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Mexico - Trucks - Market Analysis, Forecast, Size, Trends and Insights
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Article Publishing Date: 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%).
| COUNTRY | Dec 2021 | Jan 2022 | Feb 2022 | Mar 2022 | Apr 2022 | May 2022 | Jun 2022 | Jul 2022 | Aug 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Export Price of Truck in Mexico (thousand USD per unit) | |||||||||||||
| United States | 34.5 | 38.5 | 31.8 | 33.8 | 33.3 | 34.3 | 33.0 | 26.1 | 27.9 | 26.8 | 26.7 | 28.0 | 27.7 |
| Canada | 26.6 | 26.6 | 26.6 | 26.6 | N/A | 26.6 | 26.6 | 23.3 | 23.3 | 23.3 | 23.3 | 54.0 | 23.6 |
| Average | 34.0 | 37.7 | 31.3 | 33.1 | 33.2 | 33.9 | 32.8 | 25.9 | 27.5 | 26.6 | 26.4 | 27.9 | 27.4 |
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.
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. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
2.1
KEY FINDINGS
2.2
MARKET TRENDS
This Chapter is Available Only for the Professional Edition
PRO
3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
8.1
IMPORTS FROM 2012–2022
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
9.1
EXPORTS FROM 2012–2022
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
LIST OF TABLES
Table 1:
Key Findings In 2022
Table 2:
Market Volume, In Physical Terms, 2012–2022
Table 3:
Market Value, 2012–2022
Table 4:
Per Capita Consumption In 2012-2022
Table 5:
Imports, In Physical Terms, By Country, 2012–2022
Table 6:
Imports, In Value Terms, By Country, 2012–2022
Table 7:
Import Prices, By Country Of Origin, 2012–2022
Table 8:
Exports, In Physical Terms, By Country, 2012–2022
Table 9:
Exports, In Value Terms, By Country, 2012–2022
Table 10:
Export Prices, By Country Of Destination, 2012–2022
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2022
Figure 2:
Market Value, 2012–2022
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2022
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2022
Figure 5:
Trade Balance, In Physical Terms, 2012-2022
Figure 6:
Trade Balance, In Value Terms, 2012-2022
Figure 7:
Per Capita Consumption, 2012-2022
Figure 8:
Market Volume Forecast to 2030
Figure 9:
Market Value Forecast to 2030
Figure 10:
Products: Market Size And Growth, By Type
Figure 11:
Products: Average Per Capita Consumption, By Type
Figure 12:
Products: Exports And Growth, By Type
Figure 13:
Products: Export Prices And Growth, By Type
Figure 14:
Production Volume And Growth
Figure 15:
Exports And Growth
Figure 16:
Export Prices And Growth
Figure 17:
Market Size And Growth
Figure 18:
Per Capita Consumption
Figure 19:
Imports And Growth
Figure 20:
Import Prices
Figure 21:
Production, In Physical Terms, 2012–2022
Figure 22:
Production, In Value Terms, 2012–2022
Figure 23:
Imports, In Physical Terms, 2012–2022
Figure 24:
Imports, In Value Terms, 2012–2022
Figure 25:
Imports, In Physical Terms, By Country, 2022
Figure 26:
Imports, In Physical Terms, By Country, 2012–2022
Figure 27:
Imports, In Value Terms, By Country, 2012–2022
Figure 28:
Import Prices, By Country Of Origin, 2012–2022
Figure 29:
Exports, In Physical Terms, 2012–2022
Figure 30:
Exports, In Value Terms, 2012–2022
Figure 31:
Exports, In Physical Terms, By Country, 2022
Figure 32:
Exports, In Physical Terms, By Country, 2012–2022
Figure 33:
Exports, In Value Terms, By Country, 2012–2022
Figure 34:
Export Prices, By Country Of Destination, 2012–2022
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