Motorists are cruising up and down the central Paseo de la Reforma honking horns to the tune of "Viva Mexico!" and waving Mexican flags from auto windows and moonroofs.
Mexico's President-elect Andres Manuel Lopez Obrador says he supports reaching a deal to renegotiate the North American Free Trade Agreement with the United States and Canada. Early Monday, with about 50 percent of the votes counted, Lopez Obrador's advantage was close to the quick count's statistical sample.
In his account, Lopez Obrador did not mention trade, and Trump gave no further details on a possible trade pact.
He added "I recognize his triumph".
Jose Antonio Meade, 49, is Mexico's former finance minister.
Concerning the thorny US-Mexico relationship, the leftist president-elect has promised to put Trump "in his place". He conceded defeat in a televised speech.
Lopez Obrador has said he will fund increased social spending on pensions for the elderly and scholarships for youths by eliminating waste and fighting corruption.
His detractors argue he would set the country back decades with an economic policy of state.More news: Trump delaying NAFTA deal until after midterm elections
Lopez Obrador won thanks to overwhelming anger at the status quo and his success at presenting himself as an agent of change.
Lopez Obrador has enjoyed a wide lead in opinion polls since the beginning of the campaign.
The Mexican peso and the country's main stock index are both down about 1 percent following the crushing victory by leftist Andres Manuel Lopez Obrador in the country's presidential elections.
Mexico's main stock index and the peso were both down Monday, but analysts at Banco Base attributed the currency's drop to broader global movement in favour of the US dollar and speculation about USA interest rates.
In all, eight governorships plus the capital are up for grabs in Sunday's vote.
Officials estimated voter turnout at 63 percent among the 89 million people who were eligible to vote in Mexico's biggest-ever elections.
Most voting locations in Mexico closed at 6 pm, local time.
Mexico recorded about 29,000 killings previous year, the highest annual number since modern records started being kept two decades ago.More news: Hundreds of homes imperiled as NorCal fire spreads
"We are conscious of the need to maintain good relations with the United States".
Lopez Obrador's coalition is also within striking distance of a congressional majority - a coup for a party contesting its first national elections. "I wish I could have joined the crowds packed into the Zocalo last night in Mexico City to celebrate this historic moment", said Corbyn, using both English and Spanish, in a video posted on his official Facebook page.
Trump stated that Mexico would pay for the border wall during his presidential campaign.
"Lopez Obrador said he would "seek to establish an authentic democracy and we do not intend to establish a dictatorship".
He also began campaigning relentlessly around Mexico with the message that he alone could fix the country's problems, calling out his opponents as corrupt and inept. The head of the country's electoral institute, Lorenzo Cordova, said voting was proceeding "peacefully, without major incidents", and that only four of the 156,807 polling places failed to open.
Lopez Obrador said he wants to have information on what's being discussed and "to help as much as we can".
According to exit polls, the sharp-tongued, silver-haired politician known as "AMLO" won by a large margin over his two main rivals, who both conceded defeat shortly after the polls closed - laying to rest concerns that a deeply divided country could face prolonged uncertainty over the victor.
Even so, the peso weakened around 1 per cent against the dollar and Mexico's S&P/BMV IPC benchmark stock index was also down nearly 1.5 per cent as exit polls showed Lopez Obrador's MORENA party performed strongly in the elections, which were also for members of Congress.More news: Moog warns that Trump trade tariffs pose a threat to its business