The auto industry of Mexico is on the rise these days and has reportedly reached a major milestone. Mexican auto industry stated that it has surpassed Japan as the second largest vehicle exporter to the United States. It has been reported that the latest milestone has been reached in the last three months.
With this in mind, Mexico is currently second only to Canada. Experts have opined that Mexico is likely to become the top exporter to the United States by 2015. Analysts from the industry were expecting that the Latin American country would surpass Japan by the end of 2014, but the Mexican Automobile Industry Association (AMIA) said that the progress has happened faster than it was expected.
Industry analyst at Michigan-based WardsAuto Group, Haig Stoddard said, “It does not surprise me that they did (overtake Japan), and that number will even get bigger”. Mexico has the second biggest economy in Latin America and has managed to grow at a steady pace as a global power in the auto industry.
Mexico is considered to be the world’s eighth largest car maker, as well as the number four exporter. The AMIA president Eduardo Solis said that the country will continue to grow very strongly in the next five years. Solis went on to say that the ideal geographic location and skilled workforce with government back-up will invite investments from abroad.
Photo Credits: IHS