The Mexican automotive industry has grown threefold in the last 25 years
Mexico has maintained the biggest automotive industry in Latin America for quite some time now, and the industry keeps on growing, as in 2018 the country surpassed South Korea and became the 6th biggest auto parts manufacturer in the world.
The growth of the automotive industry has been such that it has even surpassed Mexico’s food industry, as now it provides 22.4% of the manufacturing industry GDP. 97% of the industry’s production is made in Coahuila, Nuevo Leon, Guanajuato, San Luis Potosí, Sonora, Puebla, EdoMex, Aguascalientes, Baja California y Morelos.
Exports grew by 6% in 2018, surpassing United Kingdom and Canada, making Mexico the 4th biggest auto parts exporter in the world, with the US being the biggest importer. Furthermore, the incentive that USMCA brings for a tariff free export is a great opportunity to produce using locally sourced materials.
“Mexico shows great potential in growing its automotive production. Furthermore, the fact that we have such a big interaction with the North American market implies the potential is even bigger,” said Ansley Consultores Internationales strategy director, Moisés Zavaleta.
Altogether, with the threefold growth of the automotive industry and signs of it not stopping anytime soon, settling in Mexico is becoming an important aspect for a prosperous manufacturer. Therefore, here at VYNMSA, we would like to assist you setting your industrial warehouse in Mexico, as we manage industrial real estate in Nuevo León, Coahuila, San Luis Potosí, and Guanajuato, all part of the top producing states.
Contact us and settle where it’s best for your company in Mexico with VYNMSA.