High Expectations for Latin America’s Automotive Industry

Mexico’s automotive industry keeps moving forward as key players in the sector keep betting on the country’s capacity and potential. Stellantis Mexico, for example, announced an ambitious strategy and will launch 16 new models in 2023. Meanwhile, Mexico’s Ambassador to the US Esteban Moctezuma Barragán and Arizona State University (ASU) signed an agreement to increase semiconductor production in North America. 

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Bridgestone Bets on Latin America

The tire manufacturer continues to bet on Latin America with a US$250 million investment to expand its plant in Heredia, Costa Rica, which will create over 160 new jobs and increase its production capacity by 36 percent by 2023. Mexico is a critical hub for the Japanese company, which has invested over US$100 million in the company’s plant in Cuernavaca, Morelos, since 2015. 

 “From 2022 to 2050, Bridgestone will continue working as a sustainable solutions provider. The company’s vision encompasses energy, ecology, efficiency, extension, economy, emotion, ease and empowerment to bring a different perspective to each part of the business,” said Miguel Pacheco, Country Manager Latin America North, Bridgestone. 

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ASU and Mexico Aim to Increase Semiconductor Production in North America

Mexico’s Ambassador to the US signed a Memorandum of Understanding (MOU) with Arizona State University (ASU) to increase the production of semiconductors in North America and reduce the region’s dependence on Asian companies. The agreement aims to boost the alliance between ASU and the Mexican government and universities.

“We need to continue working in this effort of bringing production back to North America. It is not just a matter of trade but of technology, education, competitiveness, innovation, workforce development, regional security and geopolitics,” said Moctezuma. 

Find out all the details here. 

Stellantis Mexico to Launch 16 Models in 2023

The automotive group aims to increase its sales by 75 percent in 4Q22 with an aggressive strategy that seeks to cover the multi-purpose segment with the release of 16 new models for the Mexican market. The company also forecasts a double-digit growth in sales in 2023. “We are ready for a time of change,” said Carlos Quesada, Commercial Vice President, Stellantis. 

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Thefts from Freight Carriers Increase in 2022

Road safety keeps being the weak point of Mexico’s transportation infrastructure. In the first 10 months of 2022, the National Chamber of Freight Transport (CANACAR) reported a total of 10,805 thefts from logistics carriers, an increase of 7.3 percent when compared to the same period in 2021. 

“Between January 2018 and October of this year, 69,476 robberies were registered to carriers. The State of Mexico (reporting 24,375 robberies), Puebla (9,127), Guanajuato (5,999) and Michoacan (5,988) concentrated 65.6 percent of the total of these crimes,” explained CANACAR during the Federalization of the Crime of Auto Transport Theft meeting. 

Check the note here. 

BYD to Launch Retail Sales in Mexico During 2023

The Chinese company announced that it expects to sell 10,000 units next year and between 20,000 and 30,000 in 2024, according to Zhou Zou, Director General, BYD Mexico. The automaker will push its sales in the Mexican market through 15 retail stores and 30 dealers by 2024, and 50 points of sales during 2025. "I have faith that BYD will become the favorite of local customers," highlighted Zhou.