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Mexico - Trucks - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Nov 1, 2024

Mexico - Trucks - Market Analysis, Forecast, Size, Trends and Insights

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Apr 26, 2023

Price of Mexican Trucks Drops to $27,388 per Unit

Mexico Truck Export Price in December 2022

In December 2022, the truck price stood at $27,388 per unit (FOB, Mexico), dropping by -1.9% against the previous month. Overall, the export price saw a slight shrinkage. The most prominent rate of growth was recorded in January 2022 when the average export price increased by 11% m-o-m. As a result, the export price reached the peak level of $37.7M per thousand units; afterwards, it flattened through to December 2022.

Average prices varied noticeably for the major external markets. In December 2022, the country with the highest price was the United States ($27,674 per unit), while the average price for exports to Canada stood at $23,631 per unit.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (-1.0%).

COUNTRYDec 2021Jan 2022Feb 2022Mar 2022Apr 2022May 2022Jun 2022Jul 2022Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022
Export Price of Truck in Mexico (thousand USD per unit)
United States34.538.531.833.833.334.333.026.127.926.826.728.027.7
Canada26.626.626.626.6N/A26.626.623.323.323.323.354.023.6
Average34.037.731.333.133.233.932.825.927.526.626.427.927.4

Mexico Truck Export Prices by Type

Prices varied noticeably by the product type; the product with the highest price was diesel or semi-diesel trucks of a g.v.w. over 20 tonnes ($223K per unit), while the average price for exports of spark-ignition trucks of a g.v.w. under 5 tonnes ($23,631 per unit) was amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for the following types: spark-ignition trucks of a g.v.w. over 5 tonnes (+8.4%), while the prices for the other products experienced more modest paces of growth.

Mexico Truck Exports

In December 2022, shipments abroad of trucks was finally on the rise to reach 93K units for the first time since September 2022, thus ending a two-month declining trend. In general, exports enjoyed a temperate expansion. The growth pace was the most rapid in February 2022 when exports increased by 128% m-o-m. The exports peaked at 127K units in September 2022; afterwards, it flattened through to December 2022.

In value terms, truck exports expanded notably to $2.5B (IndexBox estimates) in December 2022. Over the period under review, exports saw a relatively flat trend pattern. The growth pace was the most rapid in May 2022 when exports increased by 93% against the previous month. Over the period under review, the exports hit record highs at 3.4B units in September 2022; however, from October 2022 to December 2022, the exports remained at a lower figure.

Mexico Truck Exports by Type

Spark-ignition trucks of a g.v.w. under 5 tonnes (85K units) was the largest type of truck exported from Mexico, accounting for a 91% share of total exports. Moreover, spark-ignition trucks of a g.v.w. under 5 tonnes exceeded the volume of the second product type, diesel or semi-diesel trucks of a g.v.w. from 5 to 20 tonnes (6.3K units), more than tenfold. Diesel or semi-diesel trucks of a g.v.w. under 5 tonnes (982 units) ranked third in terms of total exports with a 1.1% share.

From December 2021 to December 2022, the average monthly rate of growth in terms of the volume of export of spark-ignition trucks of a g.v.w. under 5 tonnes totaled +1.3%. With regard to the other exported products, the following average monthly rates of growth were recorded: diesel or semi-diesel trucks of a g.v.w. from 5 to 20 tonnes (+15.5% per month) and diesel or semi-diesel trucks of a g.v.w. under 5 tonnes (+30.3% per month).

In value terms, spark-ignition trucks of a g.v.w. under 5 tonnes ($2B) remains the largest type of truck exported from Mexico, comprising 79% of total exports. The second position in the ranking was held by diesel or semi-diesel trucks of a g.v.w. from 5 to 20 tonnes ($341M), with a 13% share of total exports. It was followed by diesel or semi-diesel trucks of a g.v.w. over 20 tonnes, with a 6.5% share.

From December 2021 to December 2022, the average monthly rate of growth in terms of the export volume of spark-ignition trucks of a g.v.w. under 5 tonnes was relatively modest. With regard to the other exported products, the following average monthly rates of growth were recorded: diesel or semi-diesel trucks of a g.v.w. from 5 to 20 tonnes (-1.4% per month) and diesel or semi-diesel trucks of a g.v.w. over 20 tonnes (+2.5% per month).

Mexico Truck Exports by Country

the United States (86K units) was the main destination for truck exports from Mexico, accounting for a 93% share of total exports. Moreover, truck exports to the United States exceeded the volume sent to the second major destination, Canada (4K units), more than tenfold.

From December 2021 to December 2022, the average monthly rate of growth in terms of volume to the United States totaled +2.0%.

In value terms, the United States ($2.4B) remains the key foreign market for truck exports from Mexico, comprising 94% of total exports. The second position in the ranking was taken by Canada ($96M), with a 3.8% share of total exports.

From December 2021 to December 2022, the average monthly growth rate of value to the United States was relatively modest.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the truck market in Mexico. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 29104110 - Goods vehicles with a diesel or semi-diesel engine, of a gross vehicle weight . 5 tonnes (excluding dumpers for off-highway use)
  • Prodcom 29104130 - Goods vehicles with a diesel or semi-diesel engine, of a gross vehicle weight > 5 tonnes but . .20 tonnes (including vans) (excluding dumpers for off-highway use, tractors)
  • Prodcom 29104140 - Goods vehicles with compression-ignition internal combustion piston engine (diesel or semi-diesel), of a gross vehicle weight > .20 tonnes (excluding dumpers designed for offhighway use)
  • Prodcom 29104200 - Goods vehicles, with spark-ignition internal combustion piston engine, other goods vehicles, new

Country coverage:

  • Mexico

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Mexico
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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