Originally Looking Glass Motors. The cars did not meet all applicable US Federal standards, Bug Motors applied for an exemption but I don't think they ever got it, so I'm not sure your car is
truly 100% legal by all NHTSA and EPA regulations. If it's titled using the original Mexican VIN, that wouldn't be on the list of cars approved for import and theoretically it could be found out just by a computer search of state records...not much to worry about, the government doesn't seem to be interested in actively searching out these cars which slipped through the cracks ~20 years ago.
The text of their exemption application to NHTSA can be found here:
http://www.thesamba.com/vw/forum/viewtopic.php?t=514137 ...skimming over it, looks like a couple of the issues (restraint system and 3rd brakelamp) would be fairly trivial to deal with, but the Mexi-Bugs didn't have side impact reinforcement beams in the doors (all US-market Beetles got those starting with the `74 model year) and I can't envision how they could be added without the need for repainting the doors - might be simpler to just hang some good-used `74-up doors from a US-market car and paint
those.
Bug Motors tried to evade emissions requirements by representing the cars as used 1973 models (pre-EGR carbureted engine), but California's CARB wasn't buying that. Since they were a California-based business that added to their legal woes.
The swingaxle rear suspension made sense for pounding along unimproved roads in Mexico, but compared to the IRS setup which all US cars had by `69 it's rather crude handling-wise. Essentially the car drives like a `68 Bug with a dualport engine (I believe they all also had disc front brakes) but the metal/interior/etc. is ~20 years fresher than the last Beetles sold in the US.
I can only hazard a guess as to its value, I don't think they have any special following among collectors though. Bruce2 has brought some Mexi-Beetles into Canada and speaks well of their general quality; the newest one I've ever had the opportunity to examine closely was an `83 and I was underwhelmed, it was pretty austere compared to the Export versions we received here...perhaps in the same range as a clean/low-miles `77 US Beetle?
Another strategy used back then was to strip a new Mexi-Beetle and use all of its new parts on a refurbished used US-titled pan. Some outfits ran afoul of the law doing that, too (most notably for short-cutting and simply welding in the section of tunnel with the VIN on it, a huge no-no and a federal felony).
TomB and
DrDarby at Volkswebbin.net each own a couple of ones done with a pan swap.
http://www.volkswebbin.net/topic/81190/ ... co-beetle/
Note in particular
DavidH's comments halfway down the page.