Car Industry: Mexican auto production falls by nearly half

FOCUS Information Agency - Mexico's vehicle production saw a year-on-year plunge of 48.1 percent in June, due to the economic recession in the United States which buys around 70 percent of the vehicles manufactured, the Mexican Auto Industry Association (AMIA) said in a Monday statement, cited by Xinhua News Agency.

AMIA members General Motors, Ford Motor, Chrysler, Nissan Motor and Volkswagen have been idling plants, reducing shifts and laying off staff because of the decline, according to the statement.

Auto export sales have fallen 42.1 percent, compared to the same period of last year, AMIA said.
Domestic sales is also suffering a 30.7 percent slump, hit by contagion from the United States and by a credit crunch which has bashed demand among consumers, the association reported.

Published by Mike Hitchen,
Putting principles before profits
Auto Cars Mexico Auto Industry