China breaks 'stigma' to lead Latin America automotive market
"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. Over the past five years, China has quadrupled its sales to Latin America, growing from $2.182 million in 2019 to $8.564 million in 2023, capturing 20 percent of the market and becoming Latin America's top supplier, according to the International Trade Center (ITC).
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