MEXICO CITY (Reuters) – The value of Mexico’s auto parts production will likely hit a record of nearly $107 billion this year, up almost 13% from last year, the director of the national auto parts lobby INA announced on Tuesday.
Mexico’s massive car making and auto parts sector is a key driver for the country’s manufacturing industry, which is heavily integrated into U.S. and Canadian supply chains.
INA director Alberto Bustamente told reporters he expects the value of production to rise to about $109 billion next year and then surpass $110 billion in 2024.
(Reporting by Aida Pelaez-Fernandez and Sarah Morland; Editing by David Alire Garcia)
