Mexico Trucks Export Market -- HS Code 8704 Trade Data & Price Trend (Mar 2025)

Mexico Trucks Export (HS 8704) Key Takeaways

Mexico's Trucks Export under HS Code 8704 in March 2025 is dominated by spark-ignition engine models under 5 tonnes, with premium diesel variants offering higher pricing power. The market rebounded sharply to $6.46B after a February dip, signaling volatile but stabilizing demand. Exporters face extreme buyer concentration, with one group controlling 98.8% of trade, creating high dependency risks. Over 90% of shipments target the US, leaving Mexico vulnerable to tariff shifts. This analysis is based on cleanly processed Customs data from the yTrade database for March 2025.

Mexico Trucks Export (HS 8704) Background

What is HS Code 8704?

HS Code 8704 classifies motor vehicles designed for the transport of goods, commonly referred to as trucks. These vehicles are critical for logistics, construction, and agriculture, driving stable global demand due to their role in supply chains. Mexico's trucks export under this code reflects its robust automotive manufacturing sector, catering to both domestic and international markets.

Current Context and Strategic Position

The 2025 Harmonized Tariff Schedule revisions [USITC] and proposed tariffs on Mexican vehicle imports [PIIE] underscore shifting trade dynamics. Mexico's trucks export under HS Code 8704 is strategically significant, given its proximity to the U.S. and competitive production costs. Monitoring hs code 8704 trade data is essential to navigate potential policy disruptions and capitalize on Mexico's role as a key supplier in North America. Market vigilance remains critical amid evolving trade measures.

Mexico Trucks Export (HS 8704) Price Trend

Key Observations

Mexico's Trucks exports (HS Code 8704) reached $6.46B USD in March 2025, marking a strong recovery from February's $5.47B USD. The average unit price also rose sharply to $0.88/kg, reflecting improved pricing conditions for the month.

Price and Volume Dynamics

The Mexico Trucks Export trend showed significant volatility in early 2025, with export value dropping in February before rebounding in March. This sequential recovery was driven by both higher shipment volumes and a notable increase in unit prices, suggesting exporters may have been adjusting to potential policy shifts. [USITC] The threat of steep tariffs on Mexican vehicles, floated late last year, likely contributed to this pricing volatility as supply chains adapted to uncertainty. The hs code 8704 value trend now appears to be stabilizing, though much depends on how trade policy evolves in the coming months.

Mexico Trucks Export (HS 8704) HS Code Breakdown

Product Specialization and Concentration

According to yTrade data, Mexico's export of trucks under HS Code 8704 in March 2025 is highly concentrated in vehicles with spark-ignition engines for goods transport under 5 tonnes, specifically the sub-code 87043199, which accounts for over 25% of the total export value with a unit price of approximately 28,600 USD per vehicle. This specialization is evident from the consistent unit prices across most entries, ranging from 25,000 to 37,000 USD, except for an isolated anomaly: the sub-code 8704239900 for heavier diesel trucks, which has a significantly higher unit price of around 112,600 USD, indicating a premium, niche product that is excluded from the main market analysis.

Value-Chain Structure and Grade Analysis

The non-anomalous sub-codes can be grouped into three categories based on engine type: spark-ignition engines (e.g., 87043199 and its variants), compression-ignition diesel engines (e.g., 87042199 and 87042299), and hybrid engines (e.g., 87045199). This structure shows that Mexico's HS Code 8704 export consists of differentiated manufactured goods with varying specifications, rather than fungible commodities, as the unit prices and product descriptions reflect distinct value-add stages tied to engine technology and vehicle weight classes.

Strategic Implication and Pricing Power

Analyzing HS Code 8704 trade data reveals that exporters have moderate pricing power in the volume-driven spark-ignition segment, but higher potential in premium diesel and hybrid variants. Strategic focus should prioritize efficiency in high-volume production while exploring opportunities in higher-value niches to enhance profitability in Mexico's export market for trucks.

Table: Mexico HS Code 8704) Breakdown Details (Source: yTrade)

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Mexico Trucks Export (HS 8704) Destination Countries

Geographic Concentration and Dominant Role

The United States is the dominant destination for Mexico's trucks exports in March 2025, accounting for over 90% of both value (93.31%) and quantity (92.24%). The value share slightly exceeds the quantity share, indicating stronger demand for higher-value or premium truck models. The frequency share is lower at 53.90%, suggesting fewer but larger shipments, which is typical for manufactured goods like trucks under HS Code 8704.

