The Week in Automotive: Mergers, Investments and EfficiencyBy Alejandro Enríquez | Fri, 11/29/2019 - 12:01
Despite lowering automotive exports, strong signs of confidence in the sector have appeared. Volkswagen Leasing announced a debt issue of US$130 million, while BMW continues to invest to strengthen its aftersales service at its 42 dealerships. In addition, Zacatecas’ Governor just announced Daimler’s willingness to relocate Eastern European suppliers to the state.
The FCA-Peugeot merger will be finalized in the coming days, giving birth to the fourth largest OEM in the world. Meanwhile, aiming to make its operations more efficient and sustainable, Audi will cut 9,500 jobs in Germany by 2025 and Nissan will roll out a high-tech production system globally.
Ready to hit the road? Here is your weekly roundup!
Confidence in the Sector
- Volkswagen Leasing – part of Volkswagen Financial Services Mexico – issued debt for MXN$2.5 billion (US$130 million). This is the second time the company goes to the stock markets.
- More automotive investments to arrive to Zacatecas. The governor announced Daimler will bring suppliers from Eastern Europe to the state.
- BMW shows confidence in the country as it continues to invest in customer service, despite the sector’s overall performance in the country. As of today, BMW group has 42 dealerships in Mexico.
- The automotive and oil sectors are braking Mexican exports as their numbers fall for the second month in a row.
Changes for the Future
- The FCA-Peugeot merger will birth the fourth-largest OEM in the world. According to Igor Dumas, CEO of Peugeot Mexico, the deal will be closed in the coming days.
- Audi to cut 9,500 jobs in Germany by 2025, as part of a transformation plan to make its operations more efficient and sustainable.
- Nissan will roll out a high-tech production system globally amid pressure to cut costs.
- Uber presents business gift cards. These will be electronic credit for employees to use in Uber, Jump and Uber Eats.
- After two generations, BMW presents its new Series 1 model. The 118iA Sport Line and 118iA M Sport are already available in Mexico while the M135 iA xDrive will arrive in 1Q19.
- Porsche 911 Speedster will arrive to Mexico with 10 units out of the 1,948 produced globally.
- Orders for Tesla’s electric Cybertruck pickup are inching closer to Model 3’s record sales in 2016. Elon Musk informed 250,000 customers have lined up to buy the new vehicle.