Word: auto
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Dates: during 2000-2009
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...January 1994. The lion's share of $200 billion of foreign investment that has rolled in since then--two-thirds from the U.S.--went to the north, both to maquiladora assembly operations in border towns and to Monterrey and nearby Saltillo, also known as Little Detroit for the sizable auto investments there, especially by the U.S.'s Big Three. Thirty percent of Mexico's GDP comes from manufactured exports, 80% of that auto related, and the U.S. accounts for 60% of that...
Grupo Industrial Saltillo, with eight business units, shows the link and how NAFTA's market access is accelerating this corporation's global evolution. More than half its roughly $1 billion in sales last year went to the U.S., Canada, Japan and Australia, and 84% was auto parts. That will expand when a $136 million engine factory, a joint venture with Caterpillar, opens next year. Saltillo's building-products division, on the other hand, is 90% dependent on the domestic market. Within five years, this proportion is projected to be evenly split between domestic and foreign sales, a feat that...
...bank accounts or insurance, so the potential market is enormous. In the retail sector, dominant state-owned companies and small-shop owners alike are certain to feel the pinch as foreign chains launch offensives. "It's going to change very quickly," Pincus says. "Big supermarkets, big restaurant chains, big auto-repair shops will come in and offer better service?and customers will flock to them...
...hottest seats in European business these days are in the auto industry. Last week, Volkswagen, Peugeot and Fiat all announced that they're trading in their chief executives. That leaves just highly profitable Porsche as the only significant European auto firm not to have switched bosses in the past 18 months. The turnover reflects upheaval in the industry worldwide as firms not only jostle to take advantage of new markets in Asia and elsewhere, but also struggle with unrelenting cost pressures at home. The big surprise came at VW. Bernd Pischetsrieder had just signed a new contract...
...ethanol-powered flex-fuel cars this week. And his market-centric approach may find an ally in Michigan's John Dingell, the Democrat who will be in charge of the House Energy and Commerce Committee. Unlike many of his party colleagues, Dingell, a friend of his state's auto industry, is against mandating higher fuel-efficiency standards for carmakers...