Ford Motor Company Plans to Double Vehicle Production in Mexico.
Mexico: As a strategic initiative to
increase its vehicle production capacity in Mexico, the automobile giant Ford
Motor Company is planning to expand its production at Cuautitlan plant, in
addition to establishing a new vehicle assembly plant in San Luis Potosi, Mexico
It is anticipated that the company will increase its
production capacity by 500,000 units per year. Further, the San Luis Potosi
plant is anticipated to manufacture around 350,000 vehicles per annum. The
Company has plans to launch its hybrid vehicle C240 to compete with Toyota’s
Prius in Mexico passenger car market.
Moreover, the company has
been planning to shift the production of its two hatchback cars viz. Focus and
C-Max to Mexico from Michigan by 2018. Apart from the hatchback cars, the
company is also planning to consolidate the production of its sedan segment car
viz. Fusion in Mexico from Michigan.
According to a recently
published TechSci Research report, Mexico
Tyre Market,
Forecast & Opportunity, 2020, Mexico
tyre market is anticipated to attain new heights backed by immense support from
the increasing vehicle production, which would further enhance the OEM tyre
market, which accounted for around 40% of the tyre market in Mexico in 2014.
Amongst various tyre brands
available in the country, Pirelli, Bridgestone, Continental, Cooper and JK
Tornel have their production facilities in Mexico. However, Michelin, Yokohama,
Sumitomo, Goodyear, Falken, Hankook and Kumho Tires are few of the other
prominent tyre brands being sold in Mexico tyre market. It is projected that Ford’s
strategic plan to expand vehicle production and shift in vehicle production
base from Michigan to Mexico would significantly support the Mexico OEM tyre
market.