Automotive sector to invest in Nuevo Leon

Category: News
Published: 2015-03-06

After the arrival of Kia Motors to Nuevo Leon, with a US$3.31 million investment in 2014, companies operating in the State will invest US$2 billion this year to grow and potentially meet the requirements of the Nissan, Mazda and Honda plants.

Manuel Montoya, CEO of the Nuevo Leon´s Automotive Cluster (Claut), stated that U.S. sales are one of the main factors behind the growth of the local automotive industry. Last year, 16.5 million cars were sold, and for 2015, sales are expected to reach 17 million cars. Added to this, domestic market vehicle sales are increasing; last year more than 1.1 million of vehicles were sold. The great challenge and opportunity for the country, is the formation of Tier 2 companies, since plants of Nissan, Honda and Mazda gradually seek to integrate more local content, said Mr. Montoya. Recently, Celina Villarreal Cardenas, Secretary of Economic Development, estimated that US$5 billion FDI could be captured in the State by July or August 2015.


Source: El Economista