Mexican auto exports surge in 2017 despite NAFTA fears

Record ID: 945356

  • Title: Mexican auto exports surge in 2017 despite NAFTA fears
  • Date: 8th January 2018
  • Summary: SAN JOSE CHIAPA, PUEBLA, MEXICO (FILE) (REUTERS) GENERAL VIEW OF PLANT FLOOR EMPLOYEE WORKING IN PLANT CAR MOVING THROUGH PRODUCTION LINE EMPLOYEES AND CARS IN PRODUCTION LINE EMPLOYEES WORKING UNDER BONNET CRANE CARRYING CAR ABOVE PRODUCTION FLOOR
  • Embargoed: 22nd January 2018 21:48
  • Keywords: NAFTA 2016 Mexican growth trading partners auto production Canada record high 2017 exports United States
  • Location: MEXICO CITY/ CELAYA, GUANAJUATO/ AGUASCALIENTES/ SAN JOSE CHIAPA, PUEBLA, MEXICO
  • City: MEXICO CITY/ CELAYA, GUANAJUATO/ AGUASCALIENTES/ SAN JOSE CHIAPA, PUEBLA, MEXICO
  • Country: Mexico
  • Topics: Government/Politics,International Trade
  • Reuters ID: LVA0047X94QIR
  • Aspect Ratio: 16:9
  • Story Text: Mexican auto production and exports hit a record high in 2017, far outpacing growth in 2016, despite fears shipments could be hurt by a renegotiation of the North American Free Trade Agreement (NAFTA) with top trading partners the United States and Canada.
    Full-year 2017 auto exports grew 12.1 percent and production increased 8.9 percent, auto industry group AMIA said on Monday. Exports rose 16.7 percent in December from the same month a year earlier, while production was up 1.5 percent.
    Full-year production came to 3.77 million units in 2017, while exports totalled 3.1 million units, according to AMIA.
    AMIA has a preliminary production forecast of over 4 million units for 2018, said Solis, a 6 percent increase in output over last year.
    With Canada and Mexico objecting to major changes that Washington wants in NAFTA, time is running out to settle differences before the negotiations are scheduled to wrap up at the end of March.
    Mexico's booming auto sector has benefited from NAFTA as major manufacturers, such as General Motors Co, Ford Motor Co, Fiat Chrysler Automobiles and Volkswagen AG, have made the country a top export hub, attracted by cheap labour and free trade pacts with more than 40 nations.
  • Copyright Holder: FILE REUTERS (CAN SELL)
  • Copyright Notice: (c) Copyright Thomson Reuters 2018. Open For Restrictions - http://about.reuters.com/fulllegal.asp
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