Chinese Economy Watch

[E-195]

BYD's Mexican plant produces cars for sale only in Mexico,

with no plans to sell them in the United States.

View: https://www.youtube.com/watch?v=fjBuUrmRnwI

 

[helin]

The ten companies that sold the most cars — manufactured in Mexico and imported, between January and July 2024 —, according to information collected by Inegi, are the following:

COMPANY UNITS
Nissan 142,722
General Motors 116,838
Volkswagen 74,990
Toyota 69,147
KIA 59,828
Mazda 52,768
Stellantis 52,063
Ford 30,403
Hyundai 29,384
MG Motor 29,152
As for models, these are the most popular, according to figures collected between January and August 2024:

Nissan Versa: 60,389
Chevrolet Aveo: 36,310
KIA K3: 27,154
Nissan March: 18,827
Volkswagen Virtus: 18,779
MG5: 17,505
Nissan Sentra: 14,599
Chevrolet Onix: 13,415
Mazda 3: 13,082
Volkswagen Jetta: 12,151
Regarding trucks, pick-ups, SUVs and minivans:

Nissan NP300: 37,617
Toyota Hilux: 15,273
Nissan Kicks: 15,159
Mazda CX30: 14,765
WV Taos: 12,110
KIA Seltos: 11,676
Captiva SUV: 11,259
Hyundai Creta: 10,970
GM Tornado van: 10,994
GM S10: 10,295
The data shows that SUV vehicles have accounted for almost 40% of sales, while light trucks (pick-ups) reached record sales last June. In addition, the automotive industry in Mexico continues to show growth despite external challenges and political uncertainty. With record production and sales figures, this sector is consolidating itself as one of the most important for the national economy.

Los autos más vendidos en México en lo que va de 2024

Las camionetas pequeñas, llamadas SUV, están conquistando cada vez más mercado

elpais.com

there are not official BYD data, but is highly unlikely they are selling EVs, if they sell cars very likly are not electric and their prices are very high.
Versión Precio
Sense TM '24 $ 311,900
Sense CVT '24 $ 314,900
Advance MT '24 $ 349,900
Advance CVT '24 $ 356,900

Nissan Versa 2024 - Precios especiales | Nissan México

Obtén el mejor precio de Nissan Versa 2024. ¡Aprovecha nuestros precios especiales y lleva a casa tu auto ideal hoy mismo!

www.nissan.com.mx

BYD Mexico. Autos Liverpool. BYD Dolphin EV: Promotional price from $536,990 to only $485,900. BYD Yuan Plus EV: Promotional price from $799,000 to only $649,000.

https://autos.liverpool.com.mx/

BYD expects to sell 100,000 EVs in Mexico in 2025

BYD expects to sell 50,000 EVs in Mexico this year and 100,000 in 2025, the head of the company's Mexican operations said.

cnevpost.com

 

[E-195]

BYD expects to sell 100,000 EVs in Mexico in 2025

BYD expects to sell 50,000 EVs in Mexico this year and 100,000 in 2025, the head of the company's Mexican operations said.

cnevpost.com

expect is not a fact plus there are no offical sources at this moment how many cars are selling, but by the prices of their cars they are far far more expensive than Nissan.

MG is far far more visible but Nissan is the main car company.

the 100000 Figure is not even for 2024 but for 2025, in 2024 they expect 50000 but INEGI has no data to confirm it.

SO I will put it simply BYD wants a factory in Mexico because prices are going up due to tariffs and the data I gave you was for 2024 before September, so after October 1st prices are going up.

So if they build in Mexico a factory they are still banned from the USA and due to tariffs they will need to build everything in Mexico.

(besides they want reputation)
Time will tell but your news are propaganda.

Basically iin Mexico they want Trump since a more protectionist USA means more nearshoring goes to Mexico, BYD will only enter the USA if they build factories in the USA and pay american salaries

 

[rockdog]

BYD expects to sell 100,000 EVs in Mexico in 2025

BYD expects to sell 50,000 EVs in Mexico this year and 100,000 in 2025, the head of the company's Mexican operations said.

cnevpost.com

View: https://www.youtube.com/watch?v=mcMNXNhhBuE

 

[rockdog]

BYD's Mexican plant produces cars for sale only in Mexico,

with no plans to sell them in the United States.

