Bankruptcy

Mexico: Mastretta is Out of the Game

The first Mexican sports car is also the last, for now.

Mastretta Cars, the Mexican company responsible formanufacturing the MXT, has reportedly halted production of its sports car untilfurther notice, and may well be out of business. The company, which bonded theMastretta family with business partners like Corporacion Mexicana deInversiones de Capital and Mexico ventures, apparently suffered from “a clumsy,irresponsible and negligent management,” according to statements made by company directors in the official pressrelease.

The management allegedly “used up in only eight months allthe resources provided without meeting any of the objectives they werecompromised to,” leading to this unfortunate end. The MXT was supposedto become Mexico's first sports car, and was designated to be powered by theFord Focus ST’s 2.0-liter turbo four. However, as company chiefs stated intheir press release, "we tried until the end, we couldn't help it."

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