INA highlights investments of 815 companies from 35 countries
MEXICO - The National Auto Parts Industry (INA) pointed out at a press conference that the automotive components sector receives investments from a large number of countries as a result of the numerous trade agreements that the country has. It also pointed out that this industry is subject to numerous international regulations and requires rigorous certifications in order to enter the Mexican market.
The INA informed that between 2006 and November 2023, Mexico has received Foreign Direct Investment from a total of 815 companies from 35 countries, dedicated to the manufacture of vehicle parts. The participation of the United States stands out, with around 29% of the total, equivalent to 234 companies, Japan with 159 companies, South Korea with 96 companies and Germany with 90. These countries are the most relevant in terms of Foreign Direct Investment (FDI) for the Mexican auto parts industry.
The executive also pointed out that Mexico's automotive components sector has consolidated a positive trade balance, registering an amount of US$34.4 billion during the period from January to November 2023.
Mr. Cortés Galicia explained that in recent years there has been an increase in auto parts exports. In 2020, approximately 83% of domestic production was sold abroad, while in November 2023 this figure increased to 87%, mainly highlighting exports to the United States. This phenomenon contributes significantly to strengthening the industry's export profile.
The association also highlighted that the effects of the pandemic on the sector have been fully overcome, evidenced by sustained growth in domestic auto parts production and the achievement of monthly historical records. Therefore, the sector is expected to reach a production value of US$125.5 billion by the end of this year.