Mexico automotive industry update from Mexico Now’s Guanajuato Conference
Information contained in this Mexico automotive industry update keeps interested parties in the loop.
Earlier this month in the city of Guanajuato, Mexico Now held its Mexico’s Auto Industry Summit 2014 at the Poliforum Leon. Like other events held throughout the year, Mexico-Now assembled a group of industry experts to inform those in attendance of the most current goings on in the Mexican automotive industry. One of the speakers featured at automotive industry in Mexico summit was Guido Vildozo. Mr. Vildozo is analyst with ten years of experience with IHS Automotive. His primary role with the company is tracking automotive industry trends throughout Latin America.
During the Mexico Automotive Industry Summit, Mr. Vildozo gave a presentation consisting of numbers, statistics and data aimed at painting an overview picture of the current state of the industry.
The speaker began the presentation by providing broad context information as regards the global auto industry including: information on world sales, world sales broken down by geographic region, as well as forecast in formation on future sales of light vehicles in the aggregate and by region.
In his Mexico automotive industry update, Vildozo also made a comparison between present and forecasted future light vehicle sales. While that the US looks at closing out 2014 with the sale of an estimated 15.4 million units, it is expected that Mexican domestic sales will reach a significantly smaller figure of 1.3 million. The speaker demonstrated data that an increase in production and competition, as well as greater access to credit for financing purchases over time will be important factors in sustaining increased Mexican purchases in the future.
The Mexico automotive update presented by the IHS Automotive expert also demonstrated OEM shares of light vehicle sales in the Mexican domestic market. US, Japanese, and European OEMs all command sizable market share in the country. In addition to Mexican market share data, Vildozo also examined the recent structure of the North American automotive industry from a past, present and projected future perspective by using comparative and other graphic data, as well as export and ranking data for the region and for the world.
The Mexico automotive industry update delivered by IHS’ Guido Vildozo at the Mexico Now event in Guanajuato included several “takeaways” for those in attendance. Three of them communicated the idea that in the future:
luxury vehicle manufacturing in Mexico will experience significant growth in coming years;
annual Mexico production will reach five million light vehicles within the foreseeable future;
Mexican sales volumes will be predominantly tied to the conditions that are prevalent in the US market.
In addition to being the premier provider of current information on Mexico’s maquiladora industry through its Mexico Now magazine, the publishing companies hosts a series of informational events, including a yearly Mexican automotive industry update throughout Mexico and the United States. Learn more about the magazine and Mexico Now conferences on the company website.
LINK BELOW TO PRESENTATION: