Mexico. Grupo Ciosa, the auto parts distribution company in Mexico, announced the merger with AutoTodo Mexicana, as well as the acquisition of 75% of the shares of Jetz App.
During the official announcement event, Jorge Huguenin, president of Grupo Ciosa, said: "We are convinced that this merger will allow us to multiply our value and reach a turnover of 300 million dollars per year, with the aim of doubling this figure in the next 5 years. The alliance with AutoTodo and the acquisition of Jetz App are fundamental steps to create the most powerful Mexican auto parts distribution network, providing it with a catalog that covers between 85 and 90% of its total needs."
Data provided by the National Auto Parts Industry (INA) highlight that the automotive industry plays a crucial role in the Mexican economy, only during the first quarter of the year, this industry represented 4.38% of the National GDP and 21.04% of the manufacturing GDP.
In Mexico, the automotive sector is made up of more than 215,000 economic units, of which 69% correspond to repair, body shop and painting establishments, while the remaining 31% is dedicated to the retail and wholesale sale of parts, spare parts, oils, lubricants and other components.
Among the key data of the alliance are that:
- The group will expand its catalog from 12,000 to 80,000 part numbers, providing a greater variety of products to its customers.
- The merger and acquisition will double the number of Grupo Ciosa employees, from 800 to nearly 1,600 employees, thus strengthening national talent in the automotive sector.
- The integration of Ciosa's 23 distribution centers with AutoTodo's 11 centers will streamline operations and eliminate duplication, improving efficiency and customer service.
In addition, aftermarket e-commerce of auto parts was estimated at about $77 billion in 2022 and is projected to triple, reaching $239 billion by 2029.
