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Wednesday, April 25, 2012

Audi Picks Mexico over U.S. for New Audi Manufacturing Plant

Audi has recently announced plans to build an auto plant in Mexico in order to boost its sales to two million units/year by 2020. The plant, which is expected to start producing Audi SUV models in 2016, will be the third plant in Mexico built by parent company Volkswagen. The Chairman of the Board of Management of AUDI AG, Rupert Stadler, explained the decision for Audi to invest nearly $2 billion in Mexico instead of the U.S., “As an established car-making location, Mexico offers an excellent economic basis for Audi production operations.”

Monday, April 23, 2012

With Lower Inflation Rates, Mexican INFONAVIT Sets First Ever Fixed Mortgage Rates

Mexico’s largest mortgage provider, the state-controlled Infonavit, plans to offer home buyers fixed-rate loans for the first time, coinciding with the end of the two-decade long inflationary 'hangover' from the country’s Tequila Crisis.

Infonavit, a company founded in 1972 to give workers access to home financing, will allow Mexicans to access 30-year mortgages for the first time as soon as June.

The lender, which has made about 4.4 million loans since 2001, also plans to issue mortgage-backed securities in pesos next year to match income with obligations, the first such sales since 2004.

Wednesday, April 18, 2012

Production of Honda Fit Hatchback to Move to Mexican Manufacturing Plant

Many Japanese automakers have started to consider building cars for export markets outside their home country, due to the strength of the Yen that can increase profits. Honda is a prime example, due to its recent decision to build the Honda Fit hatchback at its new plant in Mexico at the beginning of spring 2014. This new plant in Guanajuato, Mexico is Honda’s third assembly plant in Mexico and is being built for the production of “fuel-efficient subcompact vehicles” for the Mexican and North American markets. The plant will raise Honda's North American production capacity to 1.83 million vehicles annually.

Ford Invests in Hermosillo, Mexico Plant

Ford, Mexico’s leading car exporter last year, has just announced that in the near future they will be investing $1.3 billion in the Hermosillo Ford plant in Northern Mexico. This investment will lead to the employment of around 1,000 new workers on top of the 2,700 individuals already employed at the location. Ford’s plant in Hermosillo, Mexico will be dedicated to the increased production of its anticipated midsize 2013 Ford Fusion vehicle and its new Lincoln MKZ vehicle. The 2013 Ford Fusion, available in the fall, will represent a landmark in the progression towards sustainable transportation practices in Mexico.

Renewable Manufacturing Hub in Baja California

There are plans by the Silicon Border industrial park, a high tech manufacturing area, and Jones Lang LaSalle, a commercial real estate services company, to open up a manufacturing hub close to the Mexican border in Baja California for solar panels and wind panel equipment. President of the Silicon Border industrial park Daniel Hill and another environmentally conscious company, Baja Sun Energy, stated, “Most people feel the economy in the US is picking up. Everybody that you talk to sees the green sprouts of growth coming back.” Hill described how Baja California seemed like a suitable place for the manufacturing venture because of its vital location and the economic relationship between the United States and Mexico.

The New and Improved NYC Taxi ⎯ the ‘Taxi of Tomorrow’ ⎯ is Made in Mexico

New York City officials recently unveiled the “Taxi of Tomorrow,” the Nissan NV 200 model that will be the new NYC taxi at the New York International Auto Show. The vehicle, manufactured by Nissan Motor Co. in the city of Cuernavaca, Mexico, was engineered to be durable enough to handle the city’s 6,300 miles of ‘pothole-ridden streets’, according to Nissan officials. The modernity of the vehicle is the reason behind the choice for the Mexican-made taxi: “The fact that we have been selected means a lot about the versatility of the platform”, said Carlos Ghosn, chief executive officer of Nissan of the Nissan NV 200 model, after presenting the cab at a reception yesterday attended by New York City Mayor Michael Bloomberg. “You can adapt this product exactly to the city’s very demanding needs in terms of safety, comfort, fuel efficiency, emissions and modernity.”

