Mexico limits auto parts exemption to local firms

Mexico limited the benefit of duty exemption for imported auto parts to companies that own manufacturing facilities within the country. This move aims to restrict new companies, including Chinese firms, from benefiting from the new incentives. The Ministry of Economy clarified that the exemption applies to 11 eligible companies, including global brands such as Audi, BMW, Ford, Nissan, and Toyota, provided they have manufacturing facilities in Mexico and meet other criteria. This comes after the reduction of import tariffs from 10% to zero for five years on imported car components, continuing to emphasize support for existing companies operating in the local market, despite Chinese car sales rising by approximately 30% in Mexico during the first half of the year.

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