Despite the strike of the United Auto Workers in five vehicle assembly plants in the United States, Mexico’s National Auto Parts Industry (INA), representing the fourth largest producing country of auto parts in the world, adjusted upwards its production forecast for all of 2023 to $117.5 billion, 12.1 percent more compared to 2022, said today the general director of the business chamber, Armando Cortés.
Cortés said it is the fourth upward adjustment. In January the expected increase for 2023 was 3.9 percent, in April it increased to 7.5 percent, in July it increased to 12.4 percent and now the current 12.1 percent. In June, the historical maximum was recorded with $10.57 billion of auto parts produced and in August it was said that $11.0 billion will be exceeded in a single month.
In July, the value of production was $10.37 billion, 23.9 percent more than the same month last year.
Regarding the workers' strike that began on September 15 in five vehicle assembly plants and 38 auto parts distribution centers in the United States, Cortés said that the four-week impact is $412 million.
This impact represents 63.8 percent of the four-week export average in the export forecast for 2023, which averages $645 million.
With more than 900 companies members of the INA, Mexico is the fourth largest supplier of auto parts in the world, only surpassed by Japan, the United States and China.