According to ACT Research’s new Mexican Trailer Market report, commercial trailer registrations in Mexico have increased 21 per cent year-to-date through June 2024.
According to ACT Research & Publications Manager, Bailey Schnur, in 2016, there were 293 trailer manufacturers registering units in Mexico, while in 2023, a record-high 335 manufacturers were adding trailers to the fleet.
“While the number of OEMs has declined slightly, trailer registrations in Mexico have increased since 2016. In that year, there were 21,070 commercial trailers registered in Mexico, with that number increasing to 32,620 new trailers registered in 2023, and 18,358 units registered in 1H 24,” Schnur said.
Compared to June 2023 when 15,224 trailers were registered, industry capacity is up 21 per cent with half the year remaining. Of the new trailers through June 2024, 73 per cent of them were registered by the top 25 manufacturers in Mexico. Four of those top manufacturers are US-based and hold 14 per cent of the total trailer market below-the-border registrations.
According to ACT Research Chief Economist, David Teolis, nearshoring has presented a significant opportunity to enhance the economic importance of both Mexico and the United States, acting as a catalyst for increased manufacturing investment, infrastructure development and supply chain resilience.
“Though the path to realising these strategic advantages involves navigating certain risks and challenges, nearshoring is poised to drive regional economic competitiveness, growth, and stability over the long term,” he said.
Meanwhile, truck crossings at the Mexican border rose 4.4 per cent year-on-year in September and are up 3.3 per cent year to date through the third quarter. Truck crossings from Mexico have grown considerably since the pandemic.
In other news, CIMC Group has released its third quarterly results report of 2024.