The National Auto Parts Industry (INA, business chamber), the fourth largest in the world, reported that June registered a new historical record.
“The highest figure in the history of auto parts production in Mexico was reached with $10,569 million, this shows the strength of the auto parts sector and the attractiveness of Mexico to invest in the present and in future projects,” Armando Cortés Galicia said today, director of the INA in a press release.
In the first semester, the production value totaled $60.03 billion, 17.5 percent more compared to the same period last year. Of all the auto parts items, the greatest dynamism was recorded in the production of bodywork with an increase of 34 percent, going from $1.11 billion to $1.49 billion, in the same period.
Of the total production of the first semester, five states contributed 57.3 percent. Coahuila is the main auto parts economy in Mexico with 15.4 percent of the total. The other four are Guanajuato (13.1 percent), Nuevo León (12.2 percent), Chihuahua (8.8 percent) and Querétaro (7.9 percent).
Despite the new historical record, the INA maintained its forecast for all of 2023 unchanged at 115.8 billion, 10.5 percent more than last year's production value.
Cortés Galicia said that in the first semester the United States bought 84.7 percent of total Mexican auto parts exports (51.37 billion) and Canada received 3.5 percent of the total. On the Mexican import side, the United States exported 55.0 percent of the total imported (33.82 billion) to Mexico, China 14.0 percent and Japan 6.5 percent.
Mexico is the largest supplier of auto parts in the United States with a market share of 42.9 percent, far surpassing the second largest supplier, Canada with 10.9 percent, and China, which contributes 7.7 percent.
Another important element that Cortés Galicia highlighted was that imports of auto parts for motorcycles increased 41 percent in the last five years; However, in the first half of the year, this type of imports decreased 13.9 percent, compared to the same period in 2022, due to local production.
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. In 2021, Mexico ousted Germany from fourth position, the business chamber reported.