Mexico is doing good in the automotive industry and is attracting investment, according to news from last week. Car sales in other countries are stable but brands are starting to notice the importance of electric vehicles for the market’s development.

National

Sergio Perez (Force India), currently in seventh place of the Formula One World Championship leaderboard with 44 points, admitted to EFE on Thursday at the Red Bull Ring that without the incident he suffered in Baku he would be even higher in the Championship ranking.

Foreign trade related to the automotive industry in Mexico led to an increase of 42% in ports’ activity, totaling movement of 667,881 vehicles between January and May 2017.

The new BMW plant in San Luis Potosi will serve as a magnet to attract investments from 34 suppliers. According to the Center for the Development of the Automotive Industry in Mexico (CeDiam), each of these suppliers will invest between US$100,000 and US$150,000 within the next two years.

International

New car sales are booming in Canada. According to the chief economist for the Canadian Automobile Dealers Association, stable prices have helped the country reach record domestic sales figures for the past four years.

Even with more models and variations, luxury automakers are finding less clients in the US. 

Suppliers that fail to adapt to electrification trends will suffer the consequences, even when some electric cars and trucks still remain at a concept stage.

Don’t forget to follow us on twitter at @mexautomotive and @mexautomotriz for the latest industry news.

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