Chinese auto brands saw nearly a 30% increase in sales in Mexico during the first half of the year, with their market share rising to 17%.

Foreign media: Despite Mexico imposing a 50% tariff on cars imported from Asian countries including China in January this year, sales of Chinese car brands in Mexico surged nearly 30% in the first half of the year, with their market share rising from 14% to 17%, reaching 137,525 units sold.

Guiterrez, Mexico's Deputy Minister of Foreign Trade, said the data is misleading, as Chinese companies had heavily pre-ordered inventory before the tariff took effect; actual imports of Chinese car brands in the first five months of this year have already declined by 43% year-on-year.

Chinese automakers have rapidly expanded their presence in the Mexican market, growing their share from less than 1% in 2020 to 17% this year, sparking concerns in the United States that Mexico could become a stepping stone for entering the U.S. market. Geely saw the fastest growth, while BYD, despite a slight decline in sales, still led with 33,969 units sold. Analysts believe Chinese automakers would rather absorb the tariff costs than lose market share.

Original article: toutiao.com/article/1871253716203532/

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