The Government of Mexico granted in the last two years incentives to manufacturers of televisions and motorcycles, reported the Presidency of the Republic.
Basically, the Global Supply Chains Program for television and motorcycle manufacturers in Mexico promoted tariff incentives through the Eighth Rule mechanism.
From September 2020 to June 2021, two motorcycle and ATV production companies and five television manufacturers were registered, which reported the following results:
- The manufacture of 383,126 vehicles and purchases of supplies from twenty national suppliers for 103 million pesos.
- The manufacture of 7 million 043,825 televisions, and purchases of supplies from 41 suppliers installed in Mexico for 23,075 million pesos and the own manufacture of parts and components for 14,668 million pesos.
Derived from the suspension of productive activities due to the Covid-19 pandemic, the economic reactivation actions gave priority to the health of the population.
With this principle, those whose suspension could have irreversible effects for their continuation were determined as essential activities, among them, the manufacture of transport equipment such as automotive, auto parts and aeronautics, as well as construction and mining.
According to the National Council of the Maquiladora and Export Manufacturing Industry (Index), many American families increased their purchases of durable goods with the resources they obtained from the stimulus package promoted by President Joe Biden, such as televisions, refrigerators and computers, merchandise in which Mexico is competitive.
In general, during the second quarter of the year, economic activity in Mexico accelerated its pace of recovery.
However, heterogeneity prevailed between the different productive sectors.
Progress in the vaccination process has already allowed the recovery of services, while secondary activities have slowed down, particularly construction and manufacturing.
In the latter, the scarcity of supplies and logistics problems stand out, especially in the automotive sector.
Banxico expects the gradual recovery to continue during the rest of the year, although uncertainty persists about the evolution of the pandemic and its effects on the economy.