Mexican Automotive Manufacturing Market Attracting Global Investments
Auto exports increased 15% also in the first half of 2011 to a record 1.02 million units. "Production in Mexico is absolutely being driven by exports, and exports continue to grow," AMIA's President Eduardo Solis said in an April news conference as reported byDow Jones Newswires viaFOX Business.
Mazda has been operating for several years already in Mexico with great success. In fact, Mazda recently announced an investment of $500 million to build a new plant in the central Mexican state of Guanajuato to build the Mazda2 and Mazda3 compact cars and engines, according to Reuters. The plant, which will have an output capacity of 140,000 vehicles per year, will help expand the company's Latin American operations. The plant, which plans to employ about 3,000 people at maximum capacity, is expected to be completed by 2013.
Noting the record in sales since he has moved his operation to Mexico, Mazda's CEO Takashi Yamanouchi said in a recent Automotive Business Reviewarticle that its sales results have steadily improved since October of 2005, and in 2010 the company set a new record for both sales volume and market share.