US: Miami auto show riding on Latin identity image

The Miami International Auto Show, held every November, is generally a localized and limited event, but the organizers are now mulling turning into a major event on the annual industry calendar.

The area could capitalize on the arrival of wealthy South Americans who flee unstable economies such as Argentina, Brazil, and Venezuela and come to the US for a safer lifestyle. And they tend to spend big on big item purchases such as a second home in the Miami area and luxury cars – Audis, Lamborghinis, Lotuses and Paganis. Just as the US is starting to establish new diplomatic relations with Cuba, Miami is turning into a potential hotbed for the auto industry. The show’s organizers want to make Miami the auto show for Latin America, putting it alongside the top ranks of North American events in Chicago, Detroit, Los Angeles and New York. Not long ago, the larger ambitions were signaled by the renaming to the Miami International Auto Show – from the previous South Florida International Auto Show moniker.

Miami also has natural advantages when serving both the US and Latin American industry: it’s very close to South America and is a major transportation hub, with an airport that links South America, Central America, the Caribbean, Europe and the Middle East. It also has an expanding port that is set to accommodate cargo ships transiting the expanded Panama Canal starting next year.

Via Automotive News