Mexican auto sector growth outlook positive, says industry leader

Mexico's automotive industry has a positive growth outlook thanks to the recovery of global supply chains, the Mexican Automotive Industry Association (AMIA) said Tuesday.

January's positive figures for light vehicle production and exports, with increases of 2.4 percent and 9.9 percent year on year, respectively, are a good sign for the sector, AMIA Director General Odracir Barquera said.

"These numbers show that the recovery of supply chains is already being felt, particularly in the semiconductor area," he said during a virtual press conference.

Mexico exported 238,135 light vehicles in January, with 77.7 percent going to the United States, its main market, according to AMIA data.

The average installed capacity of production plants in Mexico stood at 77.3 percent in January, slightly below the 80.1 percent capacity registered for all of 2022, Barquera added.

Meanwhile, AMIA estimates that vehicle production will grow 6.6 percent in 2023, while exports will rise 7.2 percent.