China has positioned itself as the main car supplier in Mexico, with exports reaching $4.6 billion in 2023, according to data from Mexico’s Secretariat of Economy.
The Chinese automaker BYD surpassed Honda and Nissan to position itself as the seventh largest automaker in the world by number of units sold during the April to June quarter. This growth was driven by increased demand for its affordable electric vehicles, according to data from automakers and research firm MarkLines.
The company’s new vehicle sales rose 40 percent year over year to 980,000 units in the quarter—the same quarter wherein most major automakers, including Toyota and Volkswagen, experienced a decline in sales. Much of BYD’s growth is attributed to its overseas sales, which nearly tripled in the past year to 105,000 units. Now BYD is considering locating its new auto plant in three Mexican states: Durango, Jalisco, and Nuevo Leon.
Foreign investment would be an economic boost for Mexico. The company has claimed that a plant there would create about 10,000 jobs. A Tesla competitor, BYD markets its Dolphin Mini model in Mexico for about 398,800 pesos—about $21,300 dollars—a little more than half the price of the cheapest Tesla model.
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That tariff-free access is part of the US-Mexico-Canada Agreement (T-MEC), an updated version of the North American Free Trade Agreement that, as of 2018, eliminated tariffs on many products traded between the North American countries. Under the treaty, if a foreign automotive company that manufactures vehicles in Canada or Mexico can demonstrate that the materials used are locally sourced, its products can be exported to the United States virtually duty-free.
MAGA strikes again
Mitsubishi sold 87,000 vehicles in 2023 only 13,000 were mirages. Kia sold 782,000, 27,000 were rios. Nissian sold 235,000, 4,000 were versas.
In Europe the dacia sold 493,000, 200,000 were sanderos. Those are the numbers needed to make cheap compact cars.
Its an example of the type of car I think would sell well if an american car company made it.
There is no comparison vehicle by american brands at the moment.
Renault could import the Dacia Sandero and have its msrp be $1000 less than the versa after terrifs. With that kind of price advantage you’d think they would but there’s been no effort on their part. The US market for cheap vehicles is too small.
I don’t have an issue myself but I think. the average american wants to buy from one of the american brands, even the one thats not american anymore.
I don’t think Americans trust dirt cheap foreign goods just yet. Harder to find the right person to yell at you know, or whatever.
