THE MEXICAN AUTO INDUSTRY – LOOKING FORWARD

The automotive sector is one of Mexico’s most significant industries, employing over one million people throughout the country. Auto production in the country started with Buick in 1921 and Ford in 1925. The country is the sixth-largest passenger vehicle manufacturer in the world, producing 3.7 million cars in 2019, and the Mexican Automotive Industry Association estimates that Mexico will become the fifth-largest worldwide vehicle producer by 2025.

Almost 90 percent of vehicle production in Mexico is devoted to exports, with 79 percent going to the United States. Mexico is the fifth-largest producer of auto parts worldwide and is the largest export market for US auto parts. US parts manufacturers operating in Mexico represent 18 percent of all companies in this sector. FDI inflows to Mexico in 2019 were $33 billion, with the manufacturing sector absorbing 47 percent, or $16 billion, driven by the automotive industry, which represented 21 percent of the total.

Those figures were for 2019 – pre COVID-19 and the USMCA. How has COVID affected the industry and its supply chain, and what will be the effects of the new Rules of Origin of USMCA on the industry in North America going forward? Our speakers will give us some insight!

NO REGISTRATION FEE

For more information and registration please go to: https://www.usmcocma.org/webinar-mexico-auto-industry