September 29, 2014
“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.
August 8, 2014
08/08/14 The Wall Street Journal
Bolstered 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.
July 23, 2014
South 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.
July 2, 2014
07/01/14, 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.
January 9, 2014
The 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.
November 13, 2013
Nissan 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.
November 7, 2013
The 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.