MEXICO CITY Mexicos auto parts industry has surpassed that of South Korea and now ranks as the fifth-largest in the world, according to the national suppliers association, Industria Nacional de Autopartes AC (Ina).
China tops the list of the largest auto parts manufacturing nations in the world, followed by Japan, the United States and Germany, the association said.
South Korea, Brazil, India, Italy and Thailand are the following biggest producers, after Mexico.
Auto parts production was valued at $75 million last year in the Latin American nation compared with $68 million in 2011, according to data from both Ina and government agency ProMéxico, which promotes international investment and business.
About $16 billion is expected to be invested in the automotive sector in Mexico over the next few years, driving local vehicle output to as much as 4 million units per year, according to the Mexican Ministry of Economy.
Vehicle output reached 2.88 million units for the whole of 2012 in Mexico, up 12.8 percent from 2011 levels.
A version of this article was first published by AMM sister publication Steel First.