Auto Tech Trends and Alternative Regimes

The Ministry of Economy approved Alternative Transition Regimes for 12 automotive companies, granting them more time to meet USMCA rules of origin. In this week's featured interviews do not miss the General Manager for Shared Rides of Uber Mexico and the Director General of Bechem Lubrication Technology Mexico.

IHS Markit released its report on the Top 10 auto tech trends to watch for in 2021. From increasing charging speeds to automotive 5G deployment.  On international roads, watch out for the next Tesla! Faraday Future is ready for NASDAQ.

Buckle your seatbelts. This is the Week in Automotive!

Mexican Ministry of Economy Approves Alternative Transition Regimes

Twelve automakers were granted alternative transition regimes, allowing them more time to meet the rules of origin for automotive goods established in USMCA. Recipients include Tesla, Volkswagen Mexico, Volvo Car USA, FCA Mexico, Hyundai Motor America, Mazda Motor Mexico, Toyota, Kia Motors Mexico, Kia Motors Manufacturing Georgia, Nissan, Ford, and Cooperative Manufacturing Plant Aguascalientes.

IHS Markit's Auto Tech 2021 Trends

Earlier this month, IHS Markit released its report on the Top 10 auto tech trends to watch for in 2021, which provides an overview of the key developments happening this year. Some of them include an increase in EV charging speed, 5G deployments, automated driving, CASE vehicles, over-the-air (OTA) software updates, automotive chip shortages, 3D printing and LIDAR sensors.

Featured Interviews

Uber Mexico: Innovative, Smart, Efficient. Gretta González, General Manager Shared Rides at Uber México, talks about the impact of the pandemic, Uber’s partnerships with Kavak and Urbvan, as well as its strategies regarding competition and the new tax reform.

Bechem: Lubrication Technology Adapting to the New Normal. Do EVs use lubricants at all? Claudia Mora details how Bechem is adapting to industry trends. MJS: COVID-19 Crisis an Opportunity for Aftermarket

In our interview with MJS Manufacturers, you can learn more about the role of the aftermarket amid the pandemic.

KPMG's Top Mexican Executives Survey

Seven of the Top 10 Executives in Mexico believe that Mexico will face an "out of control" pandemic during 2021. Meanwhile, 64 percent of those surveyed by KPMG forecast a "serious" economic recession.

BMW's 4Q20 Cash Flow Above Market Expectations

BMW’s better-than-expected results in 4Q20 were driven mainly by positive operating results in the automotive segment, continued focus on management of inventories, lower-than-expected consumption of warranty provisions as a result of lockdown measures and higher down payments received from BMW Group dealerships, most notably in China, which was in line with the positive market development, and in the UK following Brexit.

Toyota Becomes the No.1 Seller in 2020

According to Reuters, this week Toyota became the top car seller in the world. Toyota stated that global sales were down 10.5 compared to 2019, while the ratio of electrified vehicle sales increased to 23 percent in 2020.

Faraday Future Goes Public

Faraday Future is preparing its IPO on NASDAQ through its merger with Property Solutions Acquisition Corp. The transaction is expected to fully fund the production of class defining ultimate-performance luxury electric FF 91 after 12 months. This transaction also supports the future development of the company’s Internet, Autonomous Driving, Intelligence system.