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The growth of the auto industry in Mexico will continue to surge as carmakers are bent on pouring more money into the country’s economy. So far, carmakers have invested or announced investments of around $20 billion into their operations in Mexico, as they try to take advantage of the country’s proximity to the United States, lower labor costs and free trade agreements.
In fact, vehicle exports from Mexico are expected to surge to 2.9 million this year -- over 70 percent of which are bound for the US, according to the Mexican Automobile Industry Association. In December 2014, exports jumped 21 percent year-over-year to 195,091 light vehicles and cars.
Trade group INA considers Mexico as the sixth-largest producer of auto parts in the world with an estimated $81.5 billion in sales last year. Eduardo Solis, the AMIA's president, remarked that the growth in production and in exports in Mexico has been spectacular, which reflects the confidence the industry has in the country.Read the entire article Mexican auto exports to surge further as carmakers spend more
Fiat Chrysler Automobiles is now back in the business of exporting vehicles from Brazil to Mexico as a weaker Brazilian currency hikes value of exported products and as the carmaker tries to offset slumping demand in the country. According to Cledorvino Belini, Fiat Chrysler’s chief executive officer for Latin America, the last time the carmaker made a substantial export to Mexico from Brazil was in 2010 with around 15,000 shipped.
He expects the Brazilian real to further weaken against the dollar next year from the current BRL2.68 per dollar to BRL2.80 per dollar – a situation that could further shift the dynamics of bilateral auto trade between the two countries.
In 2012, Brazil pressed Mexico to limit its vehicle exports since a strong real and an over-surging Brazilian economy has resulted to a large inflow of cheaper vehicles from its northern neighbor.Read the entire article Fiat Chrysler resumes vehicle export from Brazil to Mexico
Mexico is primed to overtake Canada and Japan as the largest auto exporters to the United States. In 1990, Mexico exported fewer than a quarter of a million vehicles to the US. But according to IHS Automotive, Mexico is expected to export 1.9 million vehicles into the US in 2015, effectively dethroning Canada as the biggest exporter of cars to the country.
The significant surge in auto exports from Mexico to the US has been boosted by lower tariffs under the North American Free Trade Agreement. For this year, Mexico is expected to overtake Japan as three Japanese carmakers -- Nissan Motor Co., Honda Motor Co. and Mazda Motor Corp. -- will open three sites in the Latin American country in four months.
Guido Vildozo, an IHS Automotive analyst, remarked that Mexico-built vehicles sold in the US will reach 1.69 million this year, topping the 1.51 million Japan-built vehicles. He added that by next year, Mexico-produced vehicles sold in the US will reach 1.9 million, topping Canada's 1.87 million.Read the entire article Mexico expected to surpass Canada and Japan as biggest exporters to US
As BMW continues to pursue its plans for the coming years, President-elect Donald Trump gave out a warning to car manufacturers to prevent them from exporting their cars to the US all the way from Mexico. Bottom-line: The President of the United States is bent on imposing a border tax of as much as 35% for non-locally manufactured vehicles.
It was earlier reported that German carmaker BMW plans on increasing its yearly production capacity by up to 150,000 units in the next two years. In relation to this, the company is currently expanding its production facilities by investing at least $2.2 billion for its new plant in San Luis Potosi in Mexico.
According to his own tweet, the new US President will be imposing a “big border tax” to General Motors and Toyota Motors unless they made plans to build their plants in the US. Trump has also been wary of what other German car manufacturers such as Volkswagen and BMW have been up to recently.Read the entire article BMW is not fazed by Trump’s threats, will continue construction of solar-powered plant in Mexico
The Volkswagen Atlas is yet to be sold in the US but it does look like the company is already preparing to expand its client base. As earlier reported, Volkswagen of America will be exporting the big SUV to Russia and will be using an exclusive 2.0 litre 4-cylinder diesel for its engine. This was revealed during the press interview at the Los Angeles Auto Show with Juergen Stackmann. When asked to comment whether the Atlas is going to be sold in Western Europe, Stackmann stated that the company has been eyeing Russia.
At the same event, Volkswagen’s head for Sales and Marketing also mentioned that they are considering other countries. But no other country has been specifically named afterwards. Instead, the Atlas will also be available in China beginning next year under the name Teramont. It is also believed that the Teramont will be slightly modified for its market. Considering this, Volkswagen has already confirmed that the particular model will be assembled locally in China and will not come from the US.
