Auto Sector Performance and New InvestmentsBy Alejandro Enríquez | Thu, 12/10/2020 - 17:00
As the pandemic shook major economic sectors, automotive remains confident in its prospects toward the future. In this week's featured interviews, Quaker State, Kayser Automotive, and NSK talk about their experience and the opportunities they see ahead.
Do not miss our piece on Mexico’s auto sector's performance in November, where figures show sustained recovery for production and exports. Meanwhile, annual domestic sales expectations remain below 1 million units.
There are also positive news for Mexico's central and Bajio regions as new investments were announced this week. Dutch technology integrator AWL inaugurated its recently expanded plant in Queretaro while Mexican unicorn Kavak announced its coming investments in Puebla.
Ready to hit the road? This is the Week in Automotive!
AWL Invests US$12.54 million in Queretaro
AWL Group expanded its operations at its facilities in El Marqués, Querétaro, in the Bajio area after an MX$250 million investment (US$12.54 million). Dutch Ambassador to Mexico Wilfred Mohrs, General Manager of AWL México Lucas Díaz, and local government representatives took part in the opening ceremony.
Kavak to Expand Its Operations to Puebla
Mexican unicorn Kavak started operations in Puebla with an MX$215 million (US$10.81 million) investment. COO Federico Ranero commented that Puebla is the fourth most important market for used vehicle sales in Mexico with a value of US$2 billion a year.
Mexico Auto Sector Performance in November
Automotive production in Mexico experienced a 3.96 percent increase compared to November 2019. This adds up to the positive year-on-year 11.81 percent variation seen in October. Sales, on the other hand, remain in red following a two-digit monthly decrease since the pandemic hit Mexico in March.
Automotive Industry and Outsourcing
Outsourcing has been of particular interest to the industry, particularly due to the possibility of its elimination. José Zozaya, Executive President of AMIA, shared his concerns regarding potential changes to outsourcing regulation and their effect on the automotive industry.
NSK: Supporting Local Suppliers. Director General of NSK Mexico details its plans for three upcoming plants in Guanajuato.
Quaker State Secures Market Share Amid the Pandemic. Mauricio Esponda, CEO of Quaker State Mexico, explains how the company has taken advantage of the pandemic and its partnership with Shell.
Kayser Automotive Adapting to The Future. Kayser Automotive Director Mexico Ignacio Sanz explains the opportunities the company has as some of its closest competitors were impacted by the pandemic.
BMW Group Announces Partnership With AWS
AWS's automotive footprint continues to grow. Earlier this week, AWS and BMW Group announced a strategic collaboration to place data at the center of all decision-making processes.
Toyota's Bet on a New Fuel Cell Model
Toyota Motor Corp unveiled Mirai, its new hydrogen fuel cell car, moving on with its mission to promote zero-emissions technology.