World Economy

Mexican Auto Parts at Record

Mexican Auto Parts at RecordMexican Auto Parts at Record

Mexican auto part factories are likely to post record output in 2015, growing, in value terms, by 5% from the $82b produced last year, a top industry leader said, Reuters reported. The car industry is a major export earner for Mexico, and accounts for a large part of its manufacturing base. The expected growth is due to three new plants from Japanese companies Nissan, Honda and Mazda, and the underlying strength of the US car market. “The major driver (for growth in 2015) is the dynamism of the US auto industry,” said Oscar Albin, head of the Mexico’s national auto parts industry association.