Mexico: Chinese vehicles account for 30% of imports and 20% of sales​

Mexico: Chinese vehicles account for 30% of imports and 20% of sales - MarkLines Automotive Industry Portal

Sei series, a compact crossover SUV produced in Mexico by Anhui Jianghuai Automobile Group Corp., Ltd. (JAC) (Source: JAC) Automobile production and sales in Mexico continue to expand due to the

www.marklines.com

 

[Blademaster]

About 20 Democrats in the U.S. Congress on Tuesday urged President-elect Claudia Sheinbaum to address national security concerns raised by internet-connected vehicles produced by Chinese automakers in Mexico.

All modern cars and trucks have built-in networking hardware that provides internet access and allows them to share data with devices both inside and outside the vehicle.

The lawmakers led by Rep. Elissa Slotkin and Sen. Sherrod Brown called in a letter to Sheinbaum to set up a national review and send a delegation to the United States in early 2025 for talks.

The United States fears that China, a strategic and economic rival as well as a trading partner, could use data collected by connected vehicles for surveillance or, in extreme circumstances, control them remotely via the internet and navigation systems.

“We believe that this data set, under the control of the Chinese Communist Party, constitutes a threat to national security,” the letter, also signed by Senators Gary Peters, Debbie Stabenow and Tammy Baldwin, states.

Last week, US President Joe Biden proposed banning Chinese software and hardware in connected vehicles on US roads, which would effectively prevent Chinese cars and trucks from entering the US market and ban new vehicles produced in Mexico by Chinese automakers.

You may be interested in: Gustavo Petro claims that Claudia Sheinbaum collaborated with Colombian M-19 guerrillas

Biden increased tariffs on electric vehicles made in China by 100%
China rejects US criticism and has said that the country's measure “lacks a factual basis, violates the principles of market economy and fair competition and is a typical protectionist approach.”

The Biden administration is taking steps to prevent Chinese cars from being sold in the United States, and advocacy groups have warned of what they say is unfair competition from heavily state-subsidized Chinese electric vehicles.

This month, Biden raised tariffs on Chinese-made electric vehicles by 100%, even though only four Chinese light-duty vehicles are currently sold in the United States. Congress passed a law in 2022 to ban Chinese-made electric vehicles from receiving tax credits.

The lawmakers noted that Chinese automakers have made inroads into the Mexican market and said it raised “significant concerns” that they were now trying to use Mexico as a base to enter the U.S. market.

The letter noted that Chinese electric vehicle maker BYD plans to build a factory in Mexico, which it said “raises the possibility that Chinese companies will try to circumvent these U.S. tariffs with production in Mexico.”

With information from Reuters.

Legisladores estadounidenses piden a Sheinbaum abordar preocupaciones sobre vehículos chinos

EU teme que China pueda utilizar datos recopilados por vehículos conectados para vigilancia o, en circunstancias extremas, controlarlos.

forbes.com.mx

And they also need to be reminded that US is also doing the same by building backdoors in every US designed software and hardware devices. US is doing this way more than China could ever hope to dream.

 

[E-195]

View: https://www.youtube.com/watch?v=mcMNXNhhBuE

Let` them dream the dream will turn sour, if people do not learn from History

 

[rockdog]

BYD expects to sell 100,000 EVs in Mexico in 2025

BYD expects to sell 50,000 EVs in Mexico this year and 100,000 in 2025, the head of the company's Mexican operations said.

cnevpost.com

"Last year, 25% of all vehicles sold in Mexico were sourced in China," Farley said. "The world is changing."

Ford, GM CEOs open to partnerships to compete with China​

https://www.reuters.com/business/autos-transportation/ford-ceo-open-working-with-rivals-compete-with-china-2024-02-15/

 

[E-195]

And they also need to be reminded that US is also doing the same by building backdoors in every US designed software and hardware devices. US is doing this way more than China could ever hope to dream.

correct but in Politics there is a term call Geopolitics.

Brazil is far far from China same South Africa, so geopolitically India is with the USA, you will ask why? the Chinese have border with India, Mexico has border with the USA, true we had war in th 19th century, but nowadays there are close to

The Mexican diaspora is comprised of approximately 38.8 million U.S. residents who were either born in Mexico or reported Mexican ancestry or origin, according to MPI tabulation of data from the U.S. Census Bureau's 2022 American Community Survey.

Mexican Immigrants in the United States

The number of Mexican immigrants in the United States dropped by about 1 million from 2010 to 2022, but has since rebounded to an extent while remaining below its peak. Mexicans are by far the largest group of immigrants in the United States, and more than half live in either California or...

www.migrationpolicy.org

India is a more likely an USA ally and Mexico has close to 20% of its population in the USA so we are also allies of the USA.

reality wise India should align with Russia or economically with the USA, it is geopolitics

 

[Blademaster]

correct but in Politics there is a term call Geopolitics.

