Mexico auto sales hit record high in October 2026

Performance breakdown by automotive brand

INEGI sales data excludes figures for certain manufacturers such as Tesla and Chinese brands like BYD. Experts estimate that these companies sell over 5,000 units per month, holding a larger market share than MG.

Geely sold nearly 4,400 vehicles in October 2026, a 75.8 per cent increase compared to the previous year. The company has delivered 40,310 units year-to-date, a 164 per cent rise, and is approaching Ford in market share.

Nissan reported 24,512 vehicle sales in October, an 8 per cent increase, with a year-to-date total of 221,592 units. General Motors recorded nearly 18,000 deliveries, up 9.8 per cent, bringing its year-to-date total to 164,572 vehicles.

Volkswagen sales, including Audi, Porsche, Bentley, and SEAT, fell 6.4 per cent to 14,286 units in October. Year-to-date sales for the group reached 140,237 units, a 1.5 per cent increase compared to the first ten months of 2025.

Mazda sold 10,436 vehicles in October, a 12.4 per cent increase, while Kia reported 10,401 units, representing a 10.3 per cent rise. Toyota sales reached just under 10,500 units in October, a 12.4 per cent drop, with year-to-date sales of 104,770 vehicles.

US and Mexico reach initial ethanol trade agreement

On 26 October 2026, US Secretary of Agriculture Brooke Rollins announced that the United States and Mexico had reached an initial agreement to open the Mexican market to US ethanol. The agreement could create a USD 1.5 billion market opportunity and increase US ethanol exports by 32 per cent.

As part of the deal process, Mexican officials recently conducted a technical site visit in Houston, Texas.

Central bank expected to maintain 6.5% interest rate

Mexico's central bank is expected to maintain its extended pause on interest rates during its upcoming meeting. The overnight rate target is anticipated to remain at 6.5 per cent.

Peso trading range against the US dollar

The Mexican peso has experienced a wide trading range during the first three sessions of this week. The dollar's range spanned 30 centavos or more, which is approximately double the range seen in the previous week.

On Monday and Tuesday, the dollar found support against the Mexican peso slightly below MXN18.53. By Wednesday, the currency pair found support at a slightly higher level.

The dollar encountered resistance against the Mexican peso near the MXN18.87 level on Tuesday and Wednesday.

A break below the MXN18.50 level for the dollar against the Mexican peso would increase confidence that a high is in place.

Global ethanol trade and export forecasts

This forecast, issued in August 2026, is nearly 6 per cent higher than the USD 5.1 billion projected in May 2026.

Projections for fiscal year 2027 suggest export values will reach USD 5.5 billion. This figure represents an approximate 2 per cent increase over the forecast for fiscal year 2026.

Seasonal market conditions are expected to make these imports more competitive.

During the first three months of 2026, US ethanol imports to Brazil increased significantly, causing a trade deficit. This occurred because the imported ethanol was cheaper than domestic supplies in Northeast Brazil, despite an 18 per cent import tariff.

Brazil's ethanol trade balance became positive starting in April 2026, according to StoneX. The country recorded its largest monthly surplus in September 2026.

Upcoming economic data releases

Mexico is scheduled to release its capital expenditure data for August. The country will also report its consumer confidence figures for October.