(Bloomberg) Blame it on Nafta. Japan has ranked among the top two auto exporters to the U.S. since the 1970s, shipping Toyotas, Hondas and Nissans more than 5,000 miles across the Pacific.
The Asian nation is poised to be eclipsed this year by Mexico, which as recently as 1990 sent fewer than a quarter of a million vehicles across its northern border. Mexico’s tally will reach 1.9 million in 2015, topping Canada as the biggest exporter of cars to the world’s largest economy, consultant IHS Automotive estimated. U.S. light-vehicle sales rose 0.4 percent in January, figures released Feb. 3 are projected to show.
Mexican auto exports to the U.S. more than quadrupled from 1993 to 2013 as output almost tripled, buoyed by lower tariffs under the North American Free Trade Agreement. Three plant openings in four months -- by Nissan Motor Co., Honda Motor Co. and Mazda Motor Corp. -- will supply the final push for Mexico’s leap past Japan, which as recently as 2008 shipped almost twice as many cars to U.S. consumers.
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