The National Auto Parts Industry (INA) has projected that, by 2024, the production value of the sector will reach 103,927 million dollars.

Alberto Bustamante, general director of the INA, confirmed that the item will have sustained growth in the next two years, since they project that this 2022 will exceed 102,226 million dollars, which represents a growth of 7.9%, compared to the 2021, which was 94,788 million dollars.

While it is expected that, by 2023, the Mexican auto parts industry will reach 103,151 million dollars, which will represent a growth of 1.18%, compared to the end of this year, this will boost exports with the benefits generated by the Free Trade Agreement between Mexico, the United States and Canada (T-MEC).

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From 2019 to 2021, a foreign direct investment (FDI) of 10,000 million dollars has been promoted in the Mexican auto parts sector.

In the first quarter of 2022, 542 million dollars have been added in investments, of this total volume, 438 million dollars are from the United States, 43 million dollars from Germany, 38 million dollars from Spain, 14 million dollars from Korea and 9 million dollars from France .

The participation by state of FDI in the category of auto parts, Nuevo León stands out as the first destination with 30.3%, followed by Chihuahua with 28.9%, Guanajuato with 10.1%; Coahuila with 7.9%, Tamaulipas with 5.7%, San Luis Potosí with 4.4%, Jalisco generated 4%, Mexico City with 3.9%, Aguascalientes with 2% and the rest of the states accumulate 3% of the investments.

The regional content value established in the T-MEC in the automotive industry requires light vehicles to contain 75 percent by July 1, 2023. While for heavy vehicles there will be a progressive change, until reaching 70% on the same date but in 2026.

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With this panorama, the opportunities that are observed to increase foreign investment, either direct or to increase supply, are ample in North America, taking as a reference the end of 2021, which added 93,602 million dollars in imports of auto parts from China, Japan , South Korea, Thailand, Taiwan, Vietnam and Malaysia, as well as from Germany, Spain and France.

In Solili you can consult industrial warehouses available in Guadalajara, Tecate and Tijuana

Original note