industry

Mexico’s president revs up car industry, and wider economy

By Anthony Esposito, Daina Beth Solomon and Sharay Angulo

MEXICO CITY, May 13 (Reuters) – President Andres Manuel Lopez Obrador will lay out a roadmap on Wednesday for Mexico to re-open its economy, with a focus on the automotive sector whose supply chains are closely interwoven with U.S. carmakers.

The U.S. government and automotive companies have called on Mexico to reopen factories serving the U.S. market, despite the Latin American nation still dealing with a rising number of infections from the coronavirus pandemic. Mexico on Tuesday registered 353 coronavirus deaths in its most lethal day yet.

Mexico sends 80% of its exports to the U.S. and became the United States’ biggest trade partner last year, with bilateral commerce worth over $600 billion.

Lopez Obrador has been eager to get Mexico’s businesses firing again amid forecasts the economy could contract by as much as 10% in 2020, plunging the country into

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Coronavirus slashes UK car output as industry warns of big hit

By Costas Pitas

LONDON, April 30 (Reuters) – The British car industry faces losing output worth more than 8 billion pounds ($10 billion) due to the coronavirus outbreak, which cut production in March by a third, falling to its lowest level since 2009, an industry body said on Thursday.

The sector, Britain’s biggest exporter of goods which employs more than 800,000 people, saw factories and dealerships begin to close from mid March with only some having set reopening dates for May.

Automakers around the world have warned of the scale of the challenge affecting manufacturers already struggling to deal with tougher emissions rules, the hit to diesel sales and the cost of electrification and autonomous technology.

In Britain, volumes fell by an annual 37.6% to 78,767 vehicles in March and the sector, which made 1.3 million cars last year, faces a loss of more than 250,000 cars and vans, the

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