Americas

Mexico Claims Carmakers Want No Change to NAFTA Local Content Rule

May 23, 2017 at 12:30 AM

The head of Mexico’s auto industry trade group tells Reuters that carmakers in North America agree there should be no change in the North American Free Trade Agreement’s local content standard.

Mexico’s Auto Exports Jump 16%

May 08, 2017 at 5:23 PM

Mexico exported 228,800 vehicles in April, the Mexican Auto Industry Assn. reports.

GM to Take $100 Million Writeoff on Venezuelan Business

May 02, 2017 at 2:23 PM

General Motors Co. says it will book a charge of as much as $100 million after its assembly plant in Valencia, Venezuela, was seized last month.

Report: GM Has Fired 2,700 Employees in Venezuela

April 25, 2017 at 12:00 AM

General Motors Co. has fired 2,700 employees of its subsidiary in Venezuela and wired severance pay to their bank accounts, employees tell Reuters.

No NAFTA Update Likely Until Mid-2018?

April 24, 2017 at 3:11 PM

An updated version of the 23-year-old North American Free Trade Agreement isn’t likely until about July 2018, according to Thomas Donohue, CEO of the U.S. Chamber of Commerce.

Venezuela Car Market Shrank Below 300 Units in March

April 21, 2017 at 12:12 AM

Monthly vehicle sales in Venezuela, which peaked at 52,700 units in mid-2007, plummeted to fewer than 300 cars, trucks and buses last month, says industry group Camara Automotriz de Venezuela.

GM Abandons Venezuelan Operations

April 20, 2017 at 12:00 AM

General Motors Co. says it has abandoned operations in Venezuela after the government seized its local assembly plant and “illegally” confiscated other assets, including vehicles, on Tuesday.

China’s JAC Begins Car Assembly in Mexico

April 07, 2017 at 1:11 AM

Jianghuai Automobile Co. has begun assembling small crossovers in Hidalgo, Mexico, from kits imported from China.

Great Wall Motor Ponders Auto Plant in Mexico or U.S.

April 05, 2017 at 5:30 PM

China’s Great Wall Motor Co. is studying plans to build a North American assembly plant somewhere the U.S. or in either Nuevo Leon or San Luis Potosi, Mexico, sources tell Reuters.

Bentley Names New CEO for Americas

April 04, 2017 at 3:03 PM

Volkswagen AG’s Bentley Motors luxury car unit has named Mark Del Rosso to become CEO of its Americas operations, the brand’s largest market, effective May 1.

BMW Moves Ahead on Factory in Mexico, Hedges on U.K. Facilities

March 21, 2017 at 1:24 PM

BMW AG says is moving ahead with plans to open a $1 billion carmaking complex in San Luis Potosi, Mexico, in 2019.

Toyota Aims to Make Brazil an Export Base

March 17, 2017 at 12:00 AM

Toyota Motor Co. tells reporters in Brazil it intends to increase local content for vehicles it makes there and begin exporting them to more countries in Latin America.