Mexico is the largest exporter of automobiles to the United States

Mexico exported automobiles worth US$17 billion to the United States from January to June 2022, reaching the top position in this indicator for the first time, according to the U.S. Department of Commerce.

It displaced Japan from the top position, which has led auto exports to the U.S. market since 2018, overtaking Canada.

Mexico’s success comes two years after the entry into force of the agreement between Mexico, the United States, and Canada (T-MEC), which creates favorable conditions for the relocation of key production processes, while companies generally seek to reduce supply chain risks, whether due to the effects of Covid-19, Russia’s military operation in Ukraine, or logistical problems, among other factors.

Alejandro Hernández, president of the Mexican Institute of Finance Executives (IMEF), pointed out that in the Mexican automotive and aerospace industries, suppliers that have problems with the late delivery of their respective products are being replaced by Mexico-based companies, with the Bajío region and Saltillo, Coahuila, standing out.

After Mexico, the largest auto exporters to the United States in the first half of 2022 were Japan (US$15.5 billion), Canada (US$13.6 billion), South Korea (US$9.6 billion), and Germany (US$8.6 billion).

The U.S. imported automobiles with a customs value of US$77.4 billion from around the world in the first half of this year, an increase of four percent over the previous year, making it the world’s largest importer of these products.

With information from Latina Press