Mexico resumes growth in automotive production

At the end of 2022, the automotive industry in Mexico increased its production of light vehicles by 9.2%, achieving 3 million 308,346 units, which represents a recovery after four years of continuous falls, derived from the change in the rules of origin by the T- MEC that promoted new investments to increase production.

According to the Inegi report, accumulated exports increased 5.9% compared to 2021, by sending 2 million 865,641 units.

The accumulated production figures are still 13% lower than the manufacturing reported at the pre-pandemic levels of 2019, when the sector assembled 3 million 811,068 light cars; Similarly, exports are 15.4% below 2019.

“Despite various events that impacted globally and nationally, such as the war between Russia and Ukraine, the shortage of semiconductors, the conflict resolution panels with the T-MEC, or inflation, the automotive industry made progress in its recovery compared to the previous year, but without exceeding pre-pandemic levels,” said the Mexican Association of the Automotive Industry (AMIA). By 2023, the AMIA estimates that production will continue to improve and may increase 6.6%. Regarding exports, an increase of 7.2% is expected.

lilia.gonzalez@eleconomista.mx