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Article: Mexico's second-half push: facing slow growth and stalled reforms, President Vicente Fox must buckle down to save his administration.(Consensus Forecast)
- Article from:
- Revista Latin Trade
- Article date:
- October 1, 2003
- Author:
CopyrightCOPYRIGHT 2003 Freedom Magazines, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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More evidence that the economies of Mexico and the United States are closer than ever: Car buyers enjoying zero-percent interest rates at dealerships kept auto sales--if not necessarily production--afloat on both sides of the Rio Bravo.
Interest rates in Mexico have dropped to historic levels, hitting 4.3% on 28-day government bonds at the beginning of August 2003. Car sales, meanwhile, defied sluggish growth in the first three years of the millennium, rising by 9.7% in 2001 and 6.4% last year when 977,558 vehicles were sold, according to the Mexican Auto Industry Association. Figures for the first half of 2003 indicate car sales will top the million mark this ...