Latin America. At this week's press conference convened by Mexico's National Auto Parts Industry (INA), its director, Alberto Bustamente, estimated a production closure of 102,226 million dollars at the end of 2022.
Of this amount, US$84,520 million would correspond to exports and US$17,428 million to the domestic market. This would mean an increase of 7.9% in relation to the production of US$ 94,788 million in 2021.
According to Bustamente, these are "very encouraging figures that make a bigger gap with our competitor that we recently passed that is Germany", indicating that the European country will have an approximate production closure of US $ 94,000 million.
But the INA went a step further in its forecasts and forecast a slight increase in the following years with production of US$103,151 million in 2023 and US$103,927 million in 2024, which would translate into an increase of 1.18% and 0.75% respectively.
Between January and April 2022, the INA reports a production of US$34,513 million, which is equivalent to an increase of 7.59% compared to the same period of the previous year (US$31,891 million in 2021).
As for the main states of auto parts production in Mexico, those of the northern zone stand out with 52.1%, led by Coahuila (16.9%). This in turn leads the share in terms of export of auto parts with 22.2%. The second largest exporter is Guanajuato (12.2%) and the third Nuevo León (9.3%).
Foreign investment
One of the most outstanding figures of the first quarter of this year is the US$524 million raised by Foreign Direct Investment (FDI) in Mexico's auto parts sector.
Most of it corresponded to U.S. investment for the strengthening of the North American automotive cluster, effect of the Mexico, United States, Canada Agreement (T-MEC) that on July 1 marked 2 years of entering into force.
"The US$524 million of investment captured are very encouraging figures," Bustamente said, explaining that this corresponds to the relocation of companies from Asia, as part of China's import substitution.
The president of the INA stressed that the United States imports from Mexico 40% of its total purchases of automotive parts and components.
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