Reasons for this are vulnerabilities of the globalized supply chains, political risks, or stricter rules of origin for the automotive sector in the course of the United States-Mexico-Canada Agreement (USMCA). The agreement stipulates, for example, that the regional share of value added in the automotive sector must be 75 per cent or that the hourly wage of workers must be at least 16 US dollars.
- 05/02/2023
- Report
- Markets & Industries
Motor vehicle industry in Mexico on the upswing
Automobile production is the backbone of Mexican industry, according to Germany Trade & Invest (GTAI), Germany's foreign trade and investment agency, in a recent report on market trends. The chances for further growth in the sector are good.
