Warning light: Mexican car sales slump ahead of election

The first drop in auto sales in eight years is the most visible sign the great Mexican shopper, the heart and soul of Latin America’s second largest economy, is feeling the pinch of inflation at a 16-1/2-year high and a battered peso.

A government decision to scrap fuel subsidies last year has made running a car more expensive, while the central bank’s battle with inflation has put car loans out of reach for many.

Source: Reuters