Auto industry investments exceed US$100 billion in current presidential term: Ernst & Young
The investments of automotive industry in Mexico already exceed US$100 billion in the current presidential term, averaging US$20 billion per year between automakers and manufacturers of tires and other petroleum derivatives, as well as suppliers of auto parts in general.
This was stated by Andrés Lerch, leader of the Automotive Sector for the North America Region of Ernst & Young (EY) in an interview with Notimex, who added that the goal of reaching the five million vehicles manufactured in the country by 2020 remains valid, “driven by an inertia that nothing will stop.”
“Despite the president of the United States, since his government began two years ago, this industry in Mexico is moving forward. It will continue to grow, even if we wouldn’t want it,” he emphasized.
“Undoubtedly, investments have stopped a little bit this year, but they will not be canceled,” Lerch said.
According to the analyst, in 2016, investments in this industry were of US$32 billion, while last year they totaled US$27 billion, so it can be said that on average they have been of US$20 billion per year in this term.
It is worth noting that the success of the model is based largely on a long process that began in previous administrations, from different political parties, which laid the foundations with trade agreements and other policies that paved the way to attract investments in the sector.