The fleet renewal program for motor transport promoted by the Ministry of Economy (SE) not only seeks to modernize the motor fleet (tractors and trucks) that has an average age of 19.4 years (considering cargo and passenger trucks), but could also become a gateway for more heavy units to begin to be insured, considered Alfredo Careaga, director of Business Development of THB Mexico .
“Overall, we think the initiative is very good in terms of renewing a rather old fleet, and I believe this incentive is positive,” Careaga stated in an interview with T21, adding that the program promoted by the federal government stems from an obvious need: an aging fleet and historical difficulties in accessing financing .
For Careaga, the initiative may have effects that go beyond the purchase of units, particularly in road safety and risk management , although it will be necessary to observe its implementation and the requirements that carriers must meet to access credit.
The modernization program includes financing schemes backed by guarantees from Nacional Financiera (Nafin) for micro and small transport operators with between one and 30 vehicles , who will be able to acquire new or used vehicles. The maximum financing amount under the shared-risk scheme is 15 million pesos or its equivalent in US dollars, and the option to acquire new vehicles will be for up to 84 months with a minimum down payment of 10 percent.
For pre-owned units, the maximum term will be up to 60 months with a minimum down payment of 15 percent .
Although the plan is being implemented by the Ministry of Infrastructure, Communications and Transportation (SICT) , it is part of a broader package announced by the Ministry of Economy within the Mexico Plan to promote the renewal of heavy vehicles. This package includes tax incentives, guarantees, a new Official Mexican Standard, and measures to protect domestic production .
From Careaga’s perspective, one of the biggest benefits of the renewal is the incorporation of technology and safety devices in the new units, such as GPS tracking systems and other elements that can contribute both to fleet monitoring and to a faster response to incidents.
The specialist considered that, if new vehicles must introduce certain measures to access credit, it would create an incentive to improve risk management , especially for micro, small and medium-sized enterprises, which usually face greater difficulties in obtaining financing and which, from Careaga’s point of view, are the ones that concentrate older units with fewer safety measures,
Insurance sector, a piece of financing
The participation of the insurance sector could be another factor in determining the program’s scope. Alfredo Careaga stated that insurers are interested in adding new vehicles to their portfolios , particularly those with improved safety features.
The specialist indicated that the renewal could also expand insurance penetration in the motor transport sector.
According to SICT statistics, the fleet serving federal motor transport totaled 762,821 motor units in 2025 , representing an annual increase of 5.4 percent.
In the same cycle, the Mexican Association of Insurance Institutions (AMIS) identified 927,978 heavy units —including trucks, tractor-trailers, minibuses, buses and semi-trailers— that were insured.
In that regard, Alfredo Carega suggested that insurance could be more directly linked to loans. If a financial institution provides funds to acquire a vehicle, protecting that asset can reduce the risk of default in the event of an accident or theft .
The executive also considered that the initiative could serve as a first stage to test a scheme that could later be expanded with greater private participation, which would represent an opportunity to support financial institutions and carriers in designing adequate coverage for vehicles acquired under the scheme proposed by the federal government.
In this way, the renewal of the vehicle fleet presents an opportunity that goes beyond taking old units out of circulation: it can link financing, safety and insurance under the same scheme.
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