Mexico's Auto Parts Industry Hits the Gas Pedal
Mexico's auto parts industry experiences rapid growth due to nearshoring & higher demand from T-MEC's Regional Content Value. Proximity to the US & trade agreements boost exports. Recovery in the auto market fuels increased parts sales.
The auto parts industry in Mexico has been experiencing a significant acceleration in recent times, primarily due to two key factors: nearshoring and the rise in demand for parts triggered by the increase in the Regional Content Value, as set by the United States-Mexico-Canada Agreement (T-MEC).
According to data from the National Auto Parts Industry (INA), the first four months of the year saw a remarkable surge in auto parts production, totaling a staggering 38.801 billion dollars. This marked an impressive annual increase of 13 percent, signaling the robust growth of the sector.