The Atlas was actually inspired by the CrossBlue concept three years before. Like this, it was created with Volkswagen’s MQB modular design platform. In fact, Audi A3 and Volkswagen Golf have been using the same platform as well. All these years, Volkswagen has picked out names that start with the letter T for its mid-size SUVs.Read the entire article VW to export Atlas to Russia with exclusive 2.0 litre diesel engine
A statement released by Hyundai Motor Co. last Wednesday denies a plan to build a plant in Mexico. In a Bloomberg report that came out on Tuesday, Pedro Albarran, managing director for Hyundai Motor de Mexico, had said that Hyundai may construct a factory in Mexico as soon as the automaker’s domestic auto sales increase in the country.
The top Mexican official, who heads sales and marketing but not manufacturing, added that Hyundai hopes for Mexico to become a “very important base” for its global production. He said that the brand will soon produce Hyundai units in Mexico but then it will have to wait for annual domestic sales to surpass 50,000 units before opening a factory.
Hyundai started sales in Mexico last year with 12,000 units. It forecasts that by 2018, its sales will exceed 50,000. Albarran said that an announcement about this plan may be made before then. In Hyundai’s statement disputing the claim, it clearly said that it “does not have any plan of building a factory in Mexico.”Read the entire article Hyundai releases statement to dispute plan to build plant in Mexico
Ford Motor Co. will be investing approximately $2.5 billion in Mexico, according to a Reuters report citing insiders. The sources said that Ford is slated to make the announcement on Friday in celebration of the 90th anniversary of its presence in Mexico. It was revealed that $1.3 billion will be used for the expansion of Ford’s plant in northern Chihuahua state where two new diesel engines will be manufactured.
The other $1.2 billion will be spent for a transmission plant in central Guanajuato state. Ford’s anniversary will be attended by President Enrique Pena Nieto. According to a Mexican official, the Chihuahua investment is expected to result to the creation of about 4,000 jobs.
A report from Mexican business newspaper El Economista divulged that Ford will be partnering with supplier Getrag on the transmission plant. Presently, Ford manufactures two large diesel engines in Mexico.Read the entire article Ford to invest $2.5 billion on 2 powertrain plants in Mexico
General Motors Co. is planning to produce the next-generation Chevrolet Cruze small car at its Coahuila site in Mexico. GM will make a $350-million investment in the project. The carmaker will still produce the Cruze at its Lordstown site in Ohio. So far, GM has identified only three site globally that will manufacture the next-generation Cruze, including in China.
A spokesman for the carmaker in the United States remarked that its Gunsan site in South Korea will continue to produce the current Cruze model to cater to demand in local and export markets. As part of a new wage agreement signed last summer, GM would build the next-generation Cruze in South Korea starting in 2017, according to a proposal seen by Reuters.
Carmakers are flocking to Mexico to take advantage of its low labor costs and access to the US market. For instance, Toyota is finalizing plans for its first passenger car assembly plant in the country while Volkswagen recently disclosed plans to invest $1 billion in its Puebla plant.Read the entire article General Motors will build next-gen Chevrolet Cruze in Mexico
A decision by German luxury carmaker BMW to have a new plant in Mexico was prompted by a desire to cut its dependence in China, according to chief executive Norbert Reithofer. He remarked that such increased exposure would serve as counterweight to China, noting that the annual growth rate both in sales and profit in the country has been dropping.
He added that the contribution margins that BMW achieved three or four years ago in China are no longer possible, as seen in 2014. For 2015, BMW expects China to just post a single-digit percentage increase in sales volume after logging a 17-percent gain in the country sales in 2014 to 456,732 vehicles, accounting for around a fifth of BMW’s global volume.
“I believe that a further normalization of the (Chinese) market means this development will certainly continue,” Reithofer remarked. He noted that he views this situation as the group’s “next big challenge.” Particularly felling the pressure to put up the numbers is Rolls-Royce. The ultra-luxury segment in which the brand belongs suffered from a 32-percent drop in China last year.Read the entire article BMW wants more Mexican output to cut reliance on China
Volkswagen plans a $1-billion investment for an expansion of its Puebla facility in Mexico to build a larger, redesigned Tiguan compact crossover. The spending will entail the installation of high-technology assembly lines, according to Andreas Hinrichs, chief executive of Volkswagen Mexico. The investment will also generate around 2,000 jobs and help auto parts suppliers retool their plants to support Tiguan output.
