LatinNews Daily - 07 August 2018

* Mexico’s automobile industry association (Amia) has reported that auto sector production fell by 3.7% in July to 291,577 units. According to Amia, the monthly fall in production was primarily due to the flooding that affected Honda’s production plant located in the city of Celaya, Guanajuato state, that month. The Celaya plant was flooded after the Laja River broke its banks on 28 June and led to an 85% fall in production at the plant. However, Amia also noted that other manufacturers such as Nissan, Ford, Audi, and Kia also reported falls in production in line with lower demand. Pointedly Amia director general, Fausto Cuevas, said that Mexico’s auto sector is currently “adjusting” to lower demand from the US, with Mexican automobile exports falling by 3.4% year-on-year to 1.36m in July. The July figures bring production figures for the first half of the year to 2.24m units, 11.5% less than in the same period of 2017.   

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