MEXICO: Hyundai's `Atoz' to Be Sold in Mexico Via DaimlerChrysler
An agreement will be finalised between Hyundai and the DaimlerChrysler affiliate in Mexico by the end of the month for the sale of 35,000 cars in Mexico per year, a Hyundai official said yesterday.
The agreement is the first tangible development from the recently-forged strategic tie-up between Hyundai and DaimlerChrysler.
The Mexican auto market is estimated at 1.65 million units per year, with DaimlerChrysler taking the lead in market share with 23 percent.
The Mexican government only allows foreign car makers to export finished cars to Mexico if they build production lines there.
Previously, Korean manufacturers were ineligible, but through DaimlerChrysler Hyundai will be able to get around the restriction.