-From 2012 to 2020, the import value of bicycles in Mexico has been steadily increasing, with a year-on-year increase of over 100% in 2021, a slight decline in 2022, and a further decline in 2023.
-Mexico mainly imports bicycles from China, followed by Taiwan, China. In 2023, the proportion of bicycle imports from China reached 93%.
-Mexico's bicycle export value is less than 1% of its import value year-round, and its production and manufacturing capacity is relatively weak.
-The domestic manufacturing capacity of Mexican bicycles is extremely poor. In just six years, the total production of domestic bicycles has accounted for less than 0.1% of the total sales, and bicycles are almost entirely dependent on imports. The tightening foreign trade policy seems to have not played a promoting role in the local bicycle manufacturing industry.
-After reaching its peak in bicycle sales in Mexico in 2021, it began to experience two consecutive years of decline. In 2023, Mexico sold 771574 bicycles, and sales continued to decline.
Children's bicycles occupy the largest share of the Mexican bicycle market, accounting for over 50%. In recent years, the sales of children's tricycles have gradually decreased, while the sales of children's bicycles have gradually increased. Mountain bikes account for about 20% of the total, while other road bikes, city bikes, and other types of vehicles account for less than 30% of the total.
-According to data from the past six years, adult models in Mexico account for about 30%, but these are far lower than the sales of children's bicycles. Data shows that Mexican users tend to use bicycles more frequently during their childhood, but as adults, they tend to switch to other modes of transportation.
-The sales of children's models have always accounted for a large proportion in the Mexican market, and the sales of children's bicycles reached their peak during the COVID-19 pandemic in 2021, before entering a phase of inventory clearance and continuing to decline.
-The best-selling adult car products in Mexico through e-commerce channels are mainly priced below 6000 Mexican pesos ($350), while children's car products are priced below 4700 Mexican pesos ($275), mainly in the mid to low price range.
The children's bike market in Mexico has a huge and stable market share, followed by mountain bikes, which have a greater demand in the market.
The import policy for bicycles has been continuously tightening in the past two years, which is extremely unfriendly to China's bicycle exports from a policy perspective. However, Mexico's domestic bicycle manufacturing industry is not well-developed, so bicycle sales still heavily rely on imports. As the largest bicycle importing country in Mexico, China should be extremely affected by import policies.