The automotive aftermarket in Mexico totaled US$4.3 billion in 2016 and represented 8% of North American demand. The value of the Mexican peso relative to the US dollar declined during the 2011-2016 period, with the result that sales fell through 2016. Nevertheless, aftermarket sales continued to climb at a strong rate when measured in pesos. These and other trends are presented in North America Automotive Aftermarket, 8th Edition, a new study from The Freedonia Group, a Cleveland-based industry research firm.
Automotive aftermarket demand in Mexico is forecast to expand 6.1% per year through 2021 to US$5.8 billion, which is the fastest rate in the region and a turnaround from the declines of the 2011-2016 period. The increasing availability of newer model used car imports from the US under the 2009 NAFTA agreement is expected to have a mixed effect on the Mexican automotive aftermarket.
Aftermarket demand for automotive components in all of North America is forecast to expand 2.4% per year through 2021, accelerating from the slower growth seen between 2011 and 2016. Sales will be promoted by such factors as the growth in the size and average age of the region’s light vehicle park, gains in the average number of miles driven annually, and increasingly stringent regulation regarding emissions, fuel efficiency, hazardous materials, and occupant and pedestrian safety boosting the number and value of many automotive components.
North America Automotive Aftermarket, 8th Edition (published 11/2017, 240 pages) is available for $5100 from The Freedonia Group. For further details or to arrange an interview with the analyst, please contact Corinne Gangloff by phone 440.684.9600 or email [email protected].
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