President Peña Nieto has announced three measures to consolidate Mexico’s position as a global power in the production and exportation of automobiles: (1) The resolution of a dispute with Argentina regarding economic Supplemental Agreement 55, which would reestablish trade in light vehicles between both countries according to the previously agreed to terms; (2) the establishment of a series of more rigorous and advanced regulations governing carbon dioxide emissions with the collaboration of industry representatives. With the application of Energy Efficiency Regulations that will enter into effect in 2014, it is estimated that Mexico will be able to save more than 95 billion liters of gasoline; and (3) on January 31, 2013 the renewal of the Decree regulating the definitive importation of used autos was published. With this regulation, Mexico can prevent used autos in poor mechanical conditions, or those that do not comply with environmental regulations, from being imported into the country.
