Trucking officials credit nearshoring and US demand for Mexico’s 18% y/y increase in truck production and 13% y/y increase in exports in February. ANPACT’s Miguel Elizalde said supply chains are recovering, but delivery times are still 6+ months, indicating regularization has yet to occur. Nearshoring operations are providing a boost.

“We have observed concrete and positive facts regarding the fact that the investment of the automotive industry in nearshoring is a real trend,” Elizalde said. “Today more than ever we have to focus on the renewal of cargo and passenger units to take advantage of this momentum.” Truck makers and parts manufacturers in Mexico include Freightliner, Kenworth, Navistar, Hino, International, DINA, MAN SE, Mercedes-Benz, Isuzu, Scania, Cummins, and Detroit Diesel. 

The US was the top destination for trucks produced in Mexico in February (96%), followed by Canada (2.4%). Freightliner was the leading truck exporter, with 8,869 units (-0.4% y/y); International Trucks Inc. produced 5,693 (+48% y/y) and exported 5,108 (+63% y/y); Kenworth manufactured 1,414 (+27% y/y) and exported 448 (-14% y/y).

Sources:

https://www.freightwaves.com/news/exports-of-mexican-built-cargo-trucks-hit-13231-in-february