Mexico Grows Rapidly as a Major Automotive Maker and Exporter, Business and Industry Trends Analysis

Over the past several years, Mexico has grown to become a major producer and exporter of cars, trucks and other vehicles.  Mexico’s economic growth is expected to continue over the mid-term, fueled by its relatively young population (between 2000 and 2030, Boston Consulting Group expects the labor force there to grow by 18%, while China’s will fall by 3%).  Manufacturing wages are relatively low, at about $2.60 per hour as of May 2019.  (Proposed changes to the NAFTA trade agreement with the U.S. and Canada may cause wages to rise substantially.)  Mexico is home to a variety of advanced manufacturing…

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