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Effect of Peso Devaluation Causes Slump in Domestic Sales of Motor Vehicles

ISSN:1054-8890
LADB Article ID: 56179
Category/Department: Mexico
Date: 1995-04-05
By: LADB Staff

The severe recession that has gripped Mexico since the end of last December appears to be taking a heavy toll on the motor vehicle industry, where sales have plummeted because of a loss of purchasing power by most of the population. Many potential customers are either unemployed or cannot afford to purchase new vehicles given the high interest rates and general rise in prices set in motion by the peso devaluation. The trends are reflected in statistics released by the three major motor vehicle industry organizations: the Asociacion Mexicana de la Industria Automotriz (AMIA), the Asociacion Mexicana de la Industria de Automotores (AMDA), and the Asociacion Nacional de Productores de Autobuses, Camiones, y Tractocamiones (ANPACT).

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