Auto sales in China have blown up in the last few years, but after things calm down there, Forbes reports Mexico has a good chance of seeing a boom in auto sales.
Ferrari North America CEO Marco Mattiacci is looking out for Mexico for a few good reasons. It’s not because Ferrari has seen significant growth in Mexico lately, but because he believes the increased manufacturing, top-notch education, improved government, and close proximity to the U.S. are positive signs the country is on the rise. But perhaps the most obvious indicator that things are going very well south of the border is the increase in wealth, which became apparent to Ferrari after receiving 15 orders for the LaFerrari hybrid supercar. That’s a stark contrast to 10 years ago. “I can tell you that in 2003 when we launched Enzo…Mexico was not having that kind of request. That’s a big indicator.”
Automakers have been banking on China lately by increasing sales and dealer networks. American manufacturers such as Ford and GM have enjoyed record sales in the People’s Republic, but so have super-lux car companies including Bentley. In 2011, China surpassed the U.K. as the automaker’s second most important market after the U.S. Whether the same thing happens in Mexico remains to be seen.