Prospects Of Increased Imports Prompts Mexican Automotive Industry To Seek Government Fiscal Reform

Prospects Of Increased Imports Prompts Mexican Automotive Industry To Seek Government Fiscal Reform – Brief Article

Executives from Mexico’s automotive sector asked the federal government to implement fiscal reforms in order to confront the entry of new car brands from Europe and Asia, due to the elimination of duties on new cars from countries with free trade agreements with Mexico.

DaimlerChrysler Mexico President Myels Briant said that in order to compete with the fiscal structure of developed countries, the Mexican government should eliminate the new car tax, a move that could compensate for with the value added tax and an increase in car sales by 30 thousand units per year.

The Mexican automobile industry also needs to be protected from illegally imported cars, and needs to develop new financing options and new trade-in plans, he told Mexico City daily el Economista.

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COPYRIGHT 2001 Gale Group