ANNOUNCEMENT 26 Mar 2015In March 2015, the government of Mexico announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
Secretariat of Environment and Natural Resources (SEMARANT), 'Se actualiza Programa de Renovaci?n de Veh?culos de carga y de pasaje del Gobierno Federal' 'press release no. 63': http://saladeprensa.semarnat.gob.mx/index.php/noticias/2120-se-actualiza-programa-de-renovacion-de-vehiculos-de-carga-y-de-pasaje-del-gobierno-federal
Miriam Posada Garc?a, 25 March 2015, 'Dar?n est?mulos fiscales para renovar veh?culos de carga y pasaje', Peri?dico La Jornada: http://www.jornada.unam.mx/2015/03/25/economia/032n1eco
DECRETO por el que se fomenta la renovaci?n del parque vehicular del autotransporte, published in the Official Gazette of 26 March 2015: http://www.dof.gob.mx/nota_detalle.php?codigo=5386771&fecha=26/03/2015
Organizaci?n Editorial Mexicana (OEM), 24 March 2015, 'Se actualiza el programa de renovaci?n de veh?culos de carga y de pasaje: SCT': http://www.oem.com.mx/laprensa/notas/n3749512.htm#sthash.G9I35GCc.dpufhttp://www.oem.com.mx/laprensa/notas/n3749512.htm
Jos? de Jes?s Guadarrama, 24 March 2015, 'SCT incentivar? la renovaci?n de veh?culos de carga y pasaje', Dinero en Imagen: http://www.dineroenimagen.com/2015-03-24/52962
Karina Hern?ndez Mundo, 24 March 2015, 'Lanza SCT plan para renovar flota de hombres-cami?n', El Economista: http://eleconomista.com.mx/industrias/2015/03/24/lanza-sct-plan-renovar-flota-hombres-camion
On 26 March 2015, the government reintroduced a program which allows transport vehicles that are older than 10 years to be exchanged for newer ones. The measure is directed at cargo trucks and buses of which at least 50% have to belong to small transport providers, so called 'hombres camión'. The guarantees will be provided by the National Development Bank (Nafin) at an interest rate of 10 to 15 per cent.
The policy is preceded by a similar measure, which lasted from 2004 to 2014 but resulted in few vehicles being scrapped, i.e., about 3'750 per year. The new scheme differs from its predecessor in a few points: The monetary support is about 55.5%-81.3% higher and is adjusted annually to inflation, 6'000 vehicles are expected to be scrapped per year, and it introduces the option to exchange two old vehicles for one new one.
The government argues that the scheme will improve road security, reduce gas emissions and increase the competitiveness of the automobile sector. It is effective from 27 March 2015 until 31 December 2016 with possibility of extension.
In a separate decree, Mexico also introduced local content requirements for the renewal of vehicles. For this, please, consult measure no. 9517 under Related Measures.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.