The Demand for Automobiles in Mexico Before and after the 2008 Economic Crisis

Maria Lourdes Alvarez Medina

Chapter 11 in Global Automobile Demand, 2015, pp 90-112 from Palgrave Macmillan

Abstract: Abstract The Mexican automobile industry, once an important carrier of the Mexican growth strategy, based on import substitution has become an export platform after the North American Free Trade Agreement was signed in 1994 (Bennett and Sharpe, 1984; Duran et al., 1997). From then to 2012, its production was multiplied almost three times, going from 1.09 to 2.88 million units. However, this tremendous growth reflects a high dependence on exports to the US market. In fact, the Mexican automotive industry is divided in two segments: One, by far the most important, which serves the US market, and another – much smaller – geared to the domestic market. In this context, it is no wonder that the industry was severely hit by the American subprime crisis, which erupted in 2008.

Keywords: Gross Domestic Product; Minimum Wage; Credit Card; Commercial Bank; Gini Index (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-51617-6_5

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DOI: 10.1057/9781137516176_5

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