On April 26, it was announced that the president of the National Auto Parts Industry, Francisco Gonzales, commented that in the upcoming years Mexico could position itself as the third largest producer of auto parts, surpassing Japan in the ranking.
These estimates are supported by the effect of nearshoring, that has attracted companies seeking to invest and produce in North America, in addition to the Free Trade Agreement that Mexico maintains with the United States and Canada, both helping turn Mexico into the fourth largest producer of auto parts, surpassing Germany.
In addition, Mexico is the main supplier of spare parts and components for the U.S. market. The value of auto parts production in Mexico has reached a record figure of USD 121 billion.
“Growth continues to be very strong. We are one leap ahead; we have just beaten Germany for the fourth position. Japan is complicated, but we are growing quite a lot and Japan is getting smaller, so we are in a fighting level to be third place in the following years,” said Gonzalez.