Mexico has changed the rules on car imports from the US. Only cars
registered in 1998 can be legally imported into Mexico. Until now, second hand cars 10 to 15 years old were scooped up at auction by South Texas used car dealers and rapidly sold to Mexicans hungry for affordable transportation and "la novedad" or novelty of unfamiliar makes and models.
Cars newer than that were banned from imports as unwelcome competition for Mexican car dealers, and anything more than 15 years old was seen as a potential environmental and safety hazard. But now, under pressure from Mexico's new car dealers who say "vehiculos chatarra," or jalopies, undercut their sales, the Mexican government is allowing only 10-year-old used cars to be legally imported into Mexico.
With the sudden change in demand, 1998 models are appreciating for the first time since they rolled off the lot. In some cases car prices are doubling from $1000 to $2,000, while dealers cut prices on slightly older models in a frantic effort to move them out before the deadline.