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Aug

20

Mexico Consolidates Its Position as the Leading Auto Parts Supplier to the United States

The Mexican auto parts industry has taken a significant leap in its role as the leading supplier of auto parts to the United States, with a 3.44 percentage point increase in its market share in US imports in just one year. During the first five months of 2023, Mexico managed to capture 42.72% of the US market in automotive parts and components, compared to 39.28% in the same period in 2022.

This advancement marks the largest surge in the last 15 years and positions Mexico as a leader in the region's auto parts supply. The Mexican auto parts industry is experiencing sustained growth, reflected in the expansion of its market share and employment generation.

 
The adoption of innovative technologies and adaptation to new market demands, such as the transition to electromobility and nearshoring, have contributed to strengthening Mexico's role as a key player in the auto parts industry. Furthermore, the modification of rules of origin through the USMCA has boosted the increase of regional content in production, leading Mexico to solidify its position as the main auto parts supplier to the United States. With a focus on sustainable production and technological innovation, Mexico is poised to continue growing and leading in the regional auto parts industry.
 
Retrieved from:
Rodríguez, E. (2023). México devora el mercado de autopartes de EU. El Economista. https://www.eleconomista.com.mx/empresas/Mexico-devora-el-mercado-de-autopartes-de-EU-20230808-0124.html