May 8, 2020 / 2:49 PM / 19 days ago

Mexico car exports, production nosedive amid coronavirus crisis

MEXICO CITY (Reuters) - Mexico auto production and exports plummeted in April, data from the national statistics agency showed on Friday, as the coronavirus pandemic forced shut car manufacturing plants and sapped consumer demand for new vehicles.

Production plunged 98.8% in April from a year earlier to just 3,722 units, while exports fell 90.2% to 27,889 units.

The Mexican Automotive Industry Association estimates that the automotive industry makes up about 4% of the country’s gross domestic product and generates nearly 1 million direct jobs.

Reporting by Anthony Esposito; Editing by Steve Orlofsky

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