Image credits: MBP
Weekly Roundups

Production Up, Exports Down, Sales Recover

By Alejandro Enríquez | Thu, 04/08/2021 - 18:03

INEGI's record of the light vehicle sector in Mexico in March show total sales of 95,513 units, a positive 9.1 percent growth compared to March 2020 – the month when lockdowns began. Exports fell 14.1 percent compared to March 2020, while production grew 12.5 percent year-on-year with a total production of 303,545 vehicles in March 2021, against the same month in 2020 when OEMs shut down production.

Other news include Kavak's US$4 billion valuation and additional financing for a major expansion to Brazil and the Nissan and BMW alliance to boost EVs in the country. Featured interviews include chemical specialties leader, Evonik, and the Mexican Association of Leasing Companies (AMAVE).

Buckle your seatbelt. This is the Week in Automotive!

Nissan and BMW Alliance: MX$100 Million and 700 Charging Stations

After six years of alliance and an investment of more than MX$100 million (US$4.9 billion), Nissan Mexico and BMW Group Mexico have built 700 charging stations with the aim of boosting the electrification of the Mexican vehicle fleet. The ChargeNow alliance began in 2015 to promote electric mobility in Mexico.

Is the Mexican Market Ready for EV’s?

One of the biggest concerns consumers face when buying an EV, besides the price, is the lack of sufficient charging infrastructure in Mexico. But this is a misconception, warn industry insiders.

Chinese OEMs Expanding in Mexico

Chinese automotive manufacturers are blooming in Mexico as the country provided a favorable environment for their growth. Mexico saw four different Chinese automakers enter the country, some more successfully than others.

Evonik: Digitalization, Automation, Relocation Are Here to Stay

Martín Toscano, President and General Manager of Evonik Industries de México, details the defining trends for the specialty chemical sector. Don't miss his insights on how the specialty chemical sector is supporting the industry.

AMAVE: Only One in Five Mexican Companies Uses Leasing

The Mexican Association of Vehicle Lessors (AMAVE) is a civil association founded in 2015 that gathers fleet management and leasing companies of commercial and light vehicles. Its members manage more than 50 percent of the leased vehicles in the country. Do not miss the insights from its Director General, Liliana Anaya.

Kavak Reached US$4 Billion Valuation

The Mexican startup that has created an online marketplace for used vehicles in Mexico reached a US$4 billion valuation after its last Series D funding round. The company will extend its operations from Mexico and Argentina to Brazil and other countries within 24 months.

Photo by:   MBP
Alejandro Enríquez Alejandro Enríquez Journalist and Industry Analyst