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Mexico's Superpower Status
With U.S. and Canadian vehicle sales heating up, Mexico’s automobile industry is shifting into overdrive. As the export-oriented sector produces record numbers of cars—more than 3 million units in 2014 and more than 4 million expected by 2016, according to PwC—many of the world’s major automakers are launching projects to meet demand.
“Mexico’s growth is tied closely to the large and stable demand environment of the United States and Canada,” says Bill Rinna, senior manager of North American forecasts, LMC Automotive, Troy, Michigan, USA. “This lends to the attractiveness of manufacturers establishing a base there.”
Last year BMW, Kia, Volkswagen’s Audi subsidiary and a Renault-Nissan Alliance/Daimler AG joint venture announced projects to construct new facilities, each with a budget of at least US$1 billion. The Renault-Nissan/Daimler US$1.4 billion project will produce 300,000 Infiniti and Mercedes-Benz cars annually by 2021.
Those four new projects follow auto plants recently constructed by Honda, Mazda and Nissan, which together had a US$4 billion price tag.
“Mexico has become a superpower in cars,” Eugenio Madero, CEO of Sanluis Rassini North America, a Mexican supplier of car parts, told Forbes.
Audi’s cars need a high-quality plant, says Francisco Javier Valadez …
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