Mexico’s commercial vehicle market 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 hub. The Mexican Automotive Distributors Association (AMDA) has projected that 56,592 commercial vehicles will be sold this year, surpassing the previous high of 53,300 sales set in 2007.
This surge is closely tied to Mexico’s expanding role in global trade, particularly through nearshoring—when multinational firms move production closer to major markets like the United States. The increased demand for transportation vehicles reflects the nation’s growing importance in cross-border cargo transport. In 2023, Mexico exported $593 billion worth of goods, most of which moved over land by trucks and tractor-trailers, solidifying the country’s status as the U.S.’s largest trading partner.
Industry experts emphasize the need for continued investments in infrastructure to support this growth. Rogelio Arzate, head of the National Association of Bus, Truck, and Tractor-Trailer Producers (ANPACT), highlighted nearshoring as a key driver for economic development. “Nearshoring represents a unique opportunity for Mexico’s growth,” Arzate stated, stressing the importance of a stable and coordinated supply chain to maximize these benefits.
Major automotive players are responding to this demand. In August, Volvo announced a $700 million investment to build a heavy-duty truck plant in Monterrey, further boosting Mexico’s manufacturing capacity.
With commercial vehicle sales projected to hit new heights, the sector is poised to play a significant role in Mexico’s broader economic expansion.