Mexico Becoming Hub for Aerospace Industry

One of the world’s leading aerospace manufacturing companies, Southwest United (SU) has begun to recognize the benefits of doing business in Mexico. CEO of Southwest United, Bill Emery claimed, “The infrastructure in Querétaro is every bit as good as in Oklahoma.” Southwest United has been in a business partnership with the Mexican aerospace manufacturing company Galnik since 2009 and ever since has seen considerable developments in their business infrastructure as a result of this alliance. Mexico’s aerospace manufacturing industry is growing at a fast rate because of its strong ties with the United States and Canada and its desirable geographical location for expansion. For more on aerospace manufacturing in Mexico, go to

The IMF Releases Financial Sector Assessment with Positive Forecast for Mexico

The IMF has recently released its latest Financial Sector Assessment, a program that looks to review the financial health of 25 major financial sectors, as part of the IMF’s economic surveillance and monitoring. “Our assessment of Mexico’s financial system is very positive,” said Fernando Montes-Negret, a senior financial expert in the IMF’s Monetary and Capital Markets Department. This year is busy for the IMF, which plans to evaluate 18 countries’ financial health—ranging from France and Spain to Argentina and Armenia—to spot any potential trouble on the horizon. For more information on the positive outcome of Mexico’s assessment, along with spotted risks and suggested actions, click here.

Prince Haakon of Norway discusses Latin America’s Economic Progress Ahead of the World Economic Forum

His Royal Highness Crown Prince Haakon of Norway will be one of the co-chairs at the World Economic Forum on Latin America April 16-18, 2012 in Puerto Vallarta, Mexico. Prince Haakon points out that Latin America’s economic progress is impressive and that hosting this forum as well as the G20 and the Rio+20 in the upcoming months goes to show the importance of the region. When discussing important items that need to be addressed at the forum, the Prince pointed out that addressing the region’s youthful demographics was of great importance. For example, 50 percent of Mexico’s population is under the age of 27, so it is important to discuss how to best use that tremendous resource. More on the World Economic Forum Latin America on

Sally Blount of the Kellogg School of Management Discusses the Role Education Will Play at the World Economic Forum

Sally Blount of the Kellogg School of Management, Northwestern University will co-chair the World Economic Forum on Latin America April 16-18, 2012 in Puerto Vallarta, Mexico. Blount recognizes that convening to talk about Latin America, which has a population close to 6 hundred million people, is critically important for the future of the world and the region. More on this topic on

Friday, April 13, 2012

Daniel Servitje, CEO of Grupo Bimbo, to Co-Chair the World Economic Forum on Latin America

Daniel Servitje, CEO of Grupo Bimbo, the fourth largest food corporation in the world, will be one of the co-chairs for the World Economic Forum on Latin America in Puerto Vallarta, Mexico April 16-18, 2012. When asked how the forum was relevant, Servitje said, “The forum presents us with a great opportunity to put a spotlight on Latin America. The region is experiencing a period of unprecedented prosperity and political stability. This has attracted capital investment from across the world at a time when many other regions are still struggling to cope with the ongoing financial crisis.” As Mexico and Latin America’s influence continues to grow in the global economy, Servitje believes that Mexico can increase their competitiveness in the region, create opportunities for its people in a sustainable manner, and strengthen the collaborations between it’s private sector and government. For the full interview Daniel Servitje, go to

Jeffrey Joerres, President and CEO of ManpowerGroup, Speaks to MexicoToday

Jeffrey Joerres, President and CEO of the ManpowerGroup, a world leader in workforce solutions, will be one of the co-chairs at the World Economic Forum on Latin America in Puerto Vallarta, Mexico April 16-18, 2012. As a leader in his field, Joerres keeps his eye on the world scene, and has observed that Latin America is taking on a much stronger role in commerce. Specifically thanks to strong economies and powerful demographics. These shifts are causing American companies to look south instead of east, which had previously been the case. For the complete interview, go to

Wednesday, April 4, 2012

Mexico's Grupo Modelo Intends to Enter Brazil Beer Market

Grupo Modelo has said it intends to enter Brazil's beer market since it expects to face tougher competition from Heineken-owned FEMSA Cerveza at home in Mexico. Modelo is still weighing up an entrance in Brazil, said the Mexican brewer's head of sales and marketing, Jose Pares. However, the Mexican brewer is reluctant to announce a date or comment on its distributor options. Last week, Modelo reported global net sales for the 12 months to the end of December up by 7.3%, to MXN91.2bn (US$7.1bn). Volume sales rose by 6% on 2010.

