Total sales of lightweight automobiles in Mexico, 1988-2016

Abstract

The automotive industry in Mexico has been strengthened in such a way that the country is already part of the Top 15 of those that produce and sell the most cars in the world. From 2010 to 2016, it went from place 16 to 12 among the countries that sell more vehicles in the world, according to data from the International Organization of Automobile Manufacturers (OICA). Six years ago, Mexico sold 503 thousand 748 vehicles, which placed it in 16th place worldwide. The country was below Russia (1 million 912 thousand) Canada (694 thousand 349) or Spain (982 thousand 015) (HuffPost, 2017). The objective of the work was to analyze the variables that most influence the total sales of light vehicles in Mexico. To carry out the study, a multiple linear regression model of the total sales of light automobiles in Mexico was elaborated according to the exchange rate, the monthly average remuneration, the interest rate, unemployment and the inflation rate. Of the results obtained, the variation of the VTA according to the coefficient of determination (R2) was explained in 93.75% by the variables included in the equation, of which, the most statistically significant variables were the monthly average remuneration, the Unemployment rate and the exchange rate. According to the elasticities, the greatest effect on sales was the average monthly remuneration and the exchange rate. Although the interest rate and inflation are very important variables and were not significant.