Home Business-newBusiness Mexico expected to climb to fifth place in auto production

Mexico expected to climb to fifth place in auto production

by Yucatan Times
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LEÓN, Guanajuato — The Economy Ministry estimated that by 2020 Mexico will move from seventh to fifth place in global vehicle production, with the production of five million units, Notimex reported.

The head of the federal Economy Ministry, Ildefonso Guajardo Villarreal, said that in the last three years Mexico was able to attract investments of nearly $26 billion dollars in the automotive industry, with which the installation and expansion of five plants were achieved, to multiply its capacity.

(PHOTO: usatoday.com)

(PHOTO: usatoday.com)

During the laying of the Michelin tires plant foundation stone in León, he added that with such investments the production of five million vehicles per year by 2020 will be achieved, which “will lead us from the seventh to fifth place of largest producers”.

The official also said that the tire production in Mexico is growing, which today amounts to 21 million pieces, of which 75 percent is exported.

Source: notimex.gob.mx

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