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Mexico drives North American auto investment

Monday, October 21, 2013


The Mexican auto industry is about to go on a $10 billion factory building spree, illustrating the nation's rising economic challenge to rivals from the United States to China.

Japanese and German auto manufacturers are spearheading the drive, say parts suppliers and researchers who see more auto factories built south of the border than in the United States between now and the end of the decade.

The United States will consume the vast majority of the new cars, but Mexico's domestic market has rebounded from a long slump, and in a sign of Mexico's growing global role, auto exports outside of North America will rise faster than those to the United States.

Source: Reuters