Mexican automotive production and exports fell for the fifth month running in November, figures from the national statistics agency (INEGI) showed on Monday, as ongoing shortages of semiconductors put the brakes on the industry.
Mexican automotive production plunged by 20.25% from November 2020 to 248,960 vehicles, while auto exports declined by 16.46% to 240,341 units, the INEGI data showed.has prompted automakers in Mexico and the rest of North America to implement rolling shutdowns, curtailing production and hitting workers hard.
Mexican auto parts industry group INA said the global semiconductor shortage could be further complicated in 2022 as fifth-generation technologies are adopted. Bustamante estimated the impact due to the chip shortage could begin normalizing as of the second quarter of 2022.