The Wall Street Journal,the international newspaper with a daily circulation of over 2.1 million copies,recently reported that Mexico's auto production continued its brisk growth in November,rising 18% versus the same month a year ago.
Forbes,voiced that it was the best November ever for the Mexican Auto Industry,fueled mostly by exports to the US where Mexican-made vehicles have just over 11% of market share,according to the Mexican Automobile Industry Association.
Total auto exports rose 25% compared with November 2009 to 168,227 units,AMIA said,while domestic sales rose 16% to 75,582 autos. Production in the first 11 months of the year grew 54% versus the same period last year to 2,089,160 units.
Trying to cash in on this export bonanza,Volkswagen has recently announced an investment of $550 million dollars in the first stage alone of a brand new,state of the art,production facility in Guanajuato. More than 700 jobs will be created for the new venture. This will mark the second VW factory in Mexico,the other located in Puebla. Volkswagen is ambitiously expecting completion by 2013,with construction beginning as early as October 2010.
President Felipe Calderon announced Volkswagen's investment at an official ceremony in Mexico City. He was accompanied by the President of VW and the Governor of Guanajuato.
Last year,the Volkswagen group sold 6.3 million vehicles worldwide. In that same year,VW invested over $4.2 Billion dollars in research and development to accommodate the most strict emission and contaminant guidelines on the planet,greatly reducing carbon dioxide pollution. As a bonus,they will even experience better gas mileage in their famous cars. Volkswagen has been producing cars in Mexico since 1964 and has another 65 worldwide.
Mexico has gained increased popularity as the preferred destination for low cost manufacturing,even outpacing China. As business investment pours into Mexico,so do investors looking for great opportunities in all sectors of the Mexico real estate,infrastructure and the Mexican stock market,which has outpaced the US for the last 10 years.