Chinese Mexico Scrappage 
The Truth About Cars
AUGUST 9, 2024
Chinese car buyers are among the most prolific EV and PHEV buyers in the world, and the country recently saw their sales numbers eclipse those of gas vehicles for the first time. Buyers do not pay sales tax on NEV purchases, and people who replace gas cars with an electrified model can receive a scrappage credit.
The Truth About Cars
AUGUST 9, 2024
Chinese car buyers are among the most prolific EV and PHEV buyers in the world, and the country recently saw their sales numbers eclipse those of gas vehicles for the first time. Buyers do not pay sales tax on NEV purchases, and people who replace gas cars with an electrified model can receive a scrappage credit.
Baua Electric
NOVEMBER 25, 2024
As a result, other Chinese OEMs have begun rolling out new PHEVs, which will exacerbate their appeal. Volumes grew by more than 100% in markets including Australia, Thailand, Brazil, Turkey, Malaysia, and Mexico in 2023 and more than 50% in India and Japan. This was calculated assuming normal scrappage rates.
Baua Electric
JANUARY 6, 2025
Assuming normal scrappage rates, EV Volumes forecasts it will take until 2042 for half the global fleet to be electric. Tariffs and import duties on vehicles, even those sourced from Mexico and Canada, could be impacted. Furthermore, global EV-leader BYD has expansion plans for the region alongside other Chinese OEMs.
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