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Moving South: Why the Automobile Industry Crisis in the US is Good News for Mexico - December 2007 |
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 2007 will be remembered as a historic year for the global automotive industry. For the first time the US was displaced by Japan as the number one vehicle producer in the world, while a Japanese brand, Toyota, overtook GM as the world’s largest carmaker. For the first time in a decade, US car sales will slip below the 16 million mark in 2007, a drop of 1.3% over the previous year. The US continues to be the largest market for vehicle sales, but one that is shrinking, and with a recession looming vehicles sales are not expected to recover in the short term.
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