The president of the Mexican Institute of Finance Executives (IMEF), Alejandro Hernández, indicated that in the automotive and aeronautical industries in Mexico there has been a substitution of suppliers with problems in the delivery delay of their respective products by companies established in Mexico, with outstanding cases in the Bajío region and in  Saltillo, Coahuila.

Mexico exported cars for US$ 17,024 million to the United States from January to June 2022, reaching leadership in this indicator for the first time, according to figures from the US Department of Commerce and displacing Japan, which led exports, from the first position. of cars to the US market since 2018.

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Mexico's achievement occurs two years after the entry into force of the Treaty between Mexico, the United States and Canada (T-MEC), an agreement that creates favorable conditions for the relocation of essential production processes, while companies generally seek a reduction in the risks of the supply chains, either due to the effects of Covid-19, Russia's invasion of Ukraine or logistical problems, among other factors.

After Mexico, the largest auto exporters to the United States during the first half of 2022 were Japan ($15.518 million), Canada ($13.644 million), South Korea ($9.641 million), and Germany ($8.625 million).

From all over the world, the United States imported automobiles for a customs value of US$ 77,402 million in the first half of the current year, a year-on-year increase of 4%, ranking as the largest global importer of these products.

In an interpretation of the context, Jessica Roldán, vice president of the IMEF Technical Committee, commented: “Mexico's economic activity is driven by two important parts: manufacturing and services. Inside, we have been supported by solid external demand, certain services still recovering and strong remittances that are generating a certain dynamism in consumption.”

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Both Hernández and Roldán evaluated as challenges for Mexico high inflation, weak economic growth, uncertainty in investments, with the exception of Foreign Direct Investment -more linked to exports-, and declining US consumption.

Within the framework of the T-MEC, on January 6, 2022, Mexico presented a request for the establishment of a dispute resolution panel related to the application and interpretation of the rules of origin in the automotive industry. The first written phase has already concluded and the hearing took place on August 2 and 3, 2022.

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