- Despite the challenges facing the industry, growth is expected.
- The key: export of auto parts and finished products to the US.
Querétaro, September 10, 2021. Jose Ramon Ayala, Director of the firm's offices Santamarina + Steta In Querétaro and the Bajío region, the country anticipated recovery and growth of the automotive sector in Mexico for the second half of this year, “Despite the great challenges that the sector has faced and continues to face today, having already been one of the sectors hardest hit by the pandemic”.
The specialist reported that some segments of the industry began to have problems a few years ago due to factors such as the growth of private driver platforms, which was accentuated by the pandemic and factors linked to it, such as staying at home and remote work: “The new generations think more about owning a vehicle to have it parked, which generates additional costs such as insurance, permits, ownership, etc.”, said.
José Ramón Ayala added that the sector's difficult position was also aggravated by the impact that the pandemic has had on consumers' pockets, as well as by the shortage of automotive chips, which has led to delays in deliveries and even cancellations of orders.
However, the specialist explained that the recovery of the automotive sector will be due to the clear recovery of the United States economy, which requires supplies of auto parts from Mexico. “It is clear that the growth of the US industry will continue in the coming months, which is opening the opportunity for the national auto parts sector to be the leader of the recovery, sending 87 to 90% of its manufacturing there,” concluded.
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