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MEXICO CITY:
Mexican automotive manufacturing and exports fell for the fifth month operating in November, figures from the nationwide statistics company (INEGI) confirmed on Monday, as ongoing shortages of semiconductors put the brakes on the trade.Mexican automotive manufacturing plunged by 20.25% from November 2020 to 248,960 autos, whereas auto exports declined by 16.46% to 240,341 models, the INEGI knowledge confirmed.
A worldwide semiconductor scarcity has prompted automakers in Mexico and the remainder of North America to implement rolling shutdowns, curbing manufacturing and hitting staff exhausting.
Mexico’s auto manufacturing fell by 20% to three.04 million autos final 12 months through the first section of the coronavirus pandemic, and the Mexican Automotive Trade Affiliation (AMIA) has forecast that it might drop by as much as 5% extra in 2021.
Within the first 11 months of 2021, Mexican automotive manufacturing fell by 0.68% from the identical interval final 12 months to 2,767,004 autos, whereas auto exports over the identical interval elevated by 3.02% to 2,479,515 models, INEGI figures present.
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Round 198,300 new vehicles have been registered in November in Germany, in line with the federal transport authority (KBA), 31.7 p.c fewer than in the identical month final 12 months.
“Continued world provide chain disruption is one principal issue behind the sluggish knowledge,” Finance Minister Hong Nam-ki stated, referring to the auto chip scarcity.
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