June 5, 2020 / 3:07 PM / a month ago

Mexico car exports, production plunged in May during pandemic

MEXICO CITY, June 5 (Reuters) - Mexico auto production and exports again dropped sharply in May, data from the national statistics agency showed on Friday, as measures to contain the spread of coronavirus kept car manufacturing plants shuttered and consumer demand weak.

Production plunged 93.7% in May from a year earlier to 22,119 units, while exports fell 95.1% to 15,088 units.

Output was up from just 3,722 units in April, while exports were down from 27,889 units last month.

The Mexican Automotive Industry Association estimated that the auto industry accounts for about 4% of the country’s gross domestic product and generates nearly 1 million direct jobs. (Reporting by Anthony Esposito; Editing by Richard Chang)

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