Mexican stocks eye record high after U.S. data

Mexican equities climbed Monday, with the benchmark posting another record high following encouraging manufacturing data from the U.S., Mexico’s largest export market.

Among Monday’s blue-chip advancers, shares of retailer Wal-Mart de Mexico WMMVY -0.93%  rose 2%. Consumer discretionary issues were higher, led by a 4.3% climb in brewer Grupo Modelo MX:GMODELOC +2.52% . Also higher were mining stocks, with Industrias Penoles up by 2.9% and copper producer Grupo Mexico MX:GMEXICOB -1.77%  up by 1.1% as May copper HGK2 -3.27%  rose more than 2% to $3.92 a pound.

The IPC on Friday ended the first quarter up 6.6%, wiping out last year’s loss of 3.8%. Gains came in part after a number of reports showing improvement in Latin America’s second-largest economy, including a stronger-than-expected rise in industrial production of 4.2% in January from a year ago.

All Inclusive Collection in Mexico and Dominican Republic Launches Kids Club Partnership with HIT Entertainment

The All Inclusive Collection - the brand that's shifting the sands of the all inclusive vacation experience - announces a partnership with HIT Entertainment, one of the world's leading children's entertainment producers and rights-owners, for exclusive rights in Mexico, the Dominican Republic and the Caribbean that brings some of the world's most popular children's brands to its resorts in the region. HIT's portfolio, including Thomas & Friends®, Barney®, Bob the Builder® and Angelina Ballerina®.

The portfolio's stars will be featured in the newly designed kids clubs and interactive kids' areas opening this summer at the Hard Rock Hotel & Casino Punta Cana, Cancun Palace and Aventura Cove Palace.

Tuesday, April 3, 2012

DuPont Plans to Open Innovation Centers in Mexico

DuPont, the American chemical manufacturer, is looking to further strengthen Mexico’s growing business and investment sectors. By leveraging the power of their global network, DuPont plans to establish a Mexico based “innovation center” that allow rapidly expanding countries to ‘collaborate with their customers, partners, governments and academia to meet Mexico’s growing needs in areas of food, protection and energy.’

“We are looking forward to helping our customers grow their business right here in Mexico,” said Jorge Cossío, president, DuPont México. “These centers are a new way of looking at innovation and collaboration to help our customers find solutions to their unmet needs so that new products can be developed and go to market faster.”

Monday, April 2, 2012

MoneyGram International’s Expansion in Mexico

MoneyGram International Inc. is one of the biggest money transferring companies in the world. They contain offices around the globe and provide individuals and businesses the ability to collaborate financially through their services. Recently, MoneyGram International Inc. declared the expansion of its money transfer services network in both Mexico and India. MoneyGram International Inc. hopes to expand their financial services to more than 5,000 Post Offices in India and create around 1,800 money transfer locations in Mexico. Although MoneyGram has many networks in Latin America, this move into Mexico will prove to be extremely imperative to the company’s progress and to the development of Mexico’s growing economy.

Mexico’s Economic Potential Among the Topics for the World Economic Forum on Latin America

In the global economy, Latin America is known for its stability, potential for growth, and innovation in the areas of social reform, agriculture and renewable energy.

On April 16-18 Puerto Vallarta, Mexico will host the World Economic Forum on Latin America. The forum will address Latin America’s role in the governance of the global economy, development and financial resilience, food security, employment and green growth. In 2012, Mexico will also host the G20 Summit. Mexico itself shows great economic potential in 2012. With projected 3.5 percent economic growth, a population of 110 million and 50 percent of its population under 27, Mexico is getting a lot of attention from investors abroad...More on