Queretaro to Launch New International Automotive Summit

Mexico’s automotive industry seeks close investments surpassing US$3.5 million during the first edition of the International Automotive Supply Summit 2023, organized by the National Auto Parts Industry (INA) in the Queretaro Convention Center. The event is set to be a meeting point for over 2,000 auto parts manufacturers and 4,000 service providers in the Mexican sector. 

“Queretaro is the epicenter of auto parts production, for that reason, we are happy to host the International Automotive Supply Summit 2023,” wrote Marco Antonio Del Prete Tercero, Minister of Sustainable Development (SEDESU) of Queretaro, in his Twitter account. 

The Automotive Supply Summit 2023 aims to tackle the challenges the industry faces, as INA expects that by the end of 2022, the Mexican sector will surpass its pre-pandemic production levels and workforce, as reported by MBN. The organization expects automotive production to surpass US$105 billion in 2022, with a 4 percent increase in employment levels, which would be the second highest growth in employment that the industry has seen since 2018. 

“Querétaro occupies a privileged place in the production of auto parts. The objective of the first summit is to link the supply chain with business appointments, keynote speakers, over 8,000 attendees, 400 booths and a total of 400 stands,” said Francisco Gonzáles Díaz, President, INA, according to El Economista. 

This year, Queretaro signed on 13 new investment projects for the automotive industry, which have created 1,324 new jobs for the sector. Del Petre said that this corresponds to 30.9 percent of the investments that have been made in the sector in 2022. He highlighted the importance that the auto parts manufacturers played in the attraction of US$24.1 million investment in Foreign Direct Investment (FDI), according to the Ministry of Economy. 

"Queretaro is in ninth place in terms of the value of auto parts production; it is the tenth entity that contributes the most to the national total," Del Petre told El Economista. 

Mexico’s automotive industry is paying close attention to the USMCA discussion panels, as the resignation of Tatiana Clouthier caused uncertainty among representatives of the sector. “We are concerned that at this stage of the administration, we have yet another change in one of the most important ministries for Mexico's growth and development. We believe that the permanence of a Minister in the Ministry of Economy is fundamental to create much greater confidence for investment,” said José Zozaya, Executive President, AMIA, as reported by MBN.