December 6, 2017 / 4:08 PM / a year ago

Mexico's auto exports rise, domestic sales fall

MEXICO CITY, Dec 6 (Reuters) - Mexican auto exports soared 11.9 percent in November compared with the previous year, the country’s main auto industry group said on Wednesday, but domestic sales fell for the sixth consecutive month due to declining demand for small cars.

Auto production shot up 4.5 percent, the Mexican Auto Industry Association (AMIA) said. Domestic sales slumped 8.5 percent.

Mexico’s booming auto sector has become a growth engine for the economy and an export hub for the industry due to the North American Free Trade Agreement. Manufacturers have been lured to the sector by cheaper labor and numerous free trade agreements. (Reporting by Sheky Espejo; writing by Julia Love)

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