MEXICO: Volkswagen Mexican production seen down 10% in 2003
The Spanish News Digest reports that Volkswagen Mexico expects to close 2003 with output of 300,000 units, a 10% drop on the previous year.
The expected fall in production is mainly due to the drop in exports to the United States - around 80% of Volkswagen Mexico's production is allocated for export to the US.
VW Mexico is eyeing potential new export markets with the aim of reducing dependence on US exports.
The plant in Mexico will begin production of trucks in 2004. Volkswagen plans to invest some $2.0 bln (1.7 bln euro) in Mexico from 2004 to 2009, the report said.