Mexico Attracts 815 Auto Parts Manufacturers by November 2023

The National Auto Parts Industry (INA) reported an influx of investments from 815 companies across 35 countries during a recent press conference. This surge is tied to Mexico's extensive trade agreements, making the automotive components sector attractive for global capital. Emphasizing the sector's compliance with international regulations and the need for certifications to enter the Mexican market, INA highlighted the industry's global appeal.

Between 2006 and November 2023, Mexico attracted Foreign Direct Investment (FDI) from 815 companies dedicated to vehicle parts manufacturing. The United States led with 29% of the total, equivalent to 234 companies, followed by Japan (159 companies), South Korea (96 companies), and Germany (90 companies). These nations represent key contributors to FDI in the Mexican auto parts industry.

Armando Cortés Galicia, INA's director, detailed the positive trajectory of Mexico's automotive components sector, showcasing a trade balance of US$34.4 billion from January to November 2023. He further elaborated on the sector's increasing export prowess, rising from 83% in 2020 to 87% in November 2023, with the United States as a primary export destination.

Despite challenges from the pandemic, INA highlighted the sector's resilience, evident in sustained growth and monthly historical production records. Mr. Cortés Galicia expressed confidence that the sector is poised to achieve a production value of US$125.5 billion by the year's end, signaling a robust recovery and continued success for Mexico's auto parts industry.