"About 30% of American car buyers would now consider a Chinese vehicle, up from 15% a decade ago. The reason has to do with the high cost of cars in the U.S."
"We cannot compete at the same price as the Chinese, says Hyundai CEO José Muñoz about Chinese automakers."
"The Chinese are going to find a way to get to the U.S. market, said Nissan Americas Chairman Christian Meunier."
Chinese-made Geely sedans and BYD hybrid SUVs are sold in Ciudad Juárez, Mexico, at competitive prices. Federal regulations permit Mexican residents to drive these vehicles into the U.S., even if they don't meet American standards. This loophole has led to increased interest among American car buyers, with 30% now considering Chinese vehicles, a significant rise from 15% a decade ago. The high cost of cars in the U.S. contributes to this shift in consumer interest, prompting concerns among U.S. auto executives.
Read at Entrepreneur
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