emissions drives the electrification of transport, the demand for electric vehicles is expected to result in a big boost, thereby driving the market growth.
Market Segmentation
Mexico Automotive Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:
Market Breakup by Vehicle Type
Hatchback
Multi-purpose Vehicle
Sedan
Sports Utility Vehicle
Market Breakup by Engine Type
Hybrid And Electric Vehicles _x000D_ _x000D_ BEV _x000D_ FCEV _x000D_ HEV _x000D_ PHEV _x000D_ _x000D_
Hybrid And Electric Vehicles _x000D_ _x000D_ BEV _x000D_ FCEV _x000D_ HEV _x000D_ PHEV _x000D_ _x000D_
Internal Combustion Engine Vehicle _x000D_
_x000D_ _x000D_ CNG _x000D_ Diesel _x000D_ Gasoline _x000D_ LPG _x000D_ _x000D_
Internal Combustion Engine Vehicle _x000D_
_x000D_ _x000D_ CNG _x000D_ Diesel _x000D_ Gasoline _x000D_ LPG _x000D_ _x000D_
Market Breakup by Region
Baja California
Northern Mexico
The Bajío
Central Mexico
Pacific Coast
Yucatan Peninsula
Competitive Landscape
Key Mexico automotive market players are engaged in upscaling their production capacities to meet the increasing demand for smart vehicles from domestic consumers.
The key market players are:
BMW AG
Ford Motor Company
Mercedes-Benz Group AG
Honda Motor Co. Ltd.
Volvo AB
Tesla Inc.
Toyota Motor Corp.
Volkswagen AG
Nissan Motor Co. Ltd.
Hyundai Motor Company
Others
Table of Contents
103 Pages
- 1 Executive Summary
- 1.1 Market Size 2024-2025
- 1.2 Market Growth 2025(F)-2034(F)
- 1.3 Key Demand Drivers
- 1.4 Key Players and Competitive Structure
- 1.5 Industry Best Practices
- 1.6 Recent Trends and Developments
- 1.7 Industry Outlook
- 2 Market Overview and Stakeholder Insights
- 2.1 Market Trends
- 2.2 Key Verticals
- 2.3 Key Regions
- 2.4 Supplier Power
- 2.5 Buyer Power
- 2.6 Key Market Opportunities and Risks
- 2.7 Key Initiatives by Stakeholders
- 3 Economic Summary
- 3.1 GDP Outlook
- 3.2 GDP Per Capita Growth
- 3.3 Inflation Trends
- 3.4 Democracy Index
- 3.5 Gross Public Debt Ratios
- 3.6 Balance of Payment (BoP) Position
- 3.7 Population Outlook
- 3.8 Urbanisation Trends
- 4 Country Risk Profiles
- 4.1 Country Risk
- 4.2 Business Climate
- 5 Latin America Automotive Market Overview
- 5.1 Key Industry Highlights
- 5.2 Latin America Automotive Historical Market (2018-2024)
- 5.3 Latin America Automotive Market Forecast (2025-2034)
- 5.4 Latin America Automotive Market Breakup by Country
- 5.4.1 Brazil
- 5.4.2 Mexico
- 5.4.3 Argentina
- 5.4.4 Others
- 6 Mexico Automotive Market Overview
- 6.1 Key Industry Highlights
- 6.2 Mexico Automotive Historical Market (2018-2024)
- 6.3 Mexico Automotive Market Forecast (2025-2034)
- 7 Mexico Automotive Market by Vehicle Type
- 7.1 Hatchback
- 7.1.1 Historical Trend (2018-2024)
- 7.1.2 Forecast Trend (2025-2034)
- 7.2 Multi-purpose Vehicle
- 7.2.1 Historical Trend (2018-2024)
- 7.2.2 Forecast Trend (2025-2034)
- 7.3 Sedan
- 7.3.1 Historical Trend (2018-2024)
- 7.3.2 Forecast Trend (2025-2034)
- 7.4 Sports Utility Vehicle
- 7.4.1 Historical Trend (2018-2024)
- 7.4.2 Forecast Trend (2025-2034)
- 8 Mexico Automotive Market by Engine Type
- 8.1 Hybrid And Electric Vehicles
