Betting on TradeBy Alejandro Enríquez | Fri, 02/07/2020 - 11:47
Mexico’s trade environment looks promising after USMCA. However, US and Canadian companies demand more legal certainty for coming investments. Meanwhile, The Ministry of Economy is negotiating more ambitious trade deals with Argentina and Brazil, including sensible areas such as automotive.
Toyota inaugurated its plant in Guanajuato where it announced additional US$947 million in upcoming investments to the state. Meanwhile, China’s SAIC Motor will land in the country shortly after deciding where to locate its operations.
Ready for more? Here’s the most relevant information on the industry!
- The first self-driving delivery van has gained permission to be tested in Texas
- Insured car robberies decreased 11 percent in 2019, according to the Mexican Association of Insurance Institutions (AMIS).
- The automotive industry is still moving downhill after 32 months with an annual sales drop of 6 percent.
- Toyota Motors México is committed to an additional US$947 million investment in the upcoming years in Guanajuato.
- The heavy-vehicle sector asks for a prorogue on NOM-044 which will force all new heavy vehicles to use ultra-low sulfur diesel.
- Highway quotas in Mexico to increase 3 percent starting February 5.
- SAIC Motor will land in Mexico, but the company is still looking for the optimal location.
- US and Canadian companies insist that apart from USMCA, legal certainty is required to secure investments.
- Mexico is negotiating ambitious trade deals with Brazil and Argentina, while allowing Ecuador to enter the Pacific Alliance formed by Colombia, Peru and Chile.
Coronavirus Goes International
- FCA analyzes stopping operations in a European plant due to a supply shortage in China linked to the Coronavirus outbreak.
- Hyundai will suspend production in South Korea due to a supply shortage from China.
- South Korea asks China for help in resuming production at South Korean auto parts suppliers’ factories in mainland China.