The Week in Automotive: Signs of Change

The Mexican automotive industry starts to show positive signs of recovery, according to GM. With USMCA’s enforcement, Mexican auto parts manufacturers expect to reach US$102 billion in production value. Meanwhile, SUVs are the best-selling models in North America.

Relevant achievements were also celebrated this week as Tesla surpassed Volkswagen in market value, while Tiguan stands out as the most manufactured vehicle in the country with 221,731 units. In addition, Uber Mexico appoints Gretta González as its new Director General.

Ready for it? Here’s your weekly news roundup.

Newcomer: Chevrolet challenges the segment with Onix 2021 with a price starting at MXN$240,000 (US$12,700).

Signs of Recovery

GM foresees a recovery in car sales for 2020 due to government expenditure and the arrival of new models.

Honda HR-V leads SUV sales in North America with 99,113 units.

Volkwsagen Tiguan was the most manufactured vehicle in the country in 2019.

OEM’s Global Performance

Tesla reaches more than US$100 billion in market value. It has surpassed Volkswagen for the first time and it is only behind Toyota with a market value of US$230 billion.

Toyota recalls 3.4 million vehicles worldwide due to defective airbags.

Volkswagen to pay a US$150,000 fine in Canada following the dieselgate scandal.

Trading Environment

Thanks to USMCA, Mexican auto parts manufacturers foresee a US$102 billion in production value.

Canada will start the USMCA ratification process on January 29th. The treaty will be enforced three months after Canada’s final approval.

Trump threatens a 25 percent tariff to European cars if the EU does not reach a trade agreement with the US.

Mobility on the Spotlight

Uber appoints Gretta González as its new Director General in the country. Previously González worked as COO of Kavak.

DiDi to include 200 electric vehicles in its Mexico fleet, according to COO Juan Andrés Panamá.