Mexico‘s auto parts production for the export market broke a record in 2022, but production for the domestic market is still below its all-time high.
Last year, total Mexican auto parts production was US$107.617 billion, an increase of 13.5% year-on-year.
Separately, production for the foreign market grew 13.7% year-on-year, to 89.24 billion dollars.
At the same time, manufacturing for the domestic market rose 3.3%, to US$18.393 billion.
The automotive sector is highly competitive and sensitive to economic, political and social factors in different regions.
During the last nine months ended June 2023, global light vehicle production increased 8.8% year-on-year driven by improved production volumes in North America, EMEA, Asia and China.
Moving forward, Adient expects the operating environment to remain challenging in the coming months as the automotive industry recovers from supply chain disruptions, manages inflationary pressures and raw material price volatility on certain input costs, and addresses the impacts of rising interest rates and volatile consumer demand.
Auto parts in Mexico
Mexico’s production of automotive parts destined for sale abroad had the following sequence: $79.310 billion in 2018, $81.076 billion in 2019, $64.814 billion in 2020, $78.452 billion in 2021 and $89.224 billion in 2022.
In addition, the global spread of the Covid-19 pandemic and its variants in recent years has had various direct and indirect adverse impacts on the automotive industry and economies around the world.
While some of the adverse impacts of the pandemic have abated, other direct and indirect adverse impacts have continued, such as general supply chain disruptions, including global semiconductor supply shortages and regional shutdowns imposed by government authorities in China during portions of 2022.
These impacts continue to negatively affect the global economy and the automotive industry, and some of them have persisted into 2023.
Auto parts production for the local market had this succession: $17.823 billion in 2018, $16.152 billion in 2019, $14.070 billion in 2020, $16.232 billion in 2021 and $18.393 billion in 2022, according to data from the National Auto Parts Industry (INA).