Omoda Arrives in Mexico With Two Vehicle Models

The Chinese automotive company Omoda, property of Chery International, officially arrived in Mexico. In 2023 the brand will seek to market 1,000 units, open 70 dealerships and define a location to build a plant that can assemble models of the Omoda, Jaecoo and Chirey brands, all owned by Chery.?

Omoda joins the wave of Chinese companies that have arrived in Mexico in recent years and that has intensified in recent months, with launches of brands such as Jetour, Arra, BYD, among others. “We are very excited. We believe that the Mexican market can be a good platform to supply both the domestic market and Latin America," said Bryan Wu, Executive Vice President, Omoda and Chirey Mexico, during an interview at Omoda’s opening event.?

The company launched two models to work its way into the Mexican market: the C5 an O5. The C5 is a compact SUV equipped with a coupe-style body and a 3D grille. The model will be offered in two versions: the Luxury version will have a price of MX$514,900 (US$29,123.1), while the Premium version will reach MX$576,900 (US$32,629.9). The O5 sedan incorporates two driving modes, eco and sport. Regarding security equipment, it has six airbags and an ADAS system. This model comes in two versions: Life, with a price of MX$399,900 (US$22,618.6), and Unlimited, which costs MX$455,900 (US$25,786.1).?

The company’s goal is to have 70 distributors throughout the country before the end of the year. The firm is moving forward at an accelerated rate, since it already has 54 dealerships in 29 states. Moreover, its distribution plan includes more than 40 temporary showrooms and 10 exhibition spots at shopping centers.

Efrain Gamboa, Distributors and Sales Development Director, highlighted that the company’s target audience will be young people, so in addition to physical distributors, Omoda will use digital platforms to reach potential buyers. “Our customers will be able to buy a car without leaving their home. We know that it is disruptive in the industry, but we are working very hard to achieve it," he said at the launch event.

The Chinese company has partnered with BBVA to offer financing schemes to the Mexican market. Users will access benefits, including 0% commission for credit access, a 5% down payment and a preferential launch rate of 13.99%. "In 2022, BBVA Mexico’s Automotive Banking financed 13% of all cars sold in the country and we expect to increase funding by 10% this year. In 2023, this alliance is expected to attract more than 9,000 financing deals based on the brand’s selling expectations,” explained Alejandro Cárdenas, Business Banking and Government General Manager, BBVA Mexico.