Asian Presence ExpandsSat, 09/01/2018 - 12:16
As the seventh-largest light-vehicle manufacturer and with a domestic market of 2 million vehicles sold per year, Mexico has become an attractive investment destination to target the Mexican consumer, as well as the US market and even Latin America. Until 2016, Korean companies were the latest entrants to the market, gaining a large share and rapidly becoming leading players in an already competitive field. However, Chinese players have also eyed Mexico and the potential opportunities this market offers. After FAW's unsuccessful venture into the light-vehicle market, two new brands have decided to enter Mexico. Industry leaders expect these companies will take the industry by storm.