
May 2023 US/MX Cross-Border Update
While the U.S. market remains shaky, nearshoring of manufacturing to Mexico will continue to boost cross-border freight flows in North America. We expect the cross-border market to be stronger during the second quarter compared to domestic trucking in the US. Mexico has been experiencing a nearshoring boom and expansion of foreign companies in the market, led by Texas-based automaker Tesla’s plan to build a $5B electric vehicle factory near the Mexican city of Monterrey.