> China breaks 'stigma' to lead Latin America automotive market / 36EM4WE
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China breaks 'stigma' to lead Latin America automotive market / 36EM4WE
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Description
"We tend to stigmatize Chinese brands, but the pickup turned out flawless," says a Chilean customer, praising a Chinese vehicle which has entered a market once dominated by American and European brands. The Chilean market, among the world’s most competitive, offers over 600 vehicle models from 80 brands across 28 countries, thanks to numerous trade agreements. Over the past five years, China has quadrupled its sales to Latin America, growing from 2.182 million US dollars in 2019 to 8.564 million in 2023, capturing 20% of the market and becoming Latin America's top supplier, according to the International Trade Center (ITC). IMAGES AND SOUNDBITES