Suppliers Investments Add To The Outperformance View

New investment commitments from Denso Corporation and German tyre maker Continental's subsidiary Continental Tire the Americas (CTA) strengthen BMI's long-held view about the Mexican suppliers' base being a significant beneficiary of large-scale investments made by international carmakers, as well as our view that the country will be a significant outperformer in auto production growth in Latin America between 2011 and 2016. Our core scenario for Mexico envisages average growth in autos production of 8.6% year-on-year (y-o-y) between 2012 and 2016 - growing faster than the regional average of 7.6% y-o-y.

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