Chinese SUVs, pickup trucks disrupt Mexico's luxury car market
Date
12/29/2024 8:45:08 AM
(MENAFN) The rise in popularity of Chinese sport utility vehicles (SUVs) and pickup trucks has begun to disrupt Mexico’s luxury car market, affecting the sales of traditionally dominant brands like Mercedes-Benz and BMW.
Industry experts note that more Mexicans are shifting from traditional sedans to Chinese vehicles, attracted by their comfort, advanced technology, and competitive pricing.
This shift is significant, especially in a country that hosts foreign brands' factories, such as Audi and BMW, and where imported Chinese cars were once stigmatized, as in many other regions of the world.
According to the Mexican Association of Automotive Distributors (AMDA), sales in the high-end vehicle segment dropped by 8.1 percent from January to November.
Audi experienced a sharp 21.9 percent decline in sales, while BMW, including its Mini brand, showed no growth in Mexico, Latin America’s second-largest economy, with a population of 129 million.
Mercedes-Benz also faced a 9.8 percent sales decrease, as reported by the state-run statistics institute INEGI.
In contrast, Motornation, which sells Chinese brands BAIC, JMC, and Changan in Mexico, saw an 8.8 percent sales increase in the first 11 months of the year, and Jetour sales soared by 131 percent.
MENAFN29122024000045016755ID1109039372
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.