Mexico has benefited from the new rules that strengthen regional content and during the first quarter, 662 million dollars have been captured in investments for the sector, the INA revealed.

In addition to attracting new foreign capital for 662 million dollars during the first quarter of 2021, the Mexican auto parts industry consolidated itself as the main supplier of vehicle parts and components in the United States, achieving growth of 0.29 percentage points in the participation of market compared to the volume of the previous year, as a reflection of the opportunities offered by the T-MEC by substituting imports and the trade war with China, said Alberto Bustamante, director of Foreign Trade of the National Auto Parts Industry (INA).

The challenge is for Mexico to exceed 102,000 million dollars in terms of the production value of auto parts and that in 2023 it can position itself as the fourth world producer of parts and components, stripping Germany of said site, under compliance with the new rules origin of the Mexico-United States-Canada Treaty (T-MEC), which seeks to strengthen the North American bloc by substituting imports of auto parts.

For the next two years, it is estimated that foreign direct investment in the auto parts sector in Mexico will amount to between 5,000 and 8,000 million dollars, which would translate into almost doubling the highest amount reported by the industry in recent years, he confided. he.

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In a virtual press conference, the INA director specified that Mexico reached a 38.11% share as a supplier of auto parts in the US market in the first quarter of 2021, when at the end of 2020 it had 37.82%; while Canada advanced to 10.38% from 10.18% obtained last year; China has a 10.09% stake from 9.98%.

"As of July of last year (2020) and in the next seven years we will have an increase in the auto parts sector," said Bustamante, because - he argued - the vehicle parts and components industry is facing four unprecedented opportunities: increased regional content in the T-MEC; the new trade agreements negotiated by the United States; the trade war with China and the challenge of recovering its stock.

"These are the reasons why we are going to spend $ 102 billion annually in auto parts production, which will be 100% in Mexico, displacing Germany, to stay with fourth place worldwide."

The INA executive said that with each passing day, the United States becomes a market more dependent on the Mexican auto parts sector, since -it is calculated- that for each vehicle manufactured in that country there is a content of $ 5,500. in Mexican auto parts.

Chihuahua has two important industrial zones, one in its capital and the other is in Ciudad Juárez, if you want to know more about the offer they have, just go to Solili.

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