Foreign Direct Investment (FDI) in the national automotive industry increased 65% annually during the first three quarters of 2022, according to information from the Mexican Association of the Automotive Industry (AMIA).

According to the organization, this sector is one of the ones that has grown the most in the country in recent years, due, among other things, to factors such as nearshoring, tax policy and trade agreements of which Mexico is a party.

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The National Institute of Statistics and Geography (Inegi) indicates that automotive FDI reached 7,419 million dollars in the first quarters of 2022, an amount that exceeds the previous highest figure, recorded in 2019, when 5,973 million dollars were reached. .

Automotive FDI obtained from January to September 2022 represents 22.5% of the total investment received nationally, while in the case of manufacturing exports, the automotive industry generated 35.3 percent.

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The United States remained the main destination for vehicles produced in Mexico.

It is expected that this year the improvement in the production and sale of light vehicles will continue, since the crisis caused by the shortage of components, mainly semiconductors, has been overcome.

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Original note