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.

Read more…

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.


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.

Read more…

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.

Read more…

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.

 Read more…

Mexico drives North American auto investment, challenges China

October 21, 2013

Reuters, 10/20/2013

autosThe Mexican auto industry is about to go on a $10 billion factory building spree, illustrating the nation’s rising economic challenge to rivals from the United States to China.

Japanese and German auto manufacturers are spearheading the drive, say parts suppliers and researchers who see more auto factories built south of the border than in the United States between now and the end of the decade.

The United States will consume the vast majority of the new cars, but Mexico’s domestic market has rebounded from a long slump, and in a sign of Mexico’s growing global role, auto exports outside of North America will rise faster than those to the United States.

Read more…

Chrysler to expand engine plant in Mexico

October 9, 2013

Reuters, 10/8/2013

chryslerChrysler Group LLC will expand its plant in Mexico to build more of the “Tigershark” engines that will go into many of its passenger cars, sources with knowledge of the issue said on Tuesday.

Chrysler is to spend $164 million to expand the plant, and about 500 jobs will be added, the sources said.

On Thursday, Chrysler Chief Executive Sergio Marchionne and Mexican President Enrique Pena will be at the Saltillo Engine Plant in Ramos Arizpe in the Mexican state of Coahuila to formally announce the investment and new jobs, a Chrysler spokesman said.

Read more…

GM to invest $691 million in Mexican operations

June 27, 2013

iStock_000008876270MediumReuters, 6/26/2013

General Motors Co outlined plans on Wednesday for investing $691 million to expand its Mexican operations, including the previously unannounced expansion of its Toluca engine plant. The plans include a new factory in Silao in central Mexico to build 8-speed transmissions and an upgrade to an existing factory in San Luis Potosi that will make next-generation transmissions, GM Mexico President Ernesto Hernandez said.

With numerous free trade agreements, a cheap, well-educated labor force, and proximity to the lucrative U.S. auto market, combined with growing demand in South America, automakers have been lining up for two years to set up shop or expand in a country that some analysts believe could eventually overtake Brazil as Latin America’s biggest economy. “The automotive sector is today one of the pillars of the national economy, representing more than 20 percent of manufacturing GDP and continues to be, for many reasons, a fundamental industry in attracting investments to productive sectors of the economy,” Hernandez said at a press conference in Mexico City with Mexico President Enrique Pena Nieto.

Read more…

Demand for American-Made Products Growing in Mexico

May 8, 2013

flag waving 2ABC News, 5/6/2013

There is surprising cargo showing up on trains in Mexico. Straight from Dearborn, Mich., Ford vehicles are heading into Mexico City, where demand is high among Mexico’s growing middle class. It’s the quality, locals say, that they’re after. Vehicles like the Ford Escape travel for 14 days on a train from plants in Avon Lake, Ohio; Oakville, La.; Chicago; and Kansas City, Mo.

But cars aren’t the only American-made products in demand in Mexico. Exports to Mexico and all of Latin America, including Brazil and Argentina, are up 121 percent in the last decade. Even the beef burgers at Carl’s Jr. in Mexico are imported from the United States. The fast food chain, which has opened 20 new restaurants in Mexico this year

Read more…

Weekly News Summary: February 15

February 15, 2013

Coffee by Flikr user samrevel

The Mexico Institute’s “Weekly News Summary,” released every Friday afternoon, summarizes the week’s most prominent Mexico headlines published in the English-language press, as well as the most engaging opinion pieces by Mexican columnists.

What the English-language press had to say…

This week, the Peña Nieto administration unveiled its new strategy to combat organized crime, promising the creation of a 10,000-strong gendarmerie by year’s end, as well as $9.2 billion for social programs aimed at the country’s most violent towns and neighborhoods.  Mexico’s booming auto industry surpassed tourism and oil exports to become the nation’s main source of foreign exchange. The government’s efforts to transform the Mexican narrative of violence into one of prosperity and social development, however, continued to suffer setbacks following the rape of six Spanish tourists in Acapulco last week. Auto defensa vigilante groups in the state of Guerrero continued to hold over forty people accused of several crimes hostage. North of the border, talk of comprehensive immigration reform continued, with critics warning against conditioning reform efforts on the poorly defined notion of securing the border, which Homeland Security Secretary Janet Napolitano added, has “never been stronger.”

Read the rest of this entry »


Get every new post delivered to your Inbox.

Join 9,840 other followers