According to the Report on Financing and Buyers by State January-May 2023, carried out by the Mexican Association of Automotive Distributors -AMDA- with the collaboration of JATO and Urban Science, it indicates that Financing for the purchase of new vehicles (retail and fleets) as of May of this year was 55.3%, which represents a reduction of 3.7 percentage points compared to the same May of 2022 when it was 58.7%.
In the ranking by segments in the reference period:
|
Place
|
segments
|
Percentage
|
|
1
|
compact
|
60.8%
|
|
2
|
SUVs
|
59.0%
|
|
3
|
subcompacts
|
54.4%
|
|
4
|
minivans
|
48.1%
|
|
5
|
pick up
|
47.0%
|
|
6
|
Deluxe
|
32.6%
|
|
7
|
sports
|
15.4%
|
Guillermo Rosales Zárate, executive president of AMDA, pointed out that, “The participation of banks was equal to or higher than the national reference of 19% average in the segments of SUVs, Subcompacts, Pickups, Sports and Luxury. On the other hand, the Minivans, Subcompacts and Compacts segments registered a participation of branded finance companies that is higher than or equal to the average national level of 81%”.
In terms of financing by segments; Subcompacts, Compacts, SUVs, Sports Cars and Pick-ups, the preferred period to pay off their units is 60 months (five years), while in minivans the preferred period is 36 months (three years) and in Luxury it remains at 24 months (2 years).
“The participation of brand finance companies presented progress in the segments of Compacts, Minivans, Pick-ups, SUVs, Sports and Luxury; while the banks strengthened their participation in the Subcompact segment”, explained the manager.
Rosales pointed out about the participation of credit in retail purchases (without fleets) by State in the same reference period, the percentage of credit at the national level closed at 66.1%repeating Sonora, Puebla and Chiapas as the states where their buyers prefer the use of credit rather than cash purchases.
