Economic Indicators11 hours ago (Jun 08, 2020 12:55PM ET)
MEXICO CITY (Reuters) – Mexican auto industry group AMIA expects auto output could fall between 28-30% in 2020 while exports may slide by 30-33%, the association’s chief executive Fausto Cuevas said on Monday.
Cuevas said it was “very likely” that all automakers would request alternative transition regimes in the new USMCA trade deal between Mexico, the United States and Canada, which is due to come into effect on July 1.
Miguel Elizalde, president of the Mexican association of heavy vehicle makers, ANPACT, said the group’s companies are focusing on complying with USMCA’s rules of origin regulations as paying tariffs could take them out of the market.
Mexican auto output, exports could fall by almost a third in 2020: AMIA
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