Brazil is far far from China same South Africa, so geopolitically India is with the USA, you will ask why? the Chinese have border with India, Mexico has border with the USA, true we had war in th 19th century, but nowadays there are close to


India is a more likely an USA ally and Mexico has close to 20% of its population in the USA so we are also allies of the USA.

reality wise India should align with Russia or economically with the USA, it is geopolitics

Only at America's pleasure. The problem is that America doesn't know what is the limit. They will keep pushing until you break and they move onto the next target. Its state department is insidious.

 

[E-195]

Only at America's pleasure. The problem is that America doesn't know what is the limit. They will keep pushing until you break and they move onto the next target. Its state department is insidious.

agree, but the USA has no territorial dispute with India, but any way let us leave it here

 

[rockdog]

 

[Azaad]

View attachment 12593

Please also list the amount of subsidies ALL these countries provide their shipbuilding yards especially China & save us the bother .

 

[FalconSlayers]

View: https://x.com/BloombergAsia/status/1847243244838568389

 

[E-195]

BEIJING (Reuters) — China's economy grew at the slowest pace since early 2023 in the third quarter, and though consumption and factory output figures beat forecasts last month, a tumbling property sector remains a major challenge for Beijing as it races to revitalize growth.

Authorities have sharply ramped up policy stimulus since late September, but markets are waiting for more details on the size of the package and a clearer road map to put the economy back on a solid longer-term footing.

The world's second-largest economy grew 4.6% in July-September, official data showed, a touch above a 4.5% forecast in a Reuters poll but below the 4.7% pace in the second quarter.

"China's Q3 2024 data is not a turn-up for the books," said Bruce Pang, Chief Economist at JLL. "The performance aligns with market expectations, given the weak domestic demand, a still struggling housing market, and slowing export growth."

"The stimulus package announced at the end of September will take time and patience to boost growth over the next several quarters," he added.

Markets were choppy following Friday's burst of data, but then rallied sharply with the blue-chip CSI 300 (000300.SS) Index up 2.5% and the Shanghai Composite (000888.SS) rising 2.0% after the central bank announced two funding schemes to support the equity market.

CSI 300 Index (000300.SS)

Officials addressing a post-data press conference on Friday expressed confidence the economy can achieve the government's full year growth target of around 5%, underpinned by further policy support and another cut to the amount banks must hold in reserve.

"Based on our comprehensive assessment, the economy in the fourth quarter is expected to continue the stabilisation and recovery trend that occurred in September. We are fully confident in achieving the full-year target," Sheng Laiyun, deputy head of China's statistics bureau, told reporters.

Policymakers could take some comfort in forecast-topping industrial output and retail sales data for September, but the property sector continued to show sharp weakness and underline markets' calls for more support steps.

"We would downplay the importance of better-than-expected key economic indicators in September given that the structural weakness in the property and household sectors remains largely unaddressed," said Betty Wang, an economist at Oxford Economics.

"The recently announced stimulus measures could cushion the downside risks to next year's growth, but are unlikely to reverse the structural downturn."

A Reuters poll showed China's economy is likely to expand 4.8% in 2024, undershooting Beijing's target, and growth could cool further to 4.5% in 2025.

PROPERTY PAINS​

On a quarterly basis, the economy expanded 0.9% in the third quarter, compared with a revised 0.5% growth in April-June, and below forecast of 1.0%.

With 70% of Chinese household wealth held in real estate, a sector that at its peak accounted for a quarter of the economy, consumers have kept their wallets shut tight.

The frail consumption has taken a toll on many businesses, with major Franco-Italian eyewear maker EssilorLuxottica (EL.PA) just one of many in the firing line. The makers of Rayban and Oakley brands reported it had missed third quarter revenue expectations dragged by weak consumer demand in China.

Worryingly, there were few signs of a property market revival despite several rounds of policy support measures over the past year, with separate data on Friday showing China's new home prices fell at the fastest pace since May 2015.

China's crude steel output in September also slid for a fourth month, missing expectations of a rebound in purchases of the construction commodity.

Moreover, cracks have started to appear in the key export sector, a lone bright spot in the economy, with shipment growth slowing sharply last month.

POLICY SUPPORT MISSING MARK?​

China has been grappling with deflationary pressures since early last year, and some economists see those strains deepening.

"The GDP data confirmed that China faces excess supply and lack of demand. China is seen falling into fully-fledged deflation," said Toru Nishihama, Chief Economist, Dai-Ichi Life Research Institute in Tokyo.

