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Polaris, Denso hit the skids as Mexican autos status suffers during COVID-19

Canada 409 Cons. Discr. - Autos 884 Coronavirus 307 Mexico 683 U.S. 4312

The automotive industry in North America suffered a major reversal in trade activity in May as a result of COVID-19 driven closures of factories and a drop in demand. Mexican exports of auto parts to the U.S. and Canada slumped 87.0% and 97.9% lower respectively in May as most factories were not deemed as essential by the Mexican government. The most extensive downturns were seen at American Axle and Denso with shipments close to zero. Denso’s had previously been improving while American Axle’s had been falling for several months. The outlier was recreational vehicle maker Polaris with s...

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