In October, vehicle registrations in Mexico grew by 33.47% with respect to October of 1998. In total, 61,505 cars were registered and 661,460 new cars were sold in the last twelve months, 1.94% more than the year before.
The breakdown of car sales figures for the month of October is:
- Commercial vehicles sold: 20,386, 15.17% more than in October of 1998.
- Passenger cars regitrations: 41,119, which represents a figure of 44.89% more than in October of 1998.
Mexico is among the ten countries where the greatest number of cars have been registered in the last year, in ranking of 22 countries based on number of vehicle registrations.
A very useful variable for estimating the level of economic wealth enjoyed by Mexicans residents, when compared to the other countries in the ranking, is the number of vehicles sold or registered per thousand residents in the last year. With annual sales of 6.88 cars per 1,000 residents, 0.64 of them in the last month, Mexico, occupies one of the final places in the ranking, meaning that its population is among those in the table with the least spending power.
As can be seen, the number of registrations per thousand residents has grown in the last year. The increase in this figure is positive, as it generally indicates improved public confidence in the country's economy.
Here we show you the progression of vehicle registrations in Mexico. You can see car registrations in other countries in en vehicle registrations and see all the economic information about Mexico in en Mexican economy.