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Historically, the automobile industry has been a strategic sector for development in Mexico. Its share in the national economy places it as the second most important industry in Mexico, only preceded by the oil industry.
With a vast infrastructure and over 1,000 auto parts companies, the Mexican automobile sector is the 11th largest vehicle producer in the world, and an important platform for manufacturing global products to the highest standards of quality and safety.
In 2008, Mexico produced 2,102,801 cars, an increase of 4% on 2007, and exported 1,661,406 vehicles, 3% more than the previous year. Such increases are noteworthy in the context of the steep drop in sales of 18% recorded by the American automobile industry.
In the same year, vehicle exports by the Mexican automobile sector rose thanks to a greater diversification of the market. Exports to Europe increased by 9.8%, while sales to Asia and Latin America rose by 2.2% and 7.3% respectively, over the same period.
The Mexican automotive industry is focused on investment markets as much as it is on exports. Key models built in Mexico for worldwide sales are the Lincoln MKZ, the Volkswagen Beetle, the Nissan Tiida, the Honda CR-V, the Dodge Journey and the armored BMW X5. Precision machining, plastic injection molding, aluminum casting, nodular iron, cold and hot forging, along with sheet metal stamping, make this a window of opportunity for the industry.
CDM Auto consultants forecasts that automobile production in Mexico will reach 3.1 million units by 2013, double the 2008 output.
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May 12th, 2010 at 9:49 pm
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