The site will commence building the Tiguan next year and VW will start selling the compact in 2017, Hinrichs said. VW is bound to redesign the Tiguan in 2017, with a long-wheelbase version bound to be rolled out in the United States.
According to VW, the production capacity for the long-wheelbase Tiguan will be 500 units per day, adding that it will shipped to North and South America and other global markets, excluding the European Union and China. VW’s Puebla site already builds the Golf compact underpinned by a version of the Modular Transverse Matrix or “MQB” platform that will also underpin the next Tiguan.Read the entire article Volkswagen eyes $1 billion expansion of Mexican site for Tiguan output
By 2020, Mexico will become the fourth largest producer of German luxury cars next to Germany, China and the United States, according to estimates compiled for Bloomberg by IHS Automotive consultant Guido Vildozo. That means that Mexico is expected to surpass Belgium, Spain and Brazil as top producers for German carmakers.
In fact, Mexico is not only becoming a production hotbed for luxury carmakers, but also for mass-market brands as well. Since 2012, German luxury carmakers BMW, Audi and Mercedes-Benz have decided to produce cars in the country.
Just this year, BMW Group has elected to build plant in Mexico. IHS Automotive Managing Director Michael Robinet remarked that Mexico has become the “crossroads of automotive trade for the western hemisphere," adding that the country has proven it can build “a vehicle of any stripe."Read the entire article Mexico seen to become 4th largest maker of German luxury cars
German carmakers Daimler and BMW are working together to establish a network of suppliers for new plants in Mexico, according to Klaus Zehender, divisional board member for procurement and supplier quality at Daimler's Mercedes-Benz unit. The collaboration is part of Mercedes’ bid to further widen its network of local suppliers at its sites in China, South Africa, the United States and Mexico.
BMW and Daimler earlier this year each disclosed plans to make $1 billion in investments to build a site in Mexico, aiming to benefit from the country's budding industrial base as well as tariff-free access to the US. Zehender said that a cooperation between Daimler and BMW in Mexico could result to savings of around 10 percent.
He noted that the two carmakers work together where they have common interests, like setting up technical competencies among suppliers in specific plants.Read the entire article Daimler and BMW collaborate to set up supplier network in Mexico
Toyota Motor Corp. usually runs its assembly sites in three shifts. But due to the need to produce more vehicles while not building a new plant, Toyota will test having a three-shift work schedule. Having the privilege to test the new system is the carmaker’s small plant in Baja California, Mexico that builds the Tacoma.
Once Toyota adopts the three-shift system on most of its sites, the carmaker would have more capability to build more vehicles even if it does not open a new plant. However, implementing such system company-wide could take years and could also complicate its rollout of its modular Toyota New Global Architecture platform.
Steve St. Angelo, chief executive of Toyota's Latin America and Caribbean operations, remarked that since the carmaker has not had much experience with three shifts, it wants to test it out and see if the system is “really good for Toyota or not."Read the entire article Toyota is testing three-shift schedule at its Mexican small site
Honda Motor Co. turned to Mexico to better meet growing demand for its vehicles as well as take advantage of the location, the lower wages and free trade pacts that country offers. But instead of helping the carmaker iron out its demand issue, the site has added a score of problems like the ones caused by a green labor force, language barriers and an unreliable rail system, according to dealers who have met with Honda officials.
These are the same issues that led a two-month delay of the rollout of its first product, the redesigned 2015 Fit subcompact. Additionally, the vehicle was found to have some quality issues and the delayed output has caused some shortages.
According to dealers, these have prompted Honda to push back the launch of the site’s second product, the new HR-V small-crossover. Dealers were initially bound to receive shipments of the HR-V by end of 2014, but now have to wait until next spring because they could get hold of their supplies.Read the entire article Mexico plant adds problems for Honda
Toyota Motor Corp. admitted that while it has assigned a team to study the possibility of building a plant in Mexico, the project is far from being green-lighted by higher-ups, according to Steve St. Angelo, head of the carmaker’s Latin American operations.
Toyota is only major carmaker not having a high-volume assembly plant in Mexico, which has been luring a number of top vehicle manufacturers thanks to lower labor costs and favorable trade pacts with the US and some Latin American countries.
