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Growth in the automotive industry in Mexico in 2022

editor2 • Jan 18, 2023

2022 has been a very successful year for the  automotive industry in Mexico . It was a year of economic recovery in this commercial sector as production and sales increased. After the pandemic, the  automotive industry  in this country declined significantly.

Export numbers had declined. Mexico is one of the most important exporters of vehicles and spare parts. The United States, Canada, and Brazil are the major countries that purchase these cars and products. The first semester was very satisfactory in exports, and it estimates that the numbers will increase next year.

2022 has been a very successful year for the  automotive industry in Mexico . It was a year of economic recovery in this commercial sector as production and sales increased. After the pandemic, the  automotive industry  in this country declined significantly.

Export numbers had declined. Mexico is one of the most important exporters of vehicles and spare parts. The United States, Canada, and Brazil are the major countries that purchase these cars and products. The first semester was very satisfactory in exports, and it estimates that the numbers will increase next year.

How was the growth in the automotive industry in Mexico in 2022?

In the labor area, the auto parts industry will close the year with 870,000 jobs created. It means a 4% increase in registrations compared to the year 2021. The auto parts sector in Mexico produced more than one hundred billion dollars in 2022. This figure is even higher than the income before the pandemic.

The first semester of the year produced more than 61,000 million dollars. If we compare it with the first half of 2019, it was more than 6% of income in the auto parts sector. The highest-demand products are harnesses, cables, bodywork accessories, and seats. Between January and August, exports increased by 2.43%.

The United States, Canada, and Brazil continue to be the main customers of the automotive sector in Mexico and have been for years. Mexico has established itself as the most meaningful supplier, especially to the United States, occupying 40% of the market in this country.

On the other hand, vehicle sales in the Mexican domestic market also increased. During August 2022, more than 91,000 vehicles were sold within the country. Comparing this figure with August of the previous year, we find an increase of 16.5%.

What expects for the coming years in the Mexican automotive industry?

The projections are favorable for the next five years since the automotive industry is strengthened and growing. For the next year, it expects that sales will reach more than 109,000 million dollars. Likewise, jobs will increase.

Mexico is currently in continuous search of professionals in the automotive area, vehicle electrification, systems, and automotive cybersecurity. Automotive companies are expanding their workforce due to high demand.

Only In July 2022, 241,178 vehicles were created. Then, in August 2022, 316,815 vehicle units were created, many more units than the previous month. After five years, it estimates that this number will double.

The sale of electric vehicles both within the country and abroad has also increased. These vehicles are a worldwide trend and are part of the new vehicle electrification technology. Mexico hopes this market becomes more popular in the coming years, in line with the projections.

The projection in the automotive industry is favorable for Mexico

The next few years will be very positive for Mexico’s economy and development. The automotive industry will generate many jobs and be synonymous with the country’s progress. Mexico will be crucial in the automotive market for great powers such as the United States, Canada, and China.

The year 2022 has been favorable, and the numbers have shown this. The production and profit percentages have risen even more than in the years before the pandemic.

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