Businesses spend US$57.5 million more due to additional no drive day

Humberto Lozano, chairman of the National Chamber of Commerce, Services and Tourism (Canaco), said that the new restrictions imposed on vehicular traffic generate 990 million pesos (US$57.5 million) in additional expenditures for businesses, i.e. about 2.97 billion pesos (US$172.65) in three months.

From April 5 to 30, businesses reported a decline of 33 million pesos (US$1.91 million) per day in their profits due to the new No Drive Day program (Hoy No Circula).

This means they earned 767 million pesos (US$44.58) less during the period.

Lozano explained that business spend between 300 and 700 pesos (US$17 and 40) per day in additional transport or an extra working day.

If the measures announced by Mexico City government were extended for more than three months, about 80,000 family businesses that offer 160,000 jobs would be at risk, he added.