Mexico Auto Output Falls to Lowest October Level in Nine Years

(Bloomberg) -- Mexico’s auto production dropped 25.9% in October from a year earlier to the lowest level for the month since 2012, according to the national statistics agency, INEGI. 

Auto output fell to 257,813 vehicles versus 347,906 a year earlier as exports dropped 19.9% to 224,535 autos through the same period. 

The worst-hit automaker was General Motors Co. which saw a 69% drop in production. Kia Motors and Volkswagen both posted a 38% drop in output. Over the past month, Ford Motor Co. and Nissan halted some plant operations in Mexico amid the semiconductor chip shortage. 

October vehicle sales dropped 9.1% from a year earlier to 76,640 units last month to the lowest level for any October in the last ten years, the agency reported last week.

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