Foton's 2024 Milestones in Mexico
November 11,2024
As 2024 draws to a close, Foton Motor has marked impressive progress in the Mexican market, especially through the launch of new pickup truck models and significant investments in local production.
New Product Launches Enhance Foton’s Product Matrix in Mexico
In 2024, Foton introduced several new models in Mexico, further strengthening its product lineup. The launch of the TUNLAND series, which includes the TUNLAND V, TUNLAND G, and the first-ever hybrid full-size pickup, the TUNLAND E5, marks a significant expansion in Foton's product offerings. With these new models, Foton now has a comprehensive product matrix in Mexico, covering heavy-duty, medium-duty, and light-duty trucks, as well as pickups and electric vehicles. This diversified range serves various sectors such as logistics, transportation, and construction, addressing the diverse needs of the Mexican market.
Sales Surge and Increased Brand Recognition
In terms of sales, Foton’s Mexico division sold over 3,100 units in the first half of 2023, a remarkable 332% year-on-year increase. The company expects to surpass its 2023 sales figures and continue its steady growthThis impressive growth demonstrates the competitiveness of Foton’s products in the Mexican market and significantly boosts its brand recognition. Foton’s product lineup now covers heavy-duty, medium-duty, and light-duty trucks, as well as pickups and electric vehicles, catering to diverse sectors like logistics, transportation, and construction. By expanding its marketing channels, Foton has established itself as a key player in Mexico’s commercial vehicle market, with plans to be among the top three commercial vehicle brands in the country by 2030.
Investment in Local Production to Strengthen Market Presence
In addition to its sales growth, Foton is accelerating its efforts in local manufacturing. In July 2024, the company announced an investment of $100 million to build a second factory in Tlajomulco de Zúñiga, Jalisco. This facility will focus on producing pickup trucks and is expected to begin production in January 2025, with an initial capacity of 1,000 units per year. The factory will supply the Mexican and South American markets and lay the groundwork for future production of electric vehicles for the North American market. This investment highlights Foton’s long-term commitment to Mexico and its strategic importance within Foton’s global operations.
Foton Motor Expands Global Presence
Foton Motor is not only focused on expanding its global market reach, but also dedicated to regional manufacturing to enhance product competitiveness and support local economic growth. With 28 years of global experience, Foton has successfully penetrated strategic markets such as Europe, Mexico, and Thailand. The company has established 22 KD factories worldwide, with a combined production capacity of 800,000 vehicles annually. Its overseas distribution network exceeds 1,000 locations, and service networks surpass 1,200, covering over 130 countries and regions. These efforts not only add value to local industrial chains but also create job opportunities and contribute to the sustainable development of local economies.
Looking Ahead: Innovation Drives Market Expansion
Looking to the future, Foton plans to further deepen its presence in the Mexican market by introducing more products tailored to local needs and enhancing its after-sales service system. With continued investment in localized production, technological innovation, and comprehensive product services, Foton aims to increase its market share and inject new energy into Mexico’s commercial vehicle sector.
Source : www.chinatrucks.com
Editor : Skye
Views : 5322
