As new vehicles and new investments arrive, AMIA forecasts a surplus in the automotive sector. Read more!
The industry in Mexico is pressing the accelerator. AMIA forecasts a surplus record for the automotive sector in 2019. Investments keep coming as Italian firms look at Queretaro to stablish new projects. Saying hello to newcomers, GM presented the Chevrolet Onix that will be produced in San Luis Potosi, while Volkswagen announced its T-Cruss model that will arrive to Mexico to compete in the SUV segment.
International roads were quite busy following investment and production cut announcements. Texas has now become an investment destination for Toyota, who will refurbish its plant, while Navistar will build a new one. On the other hand, BMW plans to cut 6,000 jobs by 2022 and the UAW strike has stopped GM production in the US.
In this week’s Interview of the Week, we talked with Fernando Enciso, Director Mexico of Grupo Surman, about dealership strategies in Mexico’s contracting vehicle market.
Ready to hit the road? Here’s your weekly news roundup!
Pressing the Accelerator
2019 will be a good year for the industry after all. AMIA forecasts a surplus record with a trade balance that will reach US$90 billion by the end of the year, according to the organization.
GM presents Chevrolet Onix, its new sedan to be produced in San Luis Potosi that aims to rule the Mexican market.
The Bajio region concentrated 7 percent of hybrid car sales in 1H19. Aguascalientes, Guanajuato, Queretaro and San Luis Potosi sold 181 hybrid and electric vehicles in that period.
Toyota invests US$391 million in its Texas truck assembly plant.
Navistar will build a new truck plant in Texas aiming to boost margins.
BMW’s CFO wants to cut 5,600-6,000 jobs by 2022 at the carmaker’s headquarters in Munich.
Innovation Does Not Stop
Electric-vehicle startup Rivian is fueled by a big Amazon order of 100,000 electric vans.
GM CEO Mary Barra says the company will soon sell a million electric vehicles a year.
Tesla’s Model 3 earned the top safety rating from the Insurance Institute for Highway Safety. This is the first Tesla model to pass the test.
New competitors rise as India’s Tata Motors launches a new EV in 2020.