The president of the National Auto Parts Industry, Francisco González Díaz, mentioned that the automotive and auto parts industries are facing unprecedented opportunities due to the trend of company relocation and other factors.
Querétaro, Qro. During 2023, exports from the manufacture of transportation equipment reached a value of $8,788.3 million, representing an annual growth of 18.3%, according to data from the National Institute of Statistics and Geography (Inegi).
The subsector accounted for 48.2% of the state’s total exports in 2023, specified the Secretary of Sustainable Development (Sedesu), Marco Antonio del Prete Tercero, during the inauguration of the International Automotive Industry Supply Summit Mexico, a business meeting held in Querétaro on May 7 and 8.
“Exports also add significant value to our economy. Of the $18,216 million that were exported last year, 48% was related to the automotive industry, representing an almost 19% growth compared to the previous year,” he explained.
He also highlighted the industry’s role in Foreign Direct Investment (FDI): during 2023, auto parts FDI represented 55% of the investment in the manufacture of transportation equipment.
Regarding the contribution of the auto parts industry to the local economy, he elaborated that the state hosts nearly a tenth of the 900,000 jobs that this industry generates nationwide.
He also emphasized Querétaro’s position in auto parts production: among states without assembly plants, it ranks first nationally; and among those with assembly plants, it ranks third.
Overall, the automotive industry generated a value of 96,355 million pesos to the state’s Gross Domestic Product (GDP) in 2022, representing almost 17% of the total GDP; the sector’s economy grew by 8.5% annually.
In his speech, the president of the National Auto Parts Industry (INA), Francisco González Díaz, mentioned that the automotive and auto parts industries are facing unprecedented opportunities due to the trend of company relocation and other factors.
“Mexico is the fourth largest producer of auto parts, having surpassed Germany, and now the goal is to surpass Japan to take the third spot.”
“Mexico is poised to continue being a beacon for investment attraction, a cradle of development and innovation, and a global powerhouse in the automotive industry,” he added.
The industrialist elaborated that the second edition of the Industry Supply Summit Mexico arrives at a crucial moment for the country, amidst the search for resilient global supply chains, the push for nearshoring, the promotion of electromobility, and the productive integration of North America.
The business meeting brings together 3,012 companies, including suppliers and buyers, as well as 1,000 purchase requirements that represent potential business over the next five years, amounting to $7,560 million, stated René Mendoza Acosta, president of the Chain of Suppliers of the Industry in Mexico (Capim).
During the two days, the Querétaro Congress Center will host networking sessions, exhibitions, conferences, and B2B business meetings.
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