Overview: Mexican Fleet Market
Automotive Fleet recently provided an overview of the Mexican fleet market. There are 34 million vehicles in operation in Mexico, of which 34 percent are commercial vehicles. The corporate fleet leasing market is small relative to the size of the vehicle production and commercialization. It is estimated that between 70,000 and 100,000 vehicles are leased by upper market and corporate segments.
Victor Campuzano, director of sales and marketing for ARIZA, a joint venture in Mexico between ARI and the Groupo Zapata notes, “Most fleet leases in Mexico are open-end leases. Closed-end leases are not very popular and are typically more expensive than open-end leases. The preferred option for most medium and large corporations is purchasing. The reason is that corporations operating in Mexico are afraid of the interest rate risk.”
To read the full article, click here.