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Mexico Economy Grows Strong with Increasing Auto Exports

13 September, 2012

With its proximity to the American and Canadian markets,and the increasing Latin American auto market,Mexico is poised to become an international automobile export powerhouse. In January,reports Fox News,sales exports grew by a double digit percentage compared with the previous month.

The Mexican Automobile Industry Association,or AMIA,stated Wednesday that the sales in January showed the most growth in key areas. There were also increases in exports to Canada,Latin America,Europe,Asia and Africa. Sales to the United States are responsible for the vast majority of the increases,according to AMIA.

The announcement also included figures on the overall production and details on domestic sales.

In January,Mexico produced 199,130 vehicles – an overall production increase of 21%.

Exports increased by 165,046,which represented an expansion of 45%.

Light vehicle exports to the U.S. alone rose 36% compared to the January of the previous year.

Domestic sales for vehicles within the Mexican border rose 7.3% (68,766 vehicles).

The report underscored that American consumers were the primary driving force behind the increases – but exports to Canada and other countries still rose quite a bit. For example,Canadian exports rose by 14.4%,exports to European countries increased 20% and sales to Latin American countries tripled in the last month.

It’s important to note that Mexico’s increase is due to other factors than just the global economic increases. As a point of comparison,Mexico’s vehicle exports for January 2011 were 40% higher than January of 2008 – which was well before the a dip in economies.

“We have a number that historically we’ve never had before,” said Eduardo Solis,president of the AMIA,“Fourteen of every 100 vehicles sold in the U.S. are Mexican-made in the month of January.”

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