The National Auto Parts Industry (INA), the fourth largest in the world, announced that the value of production in Mexico in February increased 13.1 percent, year over year, to $10.38 billion. 2024 sets a new historical record for a second month, according to a report from the business chamber.
It is the tenth time, although non-consecutive, that monthly production exceeds $10 billion, the first time was in March with $10.3 billion. The historical record was in August of last year with $10.7 billion.
The forecast for the value of production for all of 2024 is $125.7 billion, if fulfilled it would be 3.7 percent more than 2023.
In the first two months, the value totaled $20.6 billion, 11.1 percent or $2.0 billion more than the January-February period of last year.
Of the accumulated total, $18.0 billion went to the export market and the US market accounted for 87 percent with $15.6 billion.