- 8.1.1 Historical Trend (2018-2024)
- 8.1.2 Forecast Trend (2025-2034)
- 8.1.3 Breakup by Type
- 8.1.3.1 BEV
- 8.1.3.2 FCEV
- 8.1.3.3 HEV
- 8.1.3.4 PHEV
- 8.2 Internal Combustion Engine Vehicle
- 8.2.1 Historical Trend (2018-2024)
- 8.2.2 Forecast Trend (2025-2034)
- 8.2.3 Breakup by Type
- 8.2.3.1 CNG
- 8.2.3.2 Diesel
- 8.2.3.3 Gasoline
- 8.2.3.4 LPG
- 9 Mexico Automotive Market by Region
- 9.1 Baja California
- 9.1.1 Historical Trend (2018-2024)
- 9.1.2 Forecast Trend (2025-2034)
- 9.2 Northern Mexico
- 9.2.1 Historical Trend (2018-2024)
- 9.2.2 Forecast Trend (2025-2034)
- 9.3 The Bajío
- 9.3.1 Historical Trend (2018-2024)
- 9.3.2 Forecast Trend (2025-2034)
- 9.4 Central Mexico
- 9.4.1 Historical Trend (2018-2024)
- 9.4.2 Forecast Trend (2025-2034)
- 9.5 Pacific Coast
- 9.5.1 Historical Trend (2018-2024)
- 9.5.2 Forecast Trend (2025-2034)
- 9.6 Yucatan Peninsula
- 9.6.1 Historical Trend (2018-2024)
- 9.6.2 Forecast Trend (2025-2034)
- 10 Market Dynamics
- 10.1 SWOT Analysis
- 10.1.1 Strengths
- 10.1.2 Weaknesses
- 10.1.3 Opportunities
- 10.1.4 Threats
- 10.2 Porter’s Five Forces Analysis
- 10.2.1 Supplier’s Power
- 10.2.2 Buyers Powers
- 10.2.3 Threat of New Entrants
- 10.2.4 Degree of Rivalry
- 10.2.5 Threat of Substitutes
- 10.3 Key Indicators for Demand
- 10.4 Key Indicators for Price
- 11 Competitive Landscape
- 11.1 Supplier Selection
- 11.2 Key Global Players
- 11.3 Key Regional Players
- 11.4 Key Player Strategies
- 11.5 Company Profiles
- 11.5.1 BMW AG
- 11.5.1.1 Company Overview
- 11.5.1.2 Product Portfolio
- 11.5.1.3 Demographic Reach and Achievements
- 11.5.1.4 Certifications
- 11.5.2 Ford Motor Company
- 11.5.2.1 Company Overview
- 11.5.2.2 Product Portfolio
- 11.5.2.3 Demographic Reach and Achievements
- 11.5.2.4 Certifications
- 11.5.3 Mercedes-Benz Group AG
- 11.5.3.1 Company Overview
- 11.5.3.2 Product Portfolio
- 11.5.3.3 Demographic Reach and Achievements
- 11.5.3.4 Certifications
- 11.5.4 Honda Motor Co. Ltd.
- 11.5.4.1 Company Overview
- 11.5.4.2 Product Portfolio
- 11.5.4.3 Demographic Reach and Achievements
- 11.5.4.4 Certifications
- 11.5.5 Volvo AB
- 11.5.5.1 Company Overview
- 11.5.5.2 Product Portfolio
- 11.5.5.3 Demographic Reach and Achievements
- 11.5.5.4 Certifications
- 11.5.6 Tesla Inc.
- 11.5.6.1 Company Overview
- 11.5.6.2 Product Portfolio
- 11.5.6.3 Demographic Reach and Achievements
- 11.5.6.4 Certifications
- 11.5.7 Toyota Motor Corp.
- 11.5.7.1 Company Overview
- 11.5.7.2 Product Portfolio
- 11.5.7.3 Demographic Reach and Achievements
- 11.5.7.4 Certifications
- 11.5.8 Volkswagen AG
- 11.5.8.1 Company Overview
- 11.5.8.2 Product Portfolio
- 11.5.8.3 Demographic Reach and Achievements
- 11.5.8.4 Certifications
- 11.5.9 Nissan Motor Co. Ltd.
- 11.5.9.1 Company Overview
- 11.5.9.2 Product Portfolio
- 11.5.9.3 Demographic Reach and Achievements
- 11.5.9.4 Certifications
- 11.5.10 Hyundai Motor Company
- 11.5.10.1 Company Overview
- 11.5.10.2 Product Portfolio
- 11.5.10.3 Demographic Reach and Achievements
- 11.5.10.4 Certifications
- 11.5.11 Others
Pricing
Currency Rates
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