Space Industry and Business News
CAR TECH
Chinese cars make inroads in Latin America
Chinese cars make inroads in Latin America
By Paulina Abramovich with AFP offices in Latin America
Santiago (AFP) Aug 24, 2024

Chilean truck driver Claudio Perez was dubious about his first purchase of a Chinese-made family car two years ago. But the price and quick delivery time convinced him, and now he is a convert.

Perez, 47, is one of millions of car buyers in Latin America to have made the shift from US- and Brazilian-built cars to Chinese models in recent years.

In 2019, the Asian economic giant sold $2.2 billion worth of cars in the region. Last year, the figure reached $8.5 billion, according to the International Trade Center (ITC), a UN agency.

Chinese car sales represented 20 percent of the region's total in money terms -- ahead of the United States with 17 percent and Brazil with 11 percent.

No other market outside Asia now has a larger share of Chinese cars, according to the ITC.

"We tend to stigmatize Chinese brands, but no... this one was super good, super good. So I don't regret buying it," Perez said of his first purchase, which he said he had expected to be "plastic-like."

And his next car will be Chinese too, he said.

Chinese carmakers have redoubled their efforts in recent years to offer products at competitive prices, without compromising on quality, according to analysts.

In the emerging market of electric vehicles, they have taken an even bigger slice of the Latin American market, with 51 percent of all sales.

Almost all electric buses in the region are made in China.

"The growth of Chinese car manufacturers in recent years has been exponential, thanks to significant improvements in quality, technology and design," said Andres Polverigiani of Nyvus, a consultancy firm that studies vehicle competitiveness.

In the United States and Europe, both with their own automotive industries, protective import tariffs have slowed China's advance, unlike in Latin America.

In Chile, with near-zero duties, Chinese models represented nearly 30 percent of car sales last year.

- 'A question of survival' -

In Mexico and Brazil, Latin America's biggest car producers, China is also making inroads.

Chinese giant BYD is building its largest electric car plant outside of Asia in Camacari, northeastern Brazil, with a targeted production capacity of 150,000 units every year.

In Latin America, Chinese cars, which tend to be cheaper than rivals, have enabled segments of the middle- and low-income population to buy their first vehicle, said Sebastian Herreros, an economist at the Economic Commission for Latin America and the Caribbean (ECLAC).

It has also allowed the introduction of cleaner engine technologies in polluted metropolises such as Santiago, Bogota and Mexico City.

"All our countries must adopt electro-mobility quickly, it is almost a question of survival," said Herreros.

"China is an ideal partner: it has the necessary production capacity and offers competitive prices."

pa/vel/mr/nn/sf/vgu/mlr/nro

BYD COMPANY

Mercedes-Benz Group

Related Links
Car Technology at SpaceMart.com

Subscribe Free To Our Daily Newsletters
Tweet

RELATED CONTENT
The following news reports may link to other Space Media Network websites.
CAR TECH
Ford adjusts EV lineup as it aims to lower vehicle cost
New York (AFP) Aug 21, 2024
Ford announced Wednesday fresh changes to its electric vehicle lineup, including the scuttling of a planned SUV model, lifting shares despite a hefty near-term profitability hit. The adjustments - which reflect a slower-than-expected transition to EVs in North America - will result in around $1.9 billion in cost hits to Ford's earnings, according to a Ford securities filing. A company news release describing the changes highlighted competitive pressures including low-expense Chinese EV produce ... read more

CAR TECH
How students learn to fly NASA's IXPE spacecraft

Astroscale Japan to lead Phase II of JAXA's Space Debris Removal Initiative

Adaptive 3D Printing System Enhances Precision in Organism Handling

Compact Spherical Air Bearings Streamline Satellite Attitude Control Testing

CAR TECH
Tyvak Secures $254 Million Contract to Build Satellites for Space Development Agency's T2TL Gamma

SDA allocates $424M for 20 Gamma Variant satellites for Tranche 2

York Space Systems Secures Contract for 10 Satellites in SDA's Tranche 2 Transport Layer Gamma

US Space Force launches Enhanced Polar System payloads with SpaceX rocket

CAR TECH
CAR TECH
TrustPoint Secures $3.8M in SpaceWERX Direct-to-Phase II Contracts

UK to build military test site to combat GPS jamming

New Study Showcases Enhanced GNSS Accuracy in Smartphones for Urban and Open-Sky Navigation

US Air Force working with SandboxAQ to enhance AQNav GPS protection

CAR TECH
Outage paralyses Dutch airport, services

VoloCity Air Taxi completes critical vibration testing

US approves $3.5-bn sale of military helicopters to S. Korea

Pilot killed in Russia military plane crash

CAR TECH
Quantum innovation scales down as Sandia and ASU team up for integrated photonics

Converting brain activity to text on one extremely small integrated system

Toward a code-breaking quantum computer

Innovations in fiber-based wearable sensors using machine learning

CAR TECH
AzurX Space Ventures and ICE Back Space Intelligence in Expanding Global Nature Mapping Dataset

Kuva Space launches first commercial hyperspectral satellite Hyperfield-1 via SpaceX

EarthDaily Analytics Secures $1.7M Contract with Malaysia's MySpatial for Advanced Geospatial Solutions

EarthCARE Lidar Reveals Detailed Vertical Profiles of Atmospheric Particles

CAR TECH
Experts meet as final global plastic treaty talks near

Study finds Lausanne toxic soil did not worsen health

Pollution levels on Lake Geneva beaches 'concerning': study

Brazil fishermen turn to mobile app to combat pollution scourge

Subscribe Free To Our Daily Newsletters




The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.