Mexico's Heavy-Vehicle Industry Reports Production and Exports Records for 2023

In 2023, Mexico's heavy vehicle production reached historic figures, reflecting the manufacturing momentum in the country. This surge was driven by a reactivation of exports and local consumption, as well as the nearshoring phenomenon, according to the top industry group in the sector.

Last year, the country produced 222,541 trucks and buses, 177,541 of which were destined for the export market.

"These figures represent a landmark for the industry," said Alejandro Osorio, Head of Public Affairs at theNational Association of Bus, Truck and Tractor-Trailer Producers (ANPACT).

According to Osorio, production and exports in 2023 were 6.4% and 11% higher than the previous year, respectively. He stated that the industry's performance indicates the consolidation of post-pandemic recovery and a strong drive from customers to replace the current fleet of vehicles, which averages 17-19 years.

ANPACT members, such as representatives from Volvo, VW, Kenworth, and other manufacturers, said that 2024 will be a crucial year for the industry. They anticipate a strong push due to incoming investments and the presidential elections, which traditionally involve political and economic tension.

Some of the topics that ANPACT places on the negotiating table with the next administration, "regardless of their political orientation," include improving energy infrastructure and ensuring compliance with USMCA's regional content requirements. These requirements are set to increase from 60% to 64% this year.