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Mexico to Boost Auto Output 38% Within Three Years, Agency Says

Mexico will boost annual auto output by 1 million vehicles within three years, a 38 percent jump from last year, as foreign manufacturers use the country as an export base, said Carlos Guzman, head of the nation’s investment promotion agency.

Investments already announced by carmakers will allow Mexico, the world’s fourth-largest auto exporter, to increase annual production from last year’s 2.6 million units, Guzman, president of ProMexico, said in an interview yesterday at Bloomberg’s Mexico City office. Surging car and aerospace sales will help Mexican exports climb by about 15 percent this year to a record of around $400 billion, he said, surpassing a $350 billion high reached last year.