According to Reuters, the Mexican Automobile Industry Association (AMIA) said that the global semiconductor shortage that has hit Mexico's auto industry should return to normal this year, and chip supply should reach pre-pandemic levels in the second half of 2022.

"We expect semiconductor shortages to stabilize throughout the year and may return to pre-pandemic levels as we approach the second half of the year," AMIA director Fausto Cuevas told a news conference.

Mexico's auto production and exports fell in January from a year earlier, the seventh straight month of declines, hit by the COVID-19 pandemic and semiconductor shortages, official data showed last week.

AMIA had previously estimated that output would not return to pre-pandemic levels until late 2023 or 2024.