The commercial vehicle market in Mexico is on track to set a new sales record in 2024, with industry leaders pointing to the country’s growing role as a manufacturing and trade center. The Mexican Association of Automotive Distributors (AMDA) has projected that 56,592 commercial vehicles will be sold this year, surpassing the previous record of 53,300 units set in 2007.
This boom is closely related to Mexico’s growing participation in global trade, particularly through “nearshoring,” when multinational companies move production closer to key markets such as the United States. The increase in demand for transport vehicles reflects the country’s importance in cross-border cargo transportation. In 2023, Mexico exported $593 billion in goods, most transported by road using trucks and tractor-trailers, cementing its status as the US’s largest trading partner.
Industry experts highlight the need to continue investing in infrastructure to support this growth. Rogelio Arzate, president of the National Association of Bus, Truck and Tractor Producers (ANPACT), noted that nearshoring is a key driver of economic development. “Nearshoring represents a unique opportunity for Mexico’s growth,” said Arzate, underscoring the importance of a stable and coordinated supply chain to maximize these benefits.
The big players in the automotive industry are responding to this demand. In August, Volvo announced a $700 million investment to build a heavy-duty truck plant in Monterrey, which will further increase Mexico’s manufacturing capacity.
With commercial vehicle sales projected to hit new records, the sector is poised to play a crucial role in Mexico’s economic expansion.
