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TLA Times | Sep. 02, 2020

  ARGENTINA  

Mexican used-car startup  plans to enter market in Argentina

Kavak is expanding from Mexico into Argentina in a merger with another used-car company, Checkars, Reuters reports via the Journal Pioneer. Kavak CEO Carlos Garcia revealed the plans in an interview with the wire service. Kavak’s sales had dropped 28% in April but recovered by June. Garcia says the merger will allow Kavak to serve budget-conscious shoppers. “Now with the pandemic, economics are more important for customers than ever,” Garcia says. Details


  BRAZIL  

Virtual care provider expands services to Brazil

British-based Physitrack, a virtual care provider, is launching in Brazil, Business Wire reports. Amazon Web Services has made a substantial investment in its hosting infrastructure in Brazil. Physitrack translated and localized its Portuguese version of its interface. Physitrack is available in 102 countries. Details


  MEXICO  

Demand for diesel, gasoline bounces back as industry recovers

Diesel and gasoline demand have been on the rebound for the past several months, S&P Global reports. According to data from the government, demand had moved up by the middle of last month, though still 12% below the previous year. However, that is 58% above April’s low. Mexican residents are resuming their activities and industrial operations had recovered 80% since April’s low-point. Details

Apple partner looks to Mexico for new factories

Apple partner Foxconn and another Taiwan-based manufacturer, Pegatron, are looking to build factories in Mexico, Reuters reports via Fox Business. The drivers behind the moves are the U.S.-China trade war and the COVID-19 outbreak, which is prompting many companies to take a hard look at their supply chains. Foxconn already has five factories in Mexico. Details

 

Other Asian companies look to Mexico for opportunity

The Yucatan Times reports that not only is Foxconn looking to expand manufacturing operations in Mexico, but other companies, such as China’s Luxshare Precision Industry Co., are as well. Mexico is one of the ideal countries for companies to reconsider their readjustment, their supply chain,” the Economic and Cultural Office of Taipei’s Armando Cheng says. Samuel Campos, of the real estate brokerage Newmark Knight Frank, said his company is working with two Chinese companies, one in the automotive sector and the other in manufacturing, on finding sites in Mexico. Details


 

  FUN IN THE SUN  

Xcaret offers attractions amid Mayan jungle

Set in the Mayan jungle, Xcaret is a theme park like no other. It offers an underground river, archaeological sites, historic churches, a zip line and musical performances. It is close to Mayan ruins and resorts in Cancun. Details

 

  SNAPSHOT  
GDP pct. growth in El Salvador









 

 

Source: data.worldbank.org

  EXCHANGE RATE  
Currency | Per US Dollar

 

 

 

 

 

 

 

 

Figures from Sep. 02, Source: www.xe.com

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