Mexico, top 3rd auto exporter in the world
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According to reports by ProMexico and BBVA Bancomer, the automotive industry in Mexico has been consolidating projects that maintain it as one of the most productive economies globally, thus becoming the third international light vehicle exporter in the short term. The estimated vehicle production for 2017 is roughly 3.6 million units, a 5% annual growth rate, which is how the automotive industry will maintain its international competitiveness, shifting from zero tariff taxes, to a 0.1% tariff. The Mexican Association of the Automotive Industry (AMIA) expects to have 5 million vehicles manufactured by 2020, with 80% of them going to the global market.