Sector Receives New Investments But Production Hits Record Low

New investments are arriving to Mexico. Daimler will strengthen its operations in the State of Mexico, Denso will expand its manufacturing capacity in Guanajuato and new automotive investments are also arriving to Puebla.

Meanwhile, vehicle production in the country has dropped due to chip shortages and reached its lowest point in 14 months with 221,843 vehicles assembled.

On international news, GM presented solid financial results while 3D Systems, the additive manufacturing company, also reported promising quarterly results.

Ready? This is the week in automotive!

Car Assembly Hits Lowest Level in 14 Months

The automotive industry continues suffering as assembly dropped by 26.5 percent in July to 221,843 light vehicles, its worst level in the last 14 months, because of the semiconductor chip shortage and the COVID-19 pandemic.

Puebla to Invest in Automotive Industry

The Government of Puebla will announce investment projects to reactivate the state’s economy, especially in the automotive industry, SMEs and e-commerce businesses. These strategies are part of its goal to fight against unemployment caused by COVID-19, said Governor of Puebla Miguel Barbosa Huerta this Thursday.

Daimler Trucks to Invest US$30 Million in Tianguistenco Plant

Daimler Trucks México and the Governor of State of Mexico, Alfredo del Mazo, announced the company's US$30 million investment in its Santiago Tianguistenco plant. "We held a meeting with Daimler's executives, who informed us of the investment in Santiago Tianguistenco, where they develop, produce and sell heavy-duty trucks with state-of-the-art technology," said del Mazo via social media.

Denso To Expand Operations in Guanajuato

Denso is expanding its operations in Guanajuato with an initial US$9.8 million investment, announced Governor Diego Sinhue. The company has two sites in the state, one in Silao and the other in Irapuato.

“No” to Illegal Car Regularization in the Border: AMDA

The long battle between the automotive industry and illegally imported cars was reinvigorated in Mexico following President Andrés Manuel López Obrador’s stated interest to regularize these vehicles, better known as “chocolate” cars, in the northern border. AMDA deeply disagrees with this decision.

Greener Mobility Projects for Leon, Mexico City

Swedish Volvo is currently performing a pilot test with the government of Leon, Guanajuato, of one of its electric buses. The project will allow Volvo to analyze the impact of the bus and its operations in the city and determine how much energy is consumed by this type of bus.

3D Systems’ Stock Price Soars After 2Q2021 Results

3D Systems’ 2Q2021 financial report showed that its earnings per share (EPS) reached US$0.12, beating up estimates set by analysts of US$0.05 per share and leading its stock prices to soar over 10 percent after hours, according to Yahoo finance.

GM’s 2Q2021 Results Beat Estimates

Last week, US giant GM reported solid financial results during 2Q2021, highlighting that its strategies for electric and autonomous vehicles are moving faster even as the company focused in producing its highest-demanded vehicles during the pandemic.