Renault increases stake
Renault SA is taking a majority stake in its Colombian joint venture, Sofasa. The French automaker, which had held 23.7 percent of the company, will hold 60 percent when the deal is finalized. Former majority owner Valores Bavaria is selling its stake to Renault and other partners, Toyota Motor Corp. and Mitsui. The deal also increases " />

Issue: Dec 2002


International Trends



by Andrea Wielgat

Renault increases stake
Renault SA is taking a majority stake in its Colombian joint venture, Sofasa. The French automaker, which had held 23.7 percent of the company, will hold 60 percent when the deal is finalized. Former majority owner Valores Bavaria is selling its stake to Renault and other partners, Toyota Motor Corp. and Mitsui. The deal also increases Toyotas stake to 28 percent and Mitsuis stake to 12 percent. Sofasa builds Renault passenger cars and Toyota light commercial vehicles at a rate of 44,000 vehicles each year.


South Africa extends tariff-cut plan
The government of South Africa is extending its plan to cut tariffs on imported cars and trucks. The Motor Industry Development Program started in 1995 as a way to open up the auto industry. It was expected to conclude in 2007 but will now end in 2012. As part of the plan, light vehicle duties will drop from todays 40 percent to 30 percent in 2007 and to 25 percent by 2012.


VW ups capacity in China
Volkswagen AG will raise capacity levels at its FAW-Volkswagen joint venture in China by 50 percent. Production of Bora and Jetta cars at the plant will jump from 200,000 cars this year to 300,000 vehicles next year. The move is in response to estimates that new car demand will grow 20 to 30 percent in the next year. VW also says it will invest $600 million each year in China until 2007.

Mexico production















November 2001

 163,056
November 2002  141,379
November 2001 exports  122,140
November 2002 exports  107,277









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