MEXICO CITY, Aug. 2 (Xinhua) -- The Mexican automotive sector could close 2019 with yet another drop, in what would be its third consecutive year of setbacks, the Mexican Automotive Dealers Association (AMDA) announced on Friday.
The sector's main organization stated in a communique that in the first six months of the year, unit sales decreased 6.6 percent compared to last year, with 744,296 vehicles sold.
In July, 105,699 units were sold, 7.9 percent less than sales reported in the same month in 2018, bringing the sector into its 26th straight month in the negative.
Guillermo Rosales, director general of the AMDA, said that "the crisis phase" in the sector is due to the stagnant economy, which has prompted consumers to postpone buying decisions.
"The negative tendency is continuing and it has been predicted that 2019 will be the third consecutive year in a row with a drop in the automotive market," Rosales explained in a written declaration to the media.
In 2018, vehicle sales fell 7.1 percent compared to the previous period, making this the sector's second consecutive year of setbacks after the previous record reported in 2016.
Mexico, the second largest economy in Latin America after Brazil, has found itself in a deceleration phase in line with global rhythms.
The Mexican economy grew 2 percent last year, but the Bank of Mexico foresees a slowdown for 2019 of between 0.8 to 1.8 percent.
