BYD Defies Tariffs to Dominate Mexico’s EV Market
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BTCCSquare news:
BYD has surged to dominate Mexico's electric vehicle market, capturing 70% of all EV and plug-in hybrid sales despite new 50% import tariffs on Chinese cars. The automaker doubled its Mexican sales last year, leveraging affordable models that appeal to middle-class drivers seeking alternatives to gasoline-powered vehicles.
President Claudia Sheinbaum's tariff policy, implemented in January, appears ineffective as BYD dealers absorb most cost increases. Industry experts predict Chinese automakers like BYD and JAC will maintain their market position even with sustained high tariffs, underscoring their pricing power and strategic commitment to Mexico.
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