Popular in the Latin American market.
Made-in-China electric vehicles are winning over car buyers across Latin America and reshaping views about Chinese products.The advanced technology and competitive pricing of Chinese vehicles — EVs as well as traditional cars — are rapidly translating into rising market share for China's automakers in the Latin American market.In 2019, Chinese carmakers sold about $2.2 billion worth of vehicles across Latin America, according to the International Trade Center. By last year, the value of Chinese vehicles sold in the region almost quadrupled to $8.56 billion, accounting for roughly 20 percent of the region's car market.In 2019, Chinese carmakers sold about $2.2 billion worth of vehicles across Latin America, according to the International Trade Center. By last year, the value of Chinese vehicles sold in the region almost quadrupled to $8.56 billion, accounting for roughly 20 percent of the region's car market.
Chinese vehicles being cheaper than other brands
The quality of the cars and their price caught the attention of buyers like Florencio Perez Romero, a pilot in Mexico. Romero recently bought a Chinese-made MG RX5 because of the features it includes, like a large touchscreen console, myriad sensors and LED lighting, as well as an appealing panoramic sunroof."These are cool features. Compared to similar SUVs in the market like Toyota, Volkswagen, Ford and Chevrolet, it seemed like a good deal," said Romero.The price tag was another big factor for Romero, who noted that when all is said and done, Chinese vehicles end up being cheaper than similar offerings from other brands.
Leading in manufacturing and innovating
Chinese EV makers have been making strides in global markets. BYD, for example, has topped Tesla, which also makes many of its cars in China, as the top EV seller globally.In Latin America, meanwhile, sales are flourishing, from Mexico all the way down to Argentina's Ushuaia, the world's southernmost city. In many markets across the region, including Colombia, Brazil, Peru, Bolivia and more, where buyers are very price-conscious, the savings attached to buying a Chinese car make a big difference.In Chile, in particular, Chinese automakers have been particularly successful both in selling cars to private buyers and providing vehicles to support infrastructure development, like public transit. Chileans are increasingly willing to buy Chinese traditional cars and EVs.
Post time: Oct-25-2024