Mexico rapidly overtaking Brazil as Latam's leading auto producer

Monday, July 14th 2014 - 23:03 UTC

Full article 3 comments

Pacific Alliance member Mexico is poised to overtake Brazil, the leading economy in Mercosur, as the top Latin American auto producer for the first time in more than a decade as surging exports to the U.S. spur factory openings and record output. Read full article

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ChrisR
Yes, it's all going steadily downhill for Brazil.

Is anybody at all surprised? No, I didn't think so.

The clue is here: “Mexico is starting to see signs of rebounding after growth missed forecasts in seven of the past eight quarters, while Brazil cut GDP estimates for this year and next and boosted inflation forecasts. Economists project that the Mexican economy will grow 2.8% this year compared with 1.3% in Brazil.”

And is compounded by: “Brazil-made cars and trucks are too expensive, given high labor costs and taxes, to send abroad and go mostly to local buyers.”

This monumental cock-up by the dynamic duo of Dilma and The Liar Mantega will be VERY difficult to turn around.

This is where their messing with Mr. Market has gotten them.
Jul 15th, 2014 - 10:38 pm - Link - Report abuse 0
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JoseAngeldeMonterrey
Mexico will be incrementing production by 40% more within the next couple of years and by 2018 it will be the third or fourth largest auto manufacturer in the world. Right now Mexico is exporting cars to Japan, China, US, Europe, Central and South America.
Mexico´s plants are also complete plants with supply chains established in the country, not simply assembling lines. For example VW manufactures more than 90% of the car in Mexico, only a few parts are made abroad. Audi is opening a plant to manufacture cars, and to send knock off kits to plants in China and South America where they will only assemble them.
Jul 16th, 2014 - 10:26 am - Link - Report abuse 0
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ilsen
GM, Ford and Toyota have all but shut down production in Venezuela.
Background links here;
http://latino.foxnews.com/latino/money/2014/05/07/ford-stops-car-production-in-venezuela-as-currency-controls-make-parts-tough-to/
http://latino.foxnews.com/latino/money/2014/05/07/ford-stops-car-production-in-venezuela-as-currency-controls-make-parts-tough-to/
http://latino.foxnews.com/latino/money/2014/05/07/ford-stops-car-production-in-venezuela-as-currency-controls-make-parts-tough-to/
http://latino.foxnews.com/latino/money/2014/05/07/ford-stops-car-production-in-venezuela-as-currency-controls-make-parts-tough-to/

So, there you have it.
Free gas, no motors.
Another day in Socialist Paradise.....
Jul 16th, 2014 - 02:46 pm - Link - Report abuse 0
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