Ildefonso Guajardo
Minister
Ministry of Economy
/
Insight

A Long-Term Automotive Commitment

Tue, 09/01/2015 - 15:21

While most of the focus lies on the development of large suppliers and OEMs within the Mexican automotive industry, it is important not to overlook the significance that the auto parts industry and the automotive aftermarket also play in this growth. In April 2015, during the opening statement for the 5th edition of Expo INA, the Minister of Economy, Ildefonso Guajardo Villarreal, conveyed his recognition for the auto parts segment and what it has done for the automotive industry. “Fifty years ago we were planning to build an auto parts industry in the country, but we could have never imagined what all these companies have achieved,” he explains. “The history of this sector began in 1962 with the Automotive Decree, and its companies succeeded in manufacturing individual auto parts for vehicles that are distributed to 120 countries all over the world. Nowadays, 51% of auto parts are exported, with the sector showing an approximate annual growth of 9% since 2007, which gives us an idea of the segment’s growth potential. Currently, the auto parts segment represents 7.4% of Mexico’s manufacturing GDP, 11.8% of the total exports, and 18% of the total jobs in the manufacturing industry.”