Chinese automaker BYD has consolidated its lead in Mexico’s electric vehicle market, accounting for roughly seven out of every 10 electric and plug-in hybrid vehicles sold in the country, even as new tariffs on Chinese-made vehicles took effect this year. Data from BloombergNEF show that BYD nearly doubled its sales volume in Mexico last year, reinforcing its position as the dominant player in a segment that continues to expand despite trade pressure and regulatory uncertainty.
Electric and plug-in hybrid vehicles represented about 9% of new vehicle sales in Mexico, according to BloombergNEFBN, making them one of the fastest-growing segments in the country’s auto market. While the share remains small relative to total vehicle sales, the growth contrasts with limited participation by US, European, and Japanese automakers, many of which have prioritized gasoline or hybrid models…
