Both Toyota and Honda Planning to Build Plants in Mexico

Via Maquilaportal.com:

"According to Global Insight, Honda and Toyota need a plant in North America, since only 59% of the autos they sell in the region are manufactured in North America; while Nissan manufactures 85% of the cars sold in the region, which provides a competitive advantage."

Hence this analysis, Japanese automakers, Honda and Toyota, are looking for a plot of land suitable to install a new plant in Mexico, different sectors of the automotive industry assure.

"In both cases it would be their second plant in Mexico, since Honda already has one in El Salto, Jalisco, and Toyota does in Baja California."

Mexico Attracts Investment Interest of Japanese Businessmen

In the past 3 years, approximately 25 Japanese auto parts manufacturers have moved to Mexico, Raul Urteaga Triani, Head of Mexico-Japan Economic Association Bureau in the Ministry of the Economy, declared. Part of this migration of Japanese companies to Mexico is from the United States to Mexico. As Maquila portal reported Triani saying, “Japanese companies which were previously manufacturing at states such as Michigan, Ohio or Illinois started moving their production to Mexico to be near the automobiles assemblers operating in Mexico."