As Mexico builds more expensive cars, imports flood its local market
In the first two months of the year, 66% of new light vehicles sold in Mexico were imports, which is the higher percentage ever recorded, says a new report by El Financiero based in figures by the National Institute of Statistics and Geography (Inegi).
This increase in imports, says the piece, is due to the fact that auto production in Mexico has been focused on vehicles of greater value, which are now unaffordable for the average car consumer in the country.
In the January-February period, 214,891 units were marketed in the country, of which 141,834 were assembled outside of Mexico, mainly in Asia.
According to the Inegi, in those first two months India was the main exporter of light cars to Mexico with 26,660 units, representing 18.7% of the total imported vehicles. Meanwhile, 24,483 vehicles were imported from Japan and 14,224 from China.
Automakers that import most vehicles from India are General Motors, Volkswagen and Ford, which bring in mainly subcompact cars.