The popularity of the Ford Mustang around the world is not to be underestimated. Europeans have already proven that they’re willing to pay a premium to get behind the wheel of a Ford Mustang, and some Chinese enthusiasts have gone so far as to create their own “Mustang” tribute.

Yet these enthusiasts might not have to build their own Mustangs if Ford simply sold the Mustang in China. As CarNewsChina points out, GM can charge nearly three times as much for a Camaro V6 in China as it does in the U.S. Is Ford leaving a lot of money on the table?

It certainly seems that way. The going price for a Camaro V6 in China 455,800 RMB, which works out to about $72,199. With the Camaro starting at just $23,354, even once you factor in 25% import tariffs and shipping costs, GM stands to make a hefty profit on these base model Camaros.

So why not Ford? You can get grey-market imported Mustang V6 in China, at substantial cost; nearly $90,000 in U.S. currency. Yet Ford doesn’t see any of that; just whatever they make off of the MSRP (which starts at $22,200). If you were to step up to the Mustang GT, Boss 302, or GT500, you’d get slapped with a 40% engine size tax (for anything over 4.0 liters) which could see prices as high as almost $200,000 for the Shelby GT500…and plenty of that would be profit for Ford.

Yet even though GM has sold the Camaro in China since 2010, Ford has decided that Europe is a better place to start selling its muscle car. This, despite a severely hurting European economy and a demonstrated desire for American muscle in China.

Sometimes you have to wonder about the logic running these car companies.