Mexican Market Forecast Revised Down
January 17, 2000
Mercedes-Benz Mexico, a wholly owned subsidiary of major international truck maker DaimlerChrysler AG, said the Mexican heavy-duty truck market would remain flat during 2000 due to credit constraints.
A total of 26,942 heavy duty trucks were sold in Mexico last year, up 12.6% from 1998 sales of 23,527 units.
But the president of Mercedes-Benz Mexico said lack of credit will stunt growth in the commercial truck sector this year, according to reports by Reuters News Service.
The firm's president estimated that Mercedes would sell 8,500 to 9,000 units of Class 8-type heavy-duty trucks in Mexico this year, versus 8,500 units during 1999.
Exports of Mercedes-Benz-produced heavy-duty trucks from Mexico are expected to rise to 18,000 units this year from last year's 15,000 units, an increase of 20 per cent. Mercedes is Mexico's largest exporter of heavy-duty trucks.
The new Mercedes-Benz forecast represents a change from last November, when DaimlerChrysler officials in Mexico City disclosed that the company expected sales of more than 90,000 units of vehicles in Mexico during 2000, due to growing vehicle demand in a presidential election year.
The revised forecast is not expected to affect DaimlerChrysler's plans to spend $20 million to $30 million to modernize two Mercedes truck plants in Mexico.