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Mexico March 2024: Chevrolet Silverado and Toyota Hilux highlight strongest market in 7 years

The Chevrolet Silverado/Cheyenne ranks #10 in March.

In March, the Mexican new light vehicle market is up 4.7% year-on-year to 124,395 sales. This is the strongest result for the month since March 2017 (137,021). As a result the Q1 tally is up 11% to 349,752. Brand leader Nissan (+4%) is ultra dominant again at 18.9% share vs. 17.7% so far this year. It is followed by three manufacturers beating the market: Chevrolet (+13.5%), Volkswagen (+22.2%) and Toyota (+25.7%), however their market share is only slightly above the YTD level for Chevrolet and clearly down for VW and Toyota. Kia (+2.5%) takes a breather at #5 ahead of Mazda (+1.8%) and MG (+1.8%) also soft. Ford (+32.4%) and Hyundai (+17%) are strong in the remainder of the Top 10. Chinese fare Chirey aka Chery (-53.9%) implodes at #20, as does Omoda (-62.5%) at #27, while BAIC shoots up 95.5% and Jaecoo jumps to #38.

Over in the models lane, the Nissan Versa (+20.6%) shoots up to cement its domination at 7.3% share vs. 6.5% so far this year, selling almost double the amount of the #2, the new Kia K3 breaking its volume record but down slightly vs. February share-wise at 3.8% vs. 3.9%. The Nissan NP300 (-20.9%) freefalls but overtakes the Chevrolet Aveo (+2.1%) vs. last month. The MG 5 (-5.4%) stays at #5, a ranking it also holds year-to-date. The Toyota Hilux (+102.3%), VW Virtus (+79.7%) and Nissan Kicks (+37%), the latter reaching its highest ranking since December 2022 at #7. But the best performer in the Top 10 is the Chevrolet Silverado/Cheyenne up 158.7% year-on-year and 28 spots month-on-month to #10

Previous month: Mexico February 2024: Kia K3 up to #2 in highest February in 7 years

One year ago: Mexico March 2023: Dodge, Renault, Mazda stand out

Full March 2024 Top 47 All brands and Top 332 All models below.

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