The National Auto Parts Industry (INA), the fourth largest in the world, announced that the value of production in July decreased 3.5 percent, year-over-year, to $9.97 billion. It is the second consecutive annual decline.
So far this year, it is the first time that production is below $10.0 billion. In the last 19 months, production exceeded 14 times that level. It was in March 2023 when the auto parts industry broke that amount for the first time and in July of this year it exceeded $11.0 billion.
In the accumulated to July, the value of production was $73.3 billion, 5.1 percent or $3.5 billion more than the January-July period of last year. Of the total produced, the United States imported 87.0 percent and the second largest destination was Canada with 3.3 percent of the total.