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Mexico continues its historic trend in auto parts production

Mexico. The production of auto parts continues to grow emphatically in Coahuila, Guanajuato and Nuevo León.

During a press conference, the National Auto Parts Industry (INA) explained that in February 2024 the production value exceeded 10,300 million dollars, representing an increase of 13.15% in production compared to February 2023, and an increase of 11.12% compared to the first two months of that year.

He also pointed out that the sector registered 883 thousand direct jobs in February of this year.

Michelle Sagrero, INA Communications Manager, highlighted that the Northern, Bajio and Central areas of the country represent about 95% of the production of auto parts; Coahuila, Guanajuato and Nuevo León are the states that lead the ranking in this area.

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In terms of production by type of auto parts, the INA reported an approximate 23% increase in the manufacture of suspension components, steering and their parts, reaching 1,370 million dollars. Likewise, the association highlighted significant growth in sectors such as automotive rims and tires (17.87%), rubber automotive products (17.33%), gasoline engines (14.33%) and stampings and parts thereof (11.51%).

Additionally, according to the National Institute of Statistics and Geography (INEGI), the automotive industry in Mexico registered its highest level of auto production and export for an April in history.

In April 2024, the export of 289 thousand 756 cars was reported, 14.4% higher than what was recorded in April 2023.

This figure is the highest percentage change since 2021, when the recovery of the automotive sector began after the impact of the pandemic, and is also the highest since 2017.

The United States is the main destination for assembled cars in Mexico, with more than 85% of cars being assembled for other markets in the country. This influenced the total national production, as 358 thousand 575 cars were assembled in the country in Mexico, 21.7% higher than what was recorded in April 2023.

Laura Restrepo
Author: Laura Restrepo
Editora en Latin Press, Inc.
Comunicadora social y periodista apasionada por las letras e historias. [email protected]

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