In fact, Kia Motors Corp., BMW and a Daimler AG-Nissan Motor Co. partnership each has disclosed $1 billion-plus factories since June this year. President Akio Toyoda, however, has not been a fan of expansion after a massive growth lead to a loss in the fiscal year ending March 2009 as well as recalls of over 10 million vehicles for unintended acceleration.Read the entire article Toyota plant in Mexico still far from being approved
Serbia could agree with Russia to place a quota on locally made Fiat cars exported to its neighbor, according to Serbian Prime Minister Aleksandar Vucic. Since a free trade pact between the two countries exclude autos, Serbia exports to Russia carry high customs duties.
Serbia’s request to include autos in the free trade agreement to locally made cars more competitive in Russia has so far fallen on deaf ears. Vucic announced the good news during a recent visit by Russian President Vladimir Putin to Belgrade.
“We will have a certain possibility to export a quota of Fiat (cars)." Fiat currently operates manufacturing site in Kragujevac, Serbia, which commenced producing Fiat 500L in July 2012 for export to the European Union and United States.Read the entire article Serbia and Russia could agree on quota on Fiat exports
The president of Toyota Motor Corp., Akio Toyoda, wants the team tasked to search for a location for building a new compact car assembly site in Mexico to re-review the move by yearend, four executives privy with the matter told Reuters. Toyota had targeted to start production of Corolla in Mexico in a few years.
The executives remarked that while momentum had been building for a decision this summer on the expansion, but the carmaker’s top honcho wants planners to reconsider the move. "There’s absolutely no unused capacity lying around anywhere in North America?”
Toyoda was quoted by one of the executives as asking. The executive said Toyoda noted that adding capacity to trigger growth is what had placed Toyota into trouble before. Two Toyota executives told Reuters that it is high likely that a decision would not be made this year.Read the entire article Toyota president wants a review of possible expansion in Mexico
Toyota Motor Corp. has sent some people to scour Mexico for possible locations for a production site, sources privy with the matter told Bloomberg. Toyota executives recently held a meeting with federal officials to discuss possible construction of a new site in the country, said one of the sources. Toyota remains that only global carmaker not having a full assembly plant in Mexico.
Carmakers have been flocking to Mexico mainly because of its low labor costs, trade agreements and proximity to the United States. In fact, a number of major carmakers -- Kia Motors Corp., BMW AG and a Daimler AG-Nissan Motor Co. venture – are investing into three $1-billion sites in the country.
While Toyota is mulling a site in Mexico, the size and the timing of the investment has yet to be determined, one of the sources said. Tony Saldana, a spokeswoman for Toyota, told Bloomberg in an e-mail that Toyota is “always evaluating opportunities in North America in line with market demand,” adding that no decisions have been made.Read the entire article Toyota may set up a new manufacturing site in Mexico
While Kia is still officially reviewing which nameplates would be produced at its new facility in Monterrey, Mexico, the Forte could be the first to be built at the new site, Reuters says. Kia is planning to build a range of compact models at site, which will be able to produce 300,000 vehicles annually. The Monterrey site is set to commence production in the first half of 2016.
A North American output would benefit the Forte, which has failed to perform as expected in the compact car segment. Despite a redesign in 2013, the Forte only grew 5 percent in the first seven months of 2014 to 43,517 units in the US, good for a 3.2 percent share of the compact-car segment, according to the Automotive News Data Center.
On the other hand, Kia’s overall sales surged 7 percent in the period. John Fee, general manager of Koons Kia at Woodbridge in Virginia, told Automotive News that the South Korean carmaker has informed him that the new plant will build the Forte.Read the entire article New plant in Mexico may first built Kia Forte
While General Motors and the UAW have announced the shift of production of the Cadillac SRX from Ramos Arizpe, Mexico to Spring Hill, Tennessee. Still, Reuters has also learned from sources that the carmaker is also planning to move some production of the Chevrolet Equinox from other way around.
GM is planning to shift output of the Equinox from Spring Hill to Ramos Arizpe when the crossover is redesigned in 2017, partially offsetting any new jobs created by the shift of SRX work by mid-2016, the source told Reuters. Reuters estimates that addition of the SRX at Spring Hill would create around 200 jobs.
A GM spokesman remarked that it would be fair to say there would be a net increase in the number of workers at Spring Hill. UAW President Dennis Williams has said in a statement that the shift of SRX production was "a big victory" for the union, which declined to disclose the number of jobs to be added in Spring Hill.Read the entire article GM to shift some Equinox production to Ramon Arizpe site in Mexico
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