The Mexican automotive industry is preparing for the changes that could come with the administration of President Donald Trump. Executives from automotive companies in Mexico, whose main market is the U.S., have been outlining strategies since last year. Although the negotiations of the USMCA did not halt vehicle production in Mexico, a tougher impact is now expected with Trump's stricter stance. Marcelo Ebrard, Secretary of Economy, has focused on thoroughly understanding the processes and reaching out to those with key information.
Significant changes have occurred in some of the major automotive companies in Mexico. Toyota has seen the departure of Luis Lozano, who will continue advising on regulatory policy issues, and has welcomed Iván Espinosa. The industry faces possible tariffs starting in April, which would affect production and increase vehicle prices. Despite this, the rising costs could benefit banks and financial institutions by offering longer terms for purchasing vehicles.
The automotive industry is vital for Mexico, contributing significantly to GDP and manufacturing value added. If tariffs are imposed, it could pressure hundreds of related companies and families, given the large number of direct employees. Convincing President Trump to find a favorable agreement will be a challenge, considering that the automotive industry is one of the largest sources of income, surpassing remittances and tourism combined.
In the sports arena, banks are venturing into sponsorship of football teams. Banorte succeeded in having the Estadio Azteca named after it, following the trend of other banks in different stadiums across the country. Grupo Ollamani closed a deal with a bank for the modernization of the stadium, generating positive expectations for the company. In Mexican football, various teams already have backing from banking entities, consolidating a growing relationship between banking and this sport.
The Gala Azul of Fundación Coppel brought together entrepreneurs, academics, and members of civil society to highlight the work done in the Sea of Cortés. Grupo Coppel has significantly contributed to the care and preservation of this area, promoting sustainable development and the protection of marine wildlife. Emilio Azcárraga Jean and Agustín Coppel Luken, among other prominent leaders, are committed to this goal and have celebrated positive results in the initiatives implemented in the Gulf of California region.
Six Flags Mexico has begun celebrations for its 25th anniversary with a "Spring Celebration" that includes parades and shows, marking the start of a special season to attract more visitors. This event was led by executives from Six Flags Corporation, anticipating months filled with festive activities in the Mexican theme park.
