Automotive Aftermarket in Mexico to Grow Over 6% Annually

CLEVELAND, Nov. 27, 2017 /PRNewswire/ -- 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.

For more information on the study, see the following link: https://www.freedoniagroup.com/industry-study/north-america-automotive-aftermarket-by-product-performer-8th-edition-3577.htm

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.

Related studies include:

• #3548 Automotive Aftermarket for Batteries & Ignition System Components in North America
• #3547 Automotive Aftermarket for Electronic Components in North America
• #3534 Automotive Aftermarket for Filters in North America
• #3512 Automotive Aftermarket for Brake Parts in North America
• #3505 Automotive Aftermarket for Powertrain Components in North America

About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Automotive & Transport studies can be purchased at www.freedoniagroup.com, www.marketresearch.com, and www.profound.com.

Press Contact:
Corinne Gangloff
+1 440.684.9600
cgangloff@freedoniagroup.com

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SOURCE The Freedonia Group