The estimated value of auto parts production in Mexico for 2023 is $121.7 billion dollars, this is $4.2 billion more than the estimate also made by the business chamber “Industria Nacional de Autopartes” (INA), in the first days of the month ongoing, according to press reports.
The higher estimated value of auto parts production is due to the fact that the United States will conclude 2023 with the best level of sales of new vehicles since 2019, which affects the production of inputs in Mexico, said the general director of the INA, Armando Cortés, cited an informative news item by the Reforma newspaper.
For 2024, the estimated value of production is $125.0 billion, which registering that value would represent an increase of 2.7 percent compared to 2023.
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.