Exports of auto parts from Mexico to the United States exceeded the pre-Covid-19 level, according to data from the Department of Commerce.
In the first semester of 2021, Mexican parts exports to the US market were 31.092 million dollars, an increase of 0.4% compared to the same period in 2019.
In general, Mexico’s auto parts and automotive sector has been boosted by the productive presence of the world’s leading vehicle assembly companies, including General Motors, Ford, Chrysler, Volkswagen, Nissan, Honda, BMW, Toyota, Volvo, Kia and Mercedes-Benz.
But as in the entire world economy, Covid-19 negatively impacted the automotive sector. As for exports of auto parts from Mexico to its northern neighbor in the first half of 2020, these fell by a third, amounting to 20.83 billion dollars.
In the second quarter of 2020, vehicle production in North America and Europe was significantly affected by closures related to the pandemic.
More recently, globally, vehicle production increased 51% in the second quarter of 2021 compared to the previous year, with North America advancing 132%, Europe 93% and China 3 percent.
Exports of auto parts
Although industry production has returned to pre-Covid-19 levels, in part due to the need for customers to replenish inventory levels, the global auto industry is likely to experience lower over a period of time. Demand for new vehicles as a result of the global economic slowdown caused by Covid-19, according to estimates from Lear Corporation.
This is based on the fact that new vehicle sales are often correlated with positive consumer confidence and low unemployment.
Lear Corporation also continues to monitor its supply base, as well as related production restrictions imposed by various governments, to minimize the impact on its manufacturing operations.
For its part, exports of auto parts from the United States to Mexico were 13.89 billion dollars in the first half of 2021.
Although these external sales were above the same period of 2020 (10,207 million dollars), they were placed well below the same period of 2019 (17,134 million).
