Mexican auto exports post first annual decline in 10 years

Mexican auto exports posted their first decline in a decade last year, while production in the industry registered its biggest fall over the same period, official data showed on Wednesday, the latest evidence of weakness plaguing the economy.

Auto production slipped by 4.1% to 3,750,841 units in 2019, national statistics agency INEGI said. That was the second annual decline in succession and the biggest since a drop of some 28% during the Mexican recession of 2009.

Exports fell by 3.4% to 3,333,586 units last year, the data showed, marking the first annual decline since 2009.