Light vehicle fleet leasing has become a strategic alternative for companies in Latin America, but it remains a challenge in Mexico due to tax and contractual complications, according to experts.

For Cristina Vázquez, coordinator of Economic Studies at the Mexican Association of Automobile Dealers (AMDA) , leasing should boost vehicle renewals for the benefit of corporate users, but currently it barely contributes to the market.

“The structure is there, with agencies offering financing and guarantees, but the segment remains underutilized,” Vázquez said at the Fleet Latam Summit 2025 .

The regional overview confirms the contrasts. Gisele Dutra, Latam Fleet Manager at GE Healthcare , explained that in Brazil and Argentina, corporate leasing is an essential part of the operation, with negotiations on residual values ​​that include finance, human resources, and suppliers.

In Mexico, the complexity goes beyond leasing. Although light used vehicles represent 6.5 million transactions annually, only 8% are channeled through dealerships, or about 450,000 units, according to Vázquez.

He specified that, for dealers, this segment is equivalent to an average of 15% of their income, although it is still seen as a secondary business compared to the sale of new vehicles .

This gap is exploited by the informal market. Israel Aguilar, general director of LVA Subastas , noted that more than 70% of auction transactions end up in the hands of lottery sellers and resellers, reinforcing the influence of parallel channels.

The emergence of platforms like Kavak , which initially purchased vehicles above the reference price, demonstrated the riskiness of the business: placing inventory acquired at high prices is now its main challenge.

For Alfredo Hernández Hamelberg, Country Manager of Autorola Mexico , the problem lies in the lack of clarity for the end consumer.

Leasing companies and finance companies calculate depreciation and residual values, but this information is rarely communicated transparently, fueling distrust in leasing and used vehicles.

Specialists agreed that light-vehicle leasing and used vehicle sales represent significant potential in Mexico , although limited by the lack of simple regulations and the influence of the informal market.

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Recognizing excellence in corporate fleet management and automotive innovation in Latin America, the second day of Fleet Latam Summit 2025 took place , where specialists addressed fleet electrification and the growing presence of Chinese electric vehicle manufacturers in the region.

In the corporate fleet management category , the winners of the Fleet LatAm Awards 2025 , presented by Global Fleet , were:

• Fleet LatAm Manager of the Year: Ligia Herrera and Guillermo Osorio , from Cargill.
• Fleet LatAm Safety Manager of the Year: Hernani Rocha , from Diageo.
• Fleet LatAm Sustainability Manager of the Year: Yoqtán Vázquez , from Solventum.

Meanwhile, in the manufacturers category , the winners were:

• Fleet LatAm LCV of the Year: Toyota Hilux.
• Fleet LatAm EV of the Year: BYD Dolphin.
• Fleet LatAm Car of the Year: Nissan Versa.

China, more than a threat, an opportunity

During the panel  The New OEM Ecosystem , participants agreed that the emergence of Chinese brands does not represent a threat, but rather an opportunity to boost the electric vehicle market.

Norma Ortiz, head of Administrative Services at  Bayer ; Carlos Moreno Giles, deputy director of Fleet Solutions at  Nissan ; and Eder Rodríguez, Fleet Director Mexico at Stellantis ,  highlighted that this competition drives innovation  and that many automakers have already established strategic alliances with Chinese manufacturers. They also noted that soon there won’t be a single vehicle in Mexico without Chinese components.

In the panel  “Fleet Dynamics in Four Key Markets: Brazil, Argentina, Colombia, and Central America ,” Ricardo de Bolle, Director of Global Business Development at  Arval BNP Paribas Group ; Alberto Vélez, CEO of  AutoCorp ; Mirella Juárez, CEO and Founder of  Smart Mobility ; and Mauricio Serna, CEO of  Renting Colombia ,  addressed the region’s challenges in the transition to electromobility and other topics.

Among the main obstacles, they mentioned the lack of tax incentives and adequate infrastructure. They also indicated that the arrival of manufacturers like BYD in Latin America has contributed to expanding the supply of electric vehicles in these countries .

The panel  entitled “Mexico Fleet Management Outlook 2026”  emphasized that Chinese manufacturers are transforming the automotive landscape in Latin America.

Meanwhile, in the panels  AI and Technology for a Safe, Productive, and Profitable Fleet and Transforming Fleet Management: Real-Time Visibility, Proactive Maintenance, and Efficiency at Scale , experts agreed that Artificial Intelligence (AI) has become a key tool for improving fleet safety, efficiency, and profitability.

Looking to the future, the event made it clear that electrification, technology, and international collaboration are the pillars that will transform fleet management in the region.

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The regional automotive industry is going through a scenario of contrasts, according to Gerardo Gómez , Country Manager Director Mexico of JD Power , who during the Fleet Latam Summit 2025 explained that, despite the fact that Mexico reached a historic production of close to four million light vehicles in 2024 , today the plants operate at 70% of their installed capacity , with 80% of that production directed to the United States.

The specialist emphasized that more than 30 Chinese light vehicle brands have entered the Mexican market in the last four years , making the country a sort of incubator for testing local consumer acceptance.

However, he predicted that in the next three or four years, half of these brands will disappear or merge, in a natural process of market purification.

Regarding the global outlook, Gómez noted that sales fell in 2020 and that, despite the recovery, the industry has yet to reach the goal of 100 million light vehicles sold and produced annually, a milestone now projected to end in 2036.

The uncertainty generated by tariffs and trade tensions is keeping production at tight levels, he said.

Gómez emphasized that Mexico and Brazil currently account for 86% of the seven million light vehicles produced in Latin America, and by 2032, they are expected to account for up to 90% of regional production.

While Mexico is consolidating its position as an exporting country, Brazil stands out for manufacturing practically everything it consumes, with around 2.5 million units.

Regarding hybrid and electric vehicles , he highlighted that globally, 40% of sales in 2025 will be based on this technology, and that by 2030, the proportion will grow to six out of every 10 units.

However, JD Power’s projection for Latin America is that adoption will be more gradual: one in five vehicles by 2030. “Hybrids will be the natural next step, as the electrical infrastructure consolidates,” Gómez emphasized.

When addressing the light used vehicle market , he noted that in Mexico, only 2% of purchases were made entirely digitally, compared to the 45 million used units sold each year in the United States. The lack of reliable and trustworthy records in digital channels limits growth in this segment, although it also represents an area of ​​opportunity for the future.

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