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Mexico auto production, exports nosedive as coronavirus bites

MEXICO CITY, April 6 (Reuters) - Mexico’s auto production and exports plummeted in March, data from the national statistics agency INEGI showed on Monday, as demand dried up and car makers halted their production lines due to the coronavirus pandemic.

Production fell 24.6% in March versus the same month last year to reach 261,805 units, while exports tumbled 11.9% to 285,075 units.

Sales of new passenger vehicles dropped 25.5% in March versus a year earlier, data from the Mexican Association of Automobile Distributors (AMDA) showed on Thursday.

The Mexican Automotive Industry Association estimates that the automotive industry makes up 3.8% of the country’s gross domestic product and generates about 980,000 direct jobs. (Reporting by Anthony Esposito Editing by Alistair Bell)