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Continental adapts to USMCA, balances safety and reopening post COVID-19

Cons. Discr. - Autos 1057 Coronavirus 485 Mexico 803 Quote Watch 376

Continental plans to close its factory at Nogales, Mexico as the auto-parts maker goes through a widespread restructuring in part as a response to USMCA’s new rules. There had been a steady increase in exports linked to Continental from Mexico with an 11.9% surge in 2019 being followed by a 19.4% increase in Q1. The firm’s recovery after COVID-19 linked closures has also been faster than its peers with a 34.6% year over year drop in shipments in June compared to 45.4% for total auto-parts exports. Of the top 10 exporters from Mexico only ZF Friedrichshafen did better with shipments down ...

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