AUTOMOTIVE

AMERICAS: Positive News for Latin America Automotive Markets

Positive news from the region as both Argentina and Brazil report strong growth in vehicle manufacturing. Adefa, the Argentinian National Automakers' Federation, reported that Q1 production grew 23.8% to 77,203 units compared with the same period last year. In Brazil production in March was boosted by strong domestic demand fuelled by falling interest rates and grew 12.3% compared with February 2006. Mexico's exports of trucks and buses rose almost 50% in March; 86% of the 4,188 vehicles were exported to the USA.

Ford plans to restructure its executive ranks in Latin America and Canada.

Continental AG have officially opened their new plant in Brazil whilst General Motors have announced that they will invest almost $650m in a new plant in Mexico and Daimler Chrysler will spend approximately $1bn upgrading their assembly site in Toluca, Mexico.

Prime-Tass reports that Russian automaker Gaz is considering assembling its mid-sized Gazel trucks and vans in Brazil and General Motors do Brazil is negotiating the export of the Brazilian made Chevrolet Vectra to central Europe.