Printer Friendly

U.S. AUTO INDUSTRY LOSES JOBS TO MEXICO, AUTOMOTIVE INDUSTRIES REPORTS

 DETROIT, March 10 /PRNewswire/ -- The U.S. auto industry had a net loss of about 11,500 jobs to Mexico in the last five years. Moreover, the U.S. automotive trade deficit with Mexico exceeded $800 million for the first 11 months of 1992, and has averaged $600 million a year since 1986, Automotive Industries magazine reports in its March issue.
 Total exports of U.S.-made vehicles to Mexico were fewer than 20,000 units last year -- about one month's production from one assembly plant. Even so, AI also reports that trade with Mexico in auto parts has grown by 600 percent in the same time frame, reaching nearly $4.0 billion last year. This has been a boon for U.S. automotive suppliers and has benefited states that make high value-added auto parts. Michigan, for example, exported $1.1 billion worth of goods to Mexico last year, which is twice what it exported to either Japan or Germany.
 AI also learned that the Big Three plan to use their assembly plants in Mexico primarily to satisfy demand in the burgeoning Mexican market, not as low-wage assembly points for export to the U.S.
 -0- 3/10/93
 /CONTACT: John McElroy, editor in chief, or Christopher A. Sawyer, senior editor, Automotive Industries, 313-875-2090/


CO: Automotive Industries ST: Michigan IN: AUT SU: ECO

SM -- DE017 -- 4872 03/10/93 18:07 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 10, 1993
Words:232
Previous Article:APPLE USA NAMES MARYANN KARINCH PR MANAGER, FEDERAL SYSTEMS GROUP
Next Article:DELTONA REPORTS INCOME OF $7.3 MILLION
Topics:


Related Articles
MONSANTO CHEMICAL ANNOUNCES INCENTIVE PROGRAM TO SPUR NORTH AMERICAN AUTOMOTIVE INDUSTRY
SMITHERS FORECASTING TIRE, RUBBER, AUTOMOTIVE INDUSTRIES
STATEMENT BY AAMA PRESIDENT IN SUPPORT OF NAFTA
AUTO EXECS POSITIVE ON FUTURE OF CAR INDUSTRY
The fast lane: car buyers benefit from increased competition. (Special Report).
MEMA Applauds Sen. Alexander's Call for Steel Tariff Repeal.
Automakers Provide More Jobs in Supplier and Related Industries Than in Direct Manufacturing, New Study Shows.
Mexican auto industry recovers: as vehicle production in Mexico heats up, the market for paint and coatings is poised for positive growth.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters