THE AUTOMOTIVE SECTOR IN MEXICO

Mexico is also one of the world's major automotive producers. The automotive sector is one of the country's primary sources of revenue and economic growth and currently accounts for approximately 4% of GDP.

In 2018, Mexico was:

• The 6th largest producer in the world.
• The 5th largest producer of spare parts in the world.
• The 4th largest exporter of light vehicles in the world, with 4M units exported (6% more than in 2017).
• Exports to the U.S. accounted for 4% of total industry exports.
• 15% of vehicles sold in the United States originated from a production site in Mexico.

To date, almost all global car manufacturers have a presence in Mexico. More recently, however, luxury brands, such as Audi, Mercedes Benz and BMW have started operating in the region. Specifically, the production of Audi's Q3 model in 2016 saw an acceleration of luxury brands establishing in Mexico.

In 2018, the turnover of the spare parts market reached USD 95bn, compared to USD 80.45bn in 2017. In 2020, the market exceeded 100 billion, partly due to the impact of newly established Nissan and BMW plants in the states of Aguascalientes and San Luis Potosí in 2018 and 2019.