El Tricolor were just two minutes away from booking their place in the quarter-finals of the competition for the first time since 1986 until two late Dutch goals put an end to Mexican dreams.
"We had done really well," the 46-year-old is quoted as saying by Sky Sports News. "Then the team sits back and we start to give chances to a team that had not done anything.
"It's a World Cup where everything was against Mexico. Unfortunately, we didn't achieve what we wanted."
Herrera was appointed as manager of the Central Americans in 2013.