Exports by Mexican Automotive Industry hit new record

Mexico City.- The Mexican Automotive Industry Association, Asociacion Mexicana de la Industria Automotriz (AMIA), disclosed figures of vehicles made in Mexico exported to six regions, showing that vehicles exports went up as follows; to Africa 859%, to Asia 442%, to Europe and Latin America 82.2% and to the United States 22.8%. Eduardo Solis, Chairman, AMIA, said that the effects from the suspension of the Economic Complementation Agreement (ACE 55) with Argentina will start to be felt in July, as will do the tariffs set by Brazil, since assemblers have not reached their quota yet for tariff-free exports to the Brazilian market. Last June a 40.3% year-to-year increase in sales was achieved, after exporting 264,151 units; the assembler with the largest growth in exports was Volkswagen, with a 52% increase over June 2011.