Record Auto Parts Production Expected in 2024

The National Auto Parts Industry (INA) anticipates that by the end of this year, auto parts production will reach $126.149 billion, representing a 4.12% increase compared to $121.158 billion last year.

Armando Cortés, General Director of INA, reported that in the first quarter of 2024, compared to the same period in 2023, national auto parts production increased by 8 percent. He added that auto parts production in the first quarter of the year reached $31.194 billion.

Cortés highlighted that in March 2024, Mexico surpassed $10.5 billion in monthly production.

“We have very positive information for the first quarter of the year. Compared to January-March 2023, there was an 8% increase in national auto parts production,” he said.

The auto parts expert noted that states that have traditionally not specialized in the automotive industry continue to lead in relative growth in auto parts production.

In this regard, he highlighted Yucatán, which grew by around 52% in the first quarter of the year, followed by Zacatecas with 19.7%, San Luis Potosí with 15.8%, Durango with 14.1%, and Guanajuato with 13.5 percent.

He added that electrical parts represented 19.42% of total production and highlighted their diversity, including transmissions, clutches, as well as automotive fabrics, carpets, and seats, as examples of the sector's dynamism.

“It reflects the constant evolution and adaptation of the auto parts industry to meet global market demands,” he emphasized.

Job Creation

Regarding employment, INA announced an average of 869,000 people employed monthly between 2019 and 2024, positioning the industry as one of the main drivers of the national economy.

Finally, the director invited participation in the upcoming INA PAACE Automechanika México, which will take place from July 10 to 12 at Centro Citibanamex.

“This year will also see the inauguration of the 1st edition of the International Aftermarket Summit (IAS), focused on addressing the challenges and opportunities in the automotive parts market, which will be held on July 9 and 10 in collaboration with Messe Frankfurt and MEMA,” he concluded.