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September 1, 2009

MEXICO: Parts recovery three years off

Mexican parts makers could take three years to retuen to pre-crisis production levels, the National Autoparts Industry, or INA, trade group has said.

Mexican parts makers could take three years to retuen to pre-crisis production levels, the National Autoparts Industry, or INA , trade group has said.

Exports and production in the country fell 40% between January and July.

INA economic research head Sophie Pons said Mexican parts production could fall 30% this year in a sector that generated US$58bn in 2008.

“We see a recovery to 2008 levels between 2011 and 2012,” Pons told Reuters in an interview. “We can’t be optimistic until we see a recovery in US purchasing power,” she added.

About 70% of cars produced in Mexico are shipped to the US market which is suffering one of its worst downturns since World War Two.

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