While corporate scandals shook the industry at the global level, the automotive industry in Mexico remains firm. Read more!

BMW’s SLP Plant

The industry in Mexico stands its ground. ANPACT president, Miguel Elizalde, said the heavy-vehicle segment registered records on assembly and exports numbers. Volkswagen’s new Virtus model has also performed better than expected, selling almost 1,000 units in its first month in the market. Furthermore, BMW Group Latinoamérica inaugurated the first electric corridor in the country. Moreover, the business sector and the government are confident that USMCA will eventually be ratified by the US and Canada.

On international roads, the automotive corporate world was under the spotlight. Volkswagen’s CEO and President in Germany were accused for market manipulation, while US authorities accused Nissan for hiding US$140 million and fined FCA for misleading investors about its sales.

In this week’s Interview of the Week, we talked with Horacio Chávez, Managing Director of Kia Motors Mexico, about the reasons behind the South Korean OEM’s success.

Ready to hit the road? Here’s your weekly roundup!

National Success

ANPACT President Miguel Elizalde said the heavy-vehicle segment registered record assembly and exports numbers despite lower demand in the national market.

Volkswagen Virtus performed better than expected. The new model has sold 905 units just a month after its arrival to the Mexican market.

USTR and Democrats in the US Chamber of Representatives advance negotiations to vote in favor of USMCA. In Mexico, the Ministry of Economy and the Business sector agreed USMCA’s ratification is not in question.

Government incentives for diesel and magna gasoline increased last week.

It Is All About Corporate Business

Cabify appoints Agustín Jiménez as new Director General of Cabify Mexico.

Volkswagen’s CEO and President in Germany were accused for market manipulation by German regulator BaFin over the long-lasting 2015 diesel issue.

US stock market authorities accused Nissan and former Nissan CEO in the country for hiding US$140 million for his retirement.

Michelin will close a factory in Germany due to lower demand for the tires produced there.

FCA will pay US$40 million in the US for misleading investors about its monthly sales figures.

Keeping Up With Innovation

With a US$700,000 investment, BMW Group Latinoamerica, has inaugurated the first electric corridor in the country. Running from Mexico City to San Luis Potosi, the group installed charging points for electric vehicles.

GM will incorporate Alexa into its models. GM announced that starting with 2018 models, users can have a personalized experience in their car.

At the Frankfurt AutoShow, automakers focused more on efficient vehicles that do not lose the emotion of driving.

Ferrari goes back to being convertible, after the presentation of the new Ferrari 812 GTS in Frankfurt.

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