Trade & Investment
The Washington Post - Back in the 1980s, the U.S. auto industry went through a major upheaval. Now, three decades later, the U.S. auto industry is going through yet another major churn. And this time around, Mexico is the driving force.
Aviatime - The VivaAerobus Group has signed a purchase agreement for 52 Airbus aircraft, representing the biggest Airbus aircraft order by a single airline in Latin America. VivaAerobus is a Mexican low-cost carrier.
Dallas Morning News - Dallas-based MoneyGram said it expanded its money-transfer services in Mexico. Under a deal with Farmacias Guadalajara, customers can send and receive money at more than 1,000 of the drugstore chain’s locations.
The Hindu - Volkswagen India has begun exporting the Volkswagen Vento to Mexico which, in the future, will become the single largest export market for VW India with every second car produced for exports at the Pune plant being sold there.
Bloomberg - Chrysler Group, the U.S. automaker controlled by Fiat, will add about 500 workers at a Mexican engine plant, two people with direct knowledge of the matter said. Chrysler has five plants in the area.
Capital Press - The USDA has released a draft version of the requirements Mexican potato exporters will be expected to follow in order to ship fresh spuds to the U.S., an important step in efforts to open the border between the two countries to fresh potato trade.
Dow Jones - U.S. energy companies are turning to Mexico as they struggle to find uses for the glut of natural gas that has depressed domestic prices for the fuel. Pipelines are carrying twice as much natural gas to Mexico as they did in 2010.
Reuters - Mexican factory exports rose in August in a sign of firmer U.S. demand, but the pace of consumer imports fell as Latin America's No. 2 economy struggles to gain speed after a weak first half this year.
Bloomberg - Mexico’s record auto production might get another boost from Bayerische Motoren Werke (BMW) and Hyundai Motor Co., which are considering building factories in Latin America’s second-largest economy, Economy Minister Ildefonso Guajardo said.
The Record - Mitchell Plastics is opening a plant in Queretaro to produce injection moulded plastic parts for automobiles. The plant, which will employ 350, currently is under construction oand is slated to begin production in March 2014.