Susana Gonzalez | Bloomberg | Getty Images
A truck transports brand new cars at the Port of Veracruz, Mexico.
With indications growing in which the United States, Mexico in addition to Canada are close to agreeing on a framework for altering the North American Free Trade Agreement, the Mexican auto industry can be exporting vehicles to the U.S. at a record pace.
brand new data coming from the Mexico Automotive Association show vehicle exports to the U.S. within the first quarter climbed 5.3 percent, despite a slight decline in exports in March. In 2018, automakers have shipped almost 0,000 vehicles to the U.S., with those designs doing up almost 15 percent of U.S. auto sales within the first quarter, according to Ward’s Automotive.
The increase This particular year can be driven in part by strong demand for pickups in addition to SUVs, which make up a sizable percentage of the vehicles exported coming from Mexico. Both General Motors in addition to Fiat Chrysler build pickups in Mexico, while Audi imports its best-selling SUV, the Q5, coming from in which country.
President Donald Trump has been pushing to alter NAFTA as part of his plan to drive more auto production in addition to hiring among automakers within the United States. In a television interview, Mexico’s economy minister indicated there can be an 80 percent chance of a brand new NAFTA agreement by the first week of May.
How in which deal can be structured in addition to whether in which would certainly prompt automakers to scale back production in Mexico remains unclear.