Financing drives 70% of Chinese car sales in Mexico

Between January and August 2025, 71.9% of Chinese-brand vehicles sold in Mexico were purchased through financing, a record high compared with 61% in the same period of 2024, according to a joint report by the Mexican Association of Automotive Distributors (AMDA), JATO Dynamics, and Urban Science. In August alone, the financing rate for Chinese vehicles reached 75.6%.

Of these financed purchases, 54.6% were through alliances between banks or finance companies and automakers, 45.2% through direct bank loans, and only 0.2% via in-house brand financing. BYD’s data are not reflected because the company does not officially report figures to the National Institute of Statistics and Geography (INEGI),” explained Eric Ramírez, General Director, Urban Science for Mexico and Latin America. “Since there are no official volumes, we did not include them in the comparison.”

AMDA president Guillermo Rosales raised concerns over Chinese automakers not reporting sales to INEGI. The lack of transparency from some brands not reporting sales to INEGI creates distortions in Mexico’s light vehicle sales analysis.

The report also examined hybrid and electric vehicles (HEVs). As of August 2025, financing participation stood at 50.6% monthly and 54.8% cumulatively, compared with 52.8% and 54.9% in 2024. HEV financing was structured differently: 55% via brand finance companies, 23% through alliances, and 22% through banks.

Nationally, average credit participation for retail sales of new vehicles (excluding fleet purchases) was 73% as of August 2025. Twenty-four states reported rates ≥70%, led by Sonora (89.1%), Tamaulipas (83.8%), and Baja California Norte (80.7%). Including fleet sales, mostly cash transactions, national participation fell to 60.9%, with only eight states above 70%.

By segment, financing increased in four of six categories compared with 2024: multipurpose vehicles reached 64.3% (+3 points), subcompacts 64% (+3.2), pickups 50.4% (+4.2), and luxury vehicles 48.4% (+0.4).