Policymakers, who have traditionally leaned on infrastructure and manufacturing investment to drive growth, have pledged to shift focus towards stimulating consumption.
Customer shops at a supermarket in Beijing
The central bank in late September announced the most aggressive monetary support measures since the COVID-19 pandemic to support the property and stock markets.

However, the numerous steps have still left investors waiting on details of the overall size of the stimulus package and a clear plan to reignite broader growth.

China observers have also repeatedly highlighted the need for authorities to address longer-term structural challenges such as overcapacity, high debt levels and an ageing population.

"China has started to roll out a flurry of stimulus measures since last month. I'm not sure if those measures are sufficient or not," Nishihama said.

"What I can say is that Chinese authorities are missing the mark - they are not doing what should be done while leaving structural problems unattended."

(Reporting by Kevin Yao; Writing by Joe Cash; Editing by Shri Navaratnam)

China just triggered more stimulus measures, even as it says its economy is showing 'stable growth'

China's GDP grew 4.6% in the third quarter — its slowest pace of growth in six quarters.

www.yahoo.com

 

[helin]

 

[E-195]

View attachment 12710

Western style of Making money


Built in country


Do you need ships if you build for local markets?

No, not really.


Do you need ships to send it to the next country?

No not really

U.S. goods and services trade with Mexico totaled an estimated $855.1 billion in 2022. Exports were $362.0 billion; imports were $493.1 billion. The U.S. goods and services trade deficit with Mexico was $131.1 billion in 2022.

Mexico

The North American Free Trade Agreement (NAFTA) has fostered this relationship by virtue of the agreement's comprehensive, market-opening rules. It is also creating a more equitable set of trade rules as trade barriers in Mexico are reduced and eliminated. U.S.-Mexico Trade Facts

ustr.gov

Evolution of intra-EU trade in goods​

In 2023, the exports of goods from EU countries to other EU countries stood at 4 135 billion, a decrease of 2.4% compared to 2022.

When looking at the long-term evolution by month, exports of goods within the EU showed significant fluctuations during the financial and the Covid-19 crises. In particular during the pandemic crisis, exports dropped dramatically between February 2020 and April 2020, before recovering in the subsequent months and reaching a peak in August 2022. Fr

Intra-EU trade in goods - main features - Statistics Explained

These statistics present the recent trends of total intra-EU trade in goods and the most traded products for the EU and its countries.

ec.europa.eu

The trade data over the past two years shows steady growth, even in the midst of recovery from a pandemic and the global tumult caused by the Russian invasion of Ukraine. Total US trade with Canada and Mexico was a record $1.78 trillion in 2022, an increase of 27 percent over 2019 levels. For comparison, total US trade with China in 2022 increased by just 20 percent over the 2019 level.

At Three Years, the US-Mexico-Canada Agreement Has Proven Its Worth

Three years on from the day the USMCA came into force, Mexico Institute Director Andrew Rudman and Canada Institute Director Christopher Sands assess the agreement's record and prospects.

www.wilsoncenter.org

 

[E-195]

View attachment 12710

The investment picture is less clear. North American nearshoring/reshoring is on the rise as measured by the 2022 Kearney Nearshoring Index, which found a 78 percent increase from 2021 to 2022 in the number of CEOs evaluating reshoring their operations, moving to reshore, or having already reshored production. The Kearney index found that geopolitical risk was the leading factor in the surveyed CEO’s reshoring decisions. And shifting US supply chains away from China to friendly countries has been broadly popular, with 7 in 10 respondents to a 2022 survey by the Chicago Council on Global Affairs supporting “friendshoring.” This has translated to bipartisan support for the concept.

At Three Years, the US-Mexico-Canada Agreement Has Proven Its Worth

Three years on from the day the USMCA came into force, Mexico Institute Director Andrew Rudman and Canada Institute Director Christopher Sands assess the agreement's record and prospects.

www.wilsoncenter.org

Mexico to be the new epicenter for Nvidia superchip manufacturing: Foxconn to build world's largest factory
Foxconn has announced that it is building the largest NVIDIA chip factory on the planet in Mexico
The manufacturer will take advantage of Mexico's strategic position to assemble NVIDIA's AI superchips

México será el nuevo epicentro en la fabricación de superchips de Nvidia: Foxconn construirá la mayor factoría del mundo

La batalla por la producción de chips para IA va camino de alcanzar un nuevo nivel con la confirmación de que, uno de los principales fabricantes de chips va...

www.xataka.com

 

[helin]

View: https://x.com/Rory_Johnston/status/1846161500945203421

 

[helin]