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Together, these companies produce more than 40 brands and 500 models. Baic Group has expressed interest in producing electric vehicles in Mexico by 2020. Toyota will open its second plant in Mexico in Apaseo el Alto, Guanajuato. Hyundai produces through its Kia partner and BMW will open their first plant in San Luis Potosi in 2019. Mercedes Benz’s production is in partnership with Nissan–Daimler. Established automakers include Audi, Baic Group, FCA Group, Ford, General Motors, Honda, Kia, Mazda, Nissan, Toyota and Volkswagen. In 2018 Mexico ranked as the sixth-largest vehicle producer with nearly four million units. The Mexican Automotive Industry Association estimates that Mexico will become the fifth-largest worldwide vehicle producer by 2021 due to new OEM players. Department of Commerce, Bureau of the Census, Foreign Trade Division.
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Sources: Country economy, Mexican Automotive Industry Association & U.S. ***Total Market Size cannot be calculated due to the lack of comparable Local Production figures. OEMs decided to export more to maximize revenues in anticipation of new duties or a change in rules of origin for automobiles. **The pronounced jump in exports from 2016 to 2018 coincides with the NAFTA renegotiation. This is a rough estimate that cannot be directly compared to the export and import figures in the remainder of the table. *Local production is calculated by applying the Mexican Government estimate of automotive production as a percent of GDP and converting the figure to U.S. Source: Mexican Automotive Industry Association (AMIA) & United States Department of Commerce, Bureau of the Census, Foreign Trade Division. *Total market size = (total local production + imports) - exports Vehicle production levels are forecasted to reach five million units by 2020, given the new players and expanding manufacturing capabilities.
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In addition, recent investments by established automakers and new Original Equipment Manufacturers (OEMs) have increased business opportunities throughout the country and have attracted Tier 1 and Tier 2 supplier bases. original equipment (OE) and aftermarket parts. The size of Mexico’s passenger vehicle market and our shared border provide an excellent market for U.S. This overview focuses on passenger vehicles, and we cover heavy vehicles among the sub-sector descriptions below. Mexico is the fifth-largest manufacturer and exporter for heavy and specialized vehicles and parts in the construction and agriculture industries. It is also the fifth-largest auto parts producer worldwide with USD 92 billion in revenues annually and the second-largest export market for U.S. Mexico is the seventh-largest passenger vehicle manufacturer in the world, producing nearly four million cars annually. Overview The Mexican automotive industry is split between the passenger vehicle sector and heavy vehicles for construction and agriculture. With a well-established and integrated automotive sector, Mexico represents a best prospect sector for auto parts and supplies.
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Mexico - Licensing Requirements for Professional Services Licensing Requirements for Professional Services Mexico - Import Requirements and Documentation Transportation Infrastructure Equipment and Services Leading Sectors for US Exports & Investments Mexico - Limitations on Selling US Products and Services Mexico - Using an Agent to Sell US Products and Services