On March 19th, the Chinese Economic and Commercial Counsellor's Office in Mexico quoted the above-mentioned report from the Mexican media. Last year, China was the ninth largest destination for Mexican auto exports. In the past two months, China surpassed Mexico's Latin American neighbors Argentina and Colombia to become the fifth largest destination for Mexican auto exports.
As the world's fourth largest auto export market, is there enough car brands in Mexico to impress Chinese consumers? Not really.
Mexico's abundance of cars is not based on "national brands," but attracts the world's most important auto giants. A Mexican diplomat said that at present, the top nine of the world's top ten car companies are investing in Mexico. In the past year or two, the annual production of Mexican cars is expected to reach 4 million, of which 3/4 will be used for export.
In other words, the "Made in Mexico" car is actually only the "Mercedes and BMWs" assembled and exported in Mexico.
Mexico is the second largest economy in Latin America after Brazil. The first destination for automobile exports is the United States, accounting for 72.3% of total exports. For China, from 2011 to now, the demand for Mexican exports to the Chinese market has increased fivefold.
The above-mentioned Mexican officials likened their country to "New Detroit". In view of the "high price" labor force in Germany and Japan, many automobile powers have transferred their production capacity in the country or in Europe and America to Mexico. This is similar to Brazil.
Mexico, which is growing in size, is not satisfied with auto exports, and officials in the country are sparing no effort to attract Chinese companies to invest in the country’s auto industry. The governor of Mexico's economically developed state, Aguascalientes, Losano, led a team to visit China last month. His study tour in Jiangsu, Zhejiang and Shanghai focused on the automobile and auto parts industry. He said that he would like to invite several Chinese car companies to organize a delegation to visit Mexico and Aguascalientes, and look forward to specific projects in the future.
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