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Discussion Starter · #1 ·
First Automobile Works will install in the environs of mexican city of Morelia, Michoacán, in an coinvestment of about 200 million dollars with mexican tycoon Ricardo Salinas Pliego, to produce compact and subcompact vehicles that will commercialize in the network Elektra in charge of Carlos Septién, first in Mexico and after in Centro and South America.

Felipe Calderón, President of Mexico, will place the first stone this next Thursday November 22nd.

An official notice of the mark announcing its arrival to Mexico is expected shortly.

FAW will take advantage of the network 1.300 Elektra stores pertaining to the Group Salinas and of course the aggressive plans of financing of the Banco Azteca.

You can read the full note in spanish at autocosmos.com.mx
 

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Discussion Starter · #7 ·
FAW starts selling cars in Mexico

Five models of Faw are available for mexican market.
Yesterday Grupo Salinas presented F1 sedan and hatchback (vita N3) F4 (maybe vita A series, there are no front images available yet) and F5 (vita C1) sedan and hatchback.
Prices were also revelaed
F1 hatchback from $69,900.00 (mexican pesos) about $6,350.00 US
F1 sedan from $79,900.00 (mexican pesos) about $7260.00 US
F4 sedan from $89,900.00 (mexican pesos) about $8,170.00 US
F5 hatchback $104,900.00 (mexican pesos) about $9,530.00 US
F5 sedan $114,900.00 (mexican pesos) about $10,400.00 US
The dealer network will be revelated soon but first dealer will be placed in Mexico City.
You can see the models at the website fawmexico.com
 

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Discussion Starter · #12 ·
FAW's Mexican factory canceled.

According with mexican cars website autocosmos the building of the factory was cancelled, up next the full aticle translated:

Chinese auto brand FAW and Grupo Salinas had cancel ensambly plant project in Michoacan due financial crisis.
In november 2007, the first stone of the facility was put by Mexico's President and FAW representatives. Such facility was a joint venture with Mexcian Grupo Salinas (Salinas Group) for the comercialization of the cars at Elektra stores network.
Since November 2007 to the date poeple from Zinapecuaro informed even that first stone was removed and there was no intidiation ir intntion to build. Everything indicates that Salinas Group observed the cars were not wht they expected as brand and the sales in "smal payments" didn't work, besides entry models quality didn't fit mexican buyer expectations.


Is far to say that Salinas Group take some wrong steps:
a) They never lended cars to specializaed press, wich give the impression that the cars were so bad that they didn't want anyone to test them.
b) No FAW dealer were open in Mexico city (biggest car market in the country) only a few Elektra stores had cars to show.
c) No FAW mechanical shops were stablished, cars service would be provided by a third party whom didn't have a broad network nationwide.
d) Potential buyers had just two choices to buy, cash or a loan provides exclusively by Salinas bank "Banco Azteca"
e) The only insurance option was provided by (you guess) Salinas own insurance company "Seguros Azteca"

All those factors sealed FAW's faith in Mexico.

You can read the full article in spanish at the next link http://www.autocosmos.com.mx/notici...lanta-de-faw-en-mexico-ha-sido-cancelada.aspx
 

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Discussion Starter · #14 · (Edited)
FAW about to lose permission to import cars to Mexico

Mexico's automobile bill demands any automaker from a country with no Free trade agreement to build a factory in MExico with a minimun investment of $150,000,000 UDS and a minimum production of 100,000 cars by year within 3 years.
Since FAW stoped its auto plant construction and has no plans to restart is violating the bill.
Today mexican finantial website CNNEXPANSION publishes declarations of Mexican heavy industry and high technology director Adalberto González (an office from Mexican Economy Ministery) who says Mexican government is studying the possibility of cancell FAW's permission to import cars. Closing the first chinese autobrand stablished in NAFTA area, the report has no conclusive information, also says nothing about import autoparts for the existing cars.
http://www.cnnexpansion.com/negocios/2009/07/15/gobierno-evalua-quitar-permiso-a-salinas
 
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