Mexico. Estimates for 2020 indicate that Mexico would become the fifth largest producer of vehicles in the world, according to a report published by BBVA Bancomer, a fact that benefits the automotive paints and coatings sector.
The report called "Regional Sectoral Situation Mexico", says that the local industry could grow in this year 2015 around 10.8%, due to the recovery of the United States and the low price of gasoline in that country. In the United States, on the other hand, automotive demand grew at rates of 12.8% in results obtained until May of this year.
For the coming years, Mexico has planned the construction of five new plants, which will increase the country's production by 1 million units.
Currently, the North American country occupies the seventh place of maximum vehicle producers, currently has the capacity to produce 3.7 million units, and it is expected that in 2020 they will reach 5 million units.
"Today, the (automotive) industry participates with 3.3% of GDP; this share represents an increase of more than 60% compared to 2.1% in 2008," said Alma Martínez Morales, economist at BBVA Bancomer.
With information from www.eleconomista.com.mx
