The price of cars continues to rise. The inflation registered in the price of vehicles in June was 8.9% and, in this scenario, companies and entrepreneurs find before buying it .
From January to June of this year, the purchase of vehicles by leasing companies totaled 24,908 units, which meant an increase of 19.8% compared to the same period last year and exposes the growing popularity of this scheme in the local market.
But the Mexican Association of Vehicle Rental Companies (AMAVe) considers that the shortage of units is slowing down the growth of leasing, as it has a record of partners who have waited up to nine months for a car.
“The companies are buying what they find,” says Víctor Campuzano, leader of the AMAVe Analysis and Trend Research Committee, in such a way that the companies are acquiring the available vehicles that they find on a day-to-day basis.
Campuzano adds that the change towards more environmentally friendly mobility schemes has triggered the demand for electrified models. However, those associated with the AMAVe have waited up to ten months for hybrid vehicles.
AMAVe estimates that its purchases will represent 19% of the total market, but Campuzano points out that if there were a better volume of units available, the association’s figures would be higher.
Guillermo Rosales, president of the Mexican Association of Automotive Dealers, says there is no clear picture of available inventory levels for the coming months.
“This 2022 will continue to be marked by insufficient vehicles. Although it is true that gradually there has been a little more availability in the market, especially in the last two months, it is still quite marginal,” Rosales said.
In February of this year, automotive production in Mexico registered its first year-on-year increase, after having had seven continuous months with negative variations, as a consequence of the breaks in global supply chains.
In June of this year, with 285,318 units produced, the figure resulted in an increase of 6% compared to the same month a year earlier, however, in the accumulated figure for the first half of the year, the increase is only 3.9%.
The National Auto Parts Industry, based on data from the international consulting firm IHS Markit, has indicated that, due to the lack of semiconductors, which have been prioritized for the manufacture of electronics such as cell phones and laptops, throughout 2021 they stopped producing in Mexico 603,329 vehicles.
