**Sheinbaum Extends Decree for Legal Importation of Used Vehicles**
In a recent development by the Federal Government, the Secretariat of Economy has officially announced the extension of the decree regulating the legal importation of used vehicles into Mexico. This extension, published in the evening edition of the Official Gazette on November 5, 2024, allows for the continued importation of such vehicles through legal channels, namely customs and international trade firms, until November 5, 2025.
This decree is crucial for vehicles that have been stuck at the northern border since October 1, 2024, allowing their entry legally into the country. However, it notably excludes “autos chocolate,” which are illegally smuggled foreign vehicles.
Under the leadership of President Claudia Sheinbaum Pardo, the administration aims to bolster economic integration in North America by facilitating such imports, strengthening the legal standing of these vehicles primarily in northern Mexico. The decree, which last saw an extension in November 2022, returned to address the economic interactions specific to the U.S. and Mexican border.
The decree outlines that vehicles between five to nine years old from the import year face an import duty of 1%, while those ten years old carry a 10% duty. Additionally, vehicles must have a valid certificate of origin and pass several regulatory conditions, such as not being banned in their country of origin or listed as stolen, ensuring they meet mechanical and environmental standards.
**Secondary Article: Understanding the Impact of Used Vehicle Importation on Border Regions**
As Mexico extends the decree for legal importation of used vehicles, experts weigh in on its potential impact on the country’s northern border regions. By allowing a controlled influx of vehicles through legitimate channels, the government aims to enhance economic activity, providing Mexican citizens with more vehicle options and fostering North American economic integration.
Experts highlight that while this policy supports regional economies, it demands stringent enforcement to prevent the illicit entry of unauthorized “chocolate” cars. This decree can help stabilize market prices and ensure safer, eco-friendly vehicles on the roads if implemented effectively.
Looking ahead, stakeholders urge continuous monitoring of the policy’s effectiveness in safeguarding family assets, promoting safety, and enriching economic ties across North American borders. As the year-long extension progresses, it promises to reflect both the challenges and achievements of cross-border trade and economic policy in Mexico.