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ProMéxico

ProMéxico



COORDINATION OF INSTITUTIONAL COMMUNICATION
Mexico City September 19th, 2017
Press release 78/2017

 

Mexico shows potential in automotive fair in Frankfurt

  • It is estimated that by 2020, the Mexican automotive industry produces about 5 million light vehicles from 13 different brands and more than 30 manufacturing plants.
  • The challenge of the automotive industry is to forge partnerships with emerging companies (startups) technology, academia and Government to promote new technologies in the sector.
Comunicado 78-17

Frankfurt, Germany. From 14 to 24 September is the Frankfurt Motor Show, considered one of the most important automotive fairs of the world. In the framework of this event, on 18 September was held the day of Mexico, with the slogan "Partners of the automotive sector".

As a part of the activities of the day of Mexico, it was presented the panel "Driving forces for mobility of the future", moderated by Armando Cortes, Executive Director of ProMexico, which addressed issues such as the challenges and perspectives of the digitization of the automotive industry.

The digitization of the automotive industry has become a key to its future. The biggest innovations in the sector are originated by the digital giants, who have developed software car driving and mobility services. "The challenge of the automotive industry, and services around it, is to forge partnerships with emerging companies (startups) technology, academia and Government to promote new technologies in the sector", said Cortés Galicia.

The Frankfurt Hall, is the international Fair where the main brands of cars in the world gather to display their latest innovations, such as hybrid cars, whose sales grow every day both in economies and developed markets emerging, and electric cars, that charge more and more force as a solution to the challenges posed by climate change.

To the Ambassador of Mexico in Germany, Rogelio Granguillhome and during the opening of the day of Mexico in the Frankfurt trade Fair, the representative of the Ministry of Economic Cooperation, Günther Beger, referred to Mexico as a strategic partner, not only for the German automotive sector.

"Mexico is an important strategic partner not only of the German automotive industry. In 2016, Mexico was the seventh largest car producer with 3.6 million units manufactured in the world and the largest in Latin America. This country is the second largest producer of cars for the American market after Canada. 80% of production is exported", he said.

The automotive industry is one of the most dynamic and competitive in Mexico, which has established itself as a major player in the sector globally. In recent decades, the country has caught the attention of major players in the industry due to sustained growth in the production of vehicles and auto parts, as well as the strength and prospects for growth in its domestic market.

The automotive sector contributes more than 3% of the gross domestic product (GDP) national and 18% of manufacturing GDP; generates currency for more than 52,000 billion dollars a year, and is responsible for around 900,000 jobs across the country.

Mexico is the seventh producer and the fourth exporter of light vehicles globally; in 2016, the Mexican automotive industry produced more than 3.4 million units of light vehicles and exported 2.8 million units.

The automotive sector concentrates the highest proportion of foreign direct investment carried out in Mexico in the past six years; the automotive industry attracted investments by more than 21,000 million dollars, which have resulted in the start of operations of six new vehicles and engines assembly plants, the expansion of the production capacity of five plants already installed in the country, and the attraction of a greater number of direct suppliers around new developments.

Learn more about the automotive sector of Mexico on this link: http://bit.ly/2p0SKrS

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Coordination of Institutional Communication
ProMéxico
promexico@promexico.gob.mx
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About ProMéxico — ProMéxico is the Mexican government institution that supports Mexico's trade abroad and the internationalization of Mexican companies, and attracts foreign investment. Mexican business owners have access to a ProMéxico office in their place of origin, both in Mexico and abroad, bringing them closer to their potential buyers. Furthermore, foreign investors can reach every corner of the world through offices strategically located in areas that are key for world trade. For more information go to: www.promexico.gob.mx

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