Auto Sales in Mexico Climb to Highest in Six Years Brendan Case - Bloomberg News
go to original January 9, 2014

Annual auto sales in Mexico rose to the highest level since 2007 as car financing expanded and the economy grew for the fourth straight year.

Buyers in Mexico pushed purchases up 7.7 percent last year to 1.06 million vehicles, a trade group representing auto dealers said today in Mexico City. Last month’s 119,364 new-car purchases were the most for any month since December 2007.

The results were buoyed by the number of vehicles bought on credit, which jumped 13 percent during the first 11 months of the year, the latest period for which figures are available, according to the Mexican Auto Dealers Association.
Story: The Year That Carmakers Revved Up Loans

“We’re seeing a rebound from purchases that were delayed during the crisis years,” Guillermo Rosales, executive director of institutional relations at the dealers group, told reporters in Mexico City. “Six years after the crisis, we’re just getting back to the sales level of 2008 and we’re still below 2007.”

Domestic sales may reach as many as 1.15 million vehicles this year, beating the 2006 record high of 1.14 million, Rosales said. The Mexican economy may expand 3.5 percent this year, more than twice as fast as the 1.3 percent growth rate seen for 2013, according to estimates compiled by Bloomberg.

Read the rest at Businessweek

We invite you to add your charity or supporting organizations' news stories and coming events to PVAngels so we can share them with the world. Do it now!