Twenty years after NAFTA, a mini Detroit rises in Mexico

September 29, 2014

09/25/14 Bridge

iStock_000008876270Medium“The auto industry in Mexico is just booming, it’s taking off right now and it´s probably the industry in which Mexico is the most competitive,” said Christopher Wilson, a senior associate with the Mexico Center at the Woodrow Wilson International Center for Scholars in Washington, D.C. Wilson and others say Mexico’s ascension is a combination of low labor costs, a shift to an export-based economy in which 80 percent of vehicles produced in Mexico go to the powerful U.S. market, a well-defined NAFTA corridor, and modern factories that are more efficient and safe. An influx of banks has provided workers with greater access to credit.

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Mexico’s Auto Industry Overtakes Brazil’s

August 8, 2014

08/08/14 The Wall Street Journal

cars in trafficBolstered by a recovering North American market, the output of Mexico’s booming automotive industry is cementing a slight lead over Brazil, its stumbling regional rival.

Mexico’s export-driven production of cars and light trucks jumped 7.5% in the first seven months of 2014 to nearly 1.86 million vehicles, compared to the same period a year earlier, according to data released by Mexico´s automotive-producers chamber.

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Kia in talks to open $1.5 bln Mexico plant

July 23, 2014

07/22/14 Reuters

Road - highway interchangeSouth Korean automaker Kia Motors Corp is in talks with Mexico to open a new, $1.5 billion auto plant, officials of the northern state of Nuevo Leon said on Tuesday.

Rolando Zubiran, secretary of economic development in Nuevo Leon, said negotiations on the plant were under way and involved Nuevo Leon, the Mexican federal government and Kia, an affiliate of Hyundai Motor Co.

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BMW to Join Mexico’s Auto Boom with Assembly Plant

July 2, 2014

Export Or Import Directions07/01/14, The Wall Street Journal

BMW is preparing to join an auto-industry production boom in Mexico, where it will disclose this week plans to spend $1 billion to build its first assembly plant in the country.

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Mexican Auto Production Hit Record in 2013

January 9, 2014

cars opllutingThe Wall Street Journal, 08/01/2014

Mexico posted a fourth consecutive year of record auto production and exports in 2013 as global auto makers continued to invest in new plants and capacity due to the revival of the U.S. market, an industry group said Wednesday.

Production of cars and light trucks rose 1.7% from 2012 to 2.93 million units, the Mexican Auto Industry Association, or AMIA said. Exports rose 2.9% to 2.42 million autos, of which about 70% were sent to the U.S.

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Mexico becoming Nissan’s export hub for Americas: CEO

November 13, 2013

Reuters, 11/12/2013

autosNissan Motor Co Ltd  will build 1 million cars in Mexico by 2016, cementing the country’s position as the export hub for the Japanese automaker in the Americas, Chief Executive Carlos Ghosn told Reuters as he inaugurated a $2 billion plant.

Most of the cars from the new plant in Aguascalientes in central Mexico will be sent by rail to destinations throughout North and South America. A staff of 3,000 in the light, airy plant filled with rows of shiny yellow robots will produce one car every 38 seconds, in partnership with Nissan’s other Aguascalientes plant.

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Mexico: autos in fast lane but economy in low gear

November 7, 2013

cars opllutingThe Financial Times, 11/06/2013

Mexico is slowing – so says the central bank on Wednesday, cutting growth forecast to 0.9 – 1.4 per cent, down from its previous estimate of 2-3 per cent – Banxico’s second consecutive quarterly cut.

But Mexican car production and exports are revving up, hitting record levels in October. Not bad for an economy where manufacturing confidence is still in the doldrums.

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