México’s automakers saw record-breaking investments in 2013, which added $3.2 billion and analysts expect the country to begin a period that will continue to see more than $3 billion in annual investments in that sector.
Carlos Gomez, an analyst at Scotiabank, said “The low labor cost, duty-free access to markets of more than 1 billion people, a privileged geographic location and increased productivity in the sector have increased flows of Foreign Direct Investment in México setting a record last year.”
The maximum historical figure was reached after the investments received by México in the manufacture of transportation equipment climbed 19.5% in 2013, to close well above the annual average of $2.150 billion dollars in the last 10 years.
The consulting firm IHS Automotive estimates that México will have an annual growth rate of 7.6% in the production of light vehicles from 2013 to 2018, the highest among the major automakers of the United States (1.8 %), Brazil (4.2%) and Canada (-4.7 percent).
(from The Economist)
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