China Leads Mexico Auto Exports
This is a Mexico news story, published by Wired, that relates primarily to The European Union news.
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Mexican marketWired
•China Conquers Mexico's Automotive Market, and the US Is Worried
85% Informative
China has positioned itself as the main car supplier in Mexico , with exports reaching 4.6 billion dollars in 2023 .
The automotive industry contributes 4.8 percent of the country's Gross Domestic Product.
Mexico is the second largest market for Chinese automobiles worldwide, behind only Russia .
Mexico managed to marginally displace Japan and the United States in the world ranking of automotive exporters, moving up to third place.
The European Union led automotive exports in 2023 , reaching a total of $831 billion .
It was followed by China with $170 billion , Mexico with $158 billion , Japan with $157 billion .
Strong regional integration under the US -Mexico-Canada Agreement has also been a key factor.
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