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2020 vehicle sales in Mexico fall to 9-year low due to COVID-19

MEXICO CITY
2021-01-07 05:54

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MEXICO CITY, Jan. 6 (Xinhua) -- Light vehicle sales in Mexico plunged 28 percent in 2020 compared to the previous year, marking a nine-year low due to the novel coronavirus disease, according to official figures published on Wednesday.

The automotive market sold 949,353 units last year, versus 1,317,931 vehicles in 2019, the National Institute of Statistics and Geography (Inegi) reported.

It was the lowest yearly figure since 2011, when 905,893 units were sold, Inegi records showed.

According to the Mexican Association of Automotive Distributors, "expected sales for the Mexican market in 2021 is in the order of 1,065,000 units, which would mean an increase of 12.6 percent compared to 2020."

"However, the most important factor will continue to be COVID-19, in so far as a successful vaccination program is implemented to contain the spread of the pandemic and its negative impact on the economy," the trade group added.

The Mexican economy, the second-largest in Latin America after Brazil, may have seen a 9 percent drop in 2020 due to the pandemic, its worst setback since the 1930s, according to estimates by the International Monetary Fund.
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