Destination Countries Clusters and Underlying Causes

Beyond the US, countries cluster into two groups based on trade patterns. Canada forms a transactional cluster with a high frequency share (34.06%) but lower value share (3.67%), pointing to frequent, smaller shipments, likely due to cross-border trade dynamics and integrated supply chains. The remaining countries, including Chile and Argentina, represent minor markets with low shares across all metrics, indicating sporadic and niche demand for Mexico's trucks exports.

Forward Strategy and Supply Chain Implications

To mitigate risks, Mexico should prioritize maintaining its US market share while exploring diversification into secondary markets like Canada. The potential for high tariffs on Mexican trucks, as noted in [PIIE], could impact future exports, necessitating supply chain optimizations for cost efficiency and closer alignment with North American trade networks.

Table: Mexico Trucks (HS 8704) Top Destination Countries (Source: yTrade)

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Mexico Trucks (HS 8704) Buyers Analysis

Buyer Market Concentration and Dominance

According to yTrade data, the Mexico Trucks Export buyers market in March 2025 is extremely concentrated. One group of buyers dominates, accounting for 98.8% of the total export value. This group also handles 98.67% of the volume and 91.4% of all shipments. This defines the typical trade for HS code 8704 trade data as large, frequent, and high-value transactions.

Strategic Buyer Clusters and Trade Role

The profile of the dominant HS code 8704 buyers indicates a Direct-to-Factory market. Representative companies are major manufacturers like Peterbilt Motors Company and Kawasaki Motors, Ltd. The other three segments of buyers are minimal, together contributing less than 1.2% of the total export value. Their infrequent and low-volume purchases suggest they are niche or secondary buyers in this trade.

Sales Strategy and Vulnerability

For Mexican exporters, the sales strategy must focus entirely on serving a few large manufacturing clients. This creates high dependency and vulnerability to demand shifts from these major buyers. Any policy disrupting this trade flow, such as the potential for high US tariffs on Mexican vehicle imports noted in recent reports [PIIE], represents a significant risk to the entire Mexico Trucks Export sector.

Table: Mexico Trucks (HS 8704) Top Buyers List (Source: yTrade)

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Action Plan for Trucks Market Operation and Expansion

• Use hs code 8704 trade data to diversify into premium diesel and hybrid truck models. This captures higher margins and reduces reliance on volume-driven spark-ignition segments.
• Strengthen relationships with dominant US buyers like Peterbilt to secure long-term contracts. This stabilizes Mexico Trucks Export revenue against tariff risks or demand shifts.
• Optimize the Trucks supply chain for cost efficiency and faster cross-border logistics. This maintains competitiveness if US tariffs increase, as noted in recent trade analyses.
• Explore secondary markets in Canada with tailored, smaller shipment strategies. This diversifies the Mexico Trucks Export base and leverages integrated North American trade networks.
• Monitor hs code 8704 trade data for emerging buyer trends and policy changes. This allows proactive adjustments to production and export strategies, safeguarding against market disruptions.

Take Action Now —— Explore Mexico Trucks Export Data

Frequently Asked Questions

Q1. What is driving the recent changes in Mexico Trucks Export 2025 March?

Mexico's Trucks exports rebounded to $6.46B USD in March 2025 after a February dip, driven by higher shipment volumes and a sharp rise in unit prices ($0.88/kg). This volatility reflects adjustments to potential US tariff threats, with exporters stabilizing pricing amid policy uncertainty.

Q2. Who are the main destination countries of Mexico Trucks (HS Code 8704) 2025 March?

The US dominates, absorbing 93.31% of export value and 92.24% of volume. Canada is a secondary market (3.67% value share), while Chile and Argentina represent niche demand with minimal shares.

Q3. Why does the unit price differ across destination countries of Mexico Trucks Export?

Price differences stem from product specialization: spark-ignition trucks (e.g., sub-code 87043199) average $28,600 USD, while premium diesel variants (e.g., 8704239900) command $112,600 USD due to niche demand.

Q4. What should exporters in Mexico focus on in the current Trucks export market?

Exporters must prioritize efficiency in high-volume spark-ignition truck production for dominant US buyers while exploring premium diesel/hybrid niches to mitigate reliance on a few large manufacturers.

Q5. What does this Mexico Trucks export pattern mean for buyers in partner countries?

US buyers benefit from stable, large-scale shipments but face supply chain risks if tariffs disrupt trade. Secondary markets like Canada receive smaller, frequent shipments suited for integrated supply chains.

Q6. How is Trucks typically used in this trade flow?

Trucks under HS Code 8704 are primarily manufactured goods for commercial transport, with spark-ignition models (under 5-ton capacity) dominating volume and diesel variants serving premium heavy-duty niches.