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MEXICO CITY Dec 9 Mexican automobile production dipped in November, but output is still on track to notch another record this year, the country's auto industry group said on Monday.
Output fell 3.5 percent in November to 255,695 vehicles compared to the same month last year, the Mexican Auto Industry Association (AMIA) said. Exports rose 2.3 percent in the month to 224,874 versus November 2012.
AMIA president Eduardo Solis said production should reach between 2.95 million to 3 million cars and light trucks this year, up from nearly 2.9 million in last year.
After a slump in 2009 amid a deep recession after the global credit crisis, Mexican automakers have been clocking successive record years as global automakers expand factories in Latin America's No. 2 economy.
Vehicles and auto parts make up around one-fifth of Mexico's manufactured exports, one of the main pillars of the economy. The economy saw a sharp slowdown this year amid wavering U.S. demand but growth picked up in the third quarter.
WASHINGTON, June 28 U.S. securities regulators on Wednesday filed civil accounting fraud charges against Canada-based oil and gas company Penn West Petroleum Ltd and several of its former top finance executives.