According to figures from the Mexican Association of Automobile Dealers (AMDA) in the period January-August 2013-and desplazados- banks still had 35.2% of the credits for the purchase of motor vehicles.
A year later, in the period from January to August 2014, they had just 28.5 percent. In contrast, financial brand in the same period went from 57.3 to 64.7%; and the rest, between 6 and 7%, are self-financing companies.
After the severe drop that took auto sales in 2009 (over 30% collapsed), this 2014 have achieved a significant recovery.
In the first eight months were achieved record numbers (according to AMDA), when placed on the market 700.452 units. However, the file funded the eighth month of the year (more than 416,000), almost 65% was for financial brand.
From January to August 2013 but the same period of 2014, banks spent to fund 134.744 118.407 units, ie 16.337 units less, while brand lenders increased from 218.943 to 269.270. The autofinancieras have remained at just over 28,000.
Based on the report of the AMDA, the most affected banks in this period were BBVA Bancomer, which went from second place in automotive financing of all competitors in January-August 2013, the third in the same period of 2014 ; and Banorte, meanwhile, dropped from fifth to seventh in the table. The other bank is in the top 10 is Scotiabank.
In this period BBVA Bancomer stopped funding 18.307 units (down 27.1%); Banorte, 4,842 units (-17.5%), and Scotiabank, 2,870 (-10.4 percent).
In fact only three banks listed in the top 10 automotive financing; the rest are financial brand in the following order, according to figures from the AMDA: NR Finance (the sofom of Nissan and Renault); GM Financial; Volkswagen Financial Services; CF Credit Services; Toyota Financial Services; self-financing and self-financing Sicrea Autofin.
The fall in the share of banks in the automotive financing is partly because there is increasing financial brand.
Only in the last year Ford Credit and Finance Hyundai were incorporated. Before banks financed vehicles such marks.
Concerned
To Aureliano Garcia, director of Automotive Financing Scotiabank, this trend is something that should worry the banking sector in general, but explains that there has been growth in recent months in the bank he represents.
In an interview, he explains that this is due to the incorporation of new financial market, since, derived from the low sales that occurred in the first half of 2014 by the slowdown in the Mexican economy, they have had to support much more to automakers to achieve sales.
"Right now we are seeing brand financial schemes that are heavily subsidized, very low rates, but which are costing someone money. However, it is natural, it is the trend and is the raison d'être of a financial brand, "he says.
For Scotiabank, mentions that works as financial Mazda brand, but the idea is to operate as a financial global brand.
"This is to have the advantages given financial brand to brand you want to work with us," said the manager.
"Come the best months for credit to the automotive sector"
The economic slowdown in the first half of the year, generated in part by low domestic consumption was reflected in a reduction of credit for automobile purchases. However, for Aureliano Garcia Valenzuela, director of Automotive Financing Scotiabank, the slump is over; and there was growth in the rates and are the best months for loans of this type.
Data from the Mexican Association of Automobile Dealers (AMDA) report that in the period January-August 2014 vehicle sales exceeded 700,000 units, exceeding the pre-crisis figure. Of these, about 60% was sold through a financing.
"Yes there was (a slowdown in car loans). I think that from January to July saw one flat industry or even a little lower against last year, and right now as we see a clear growth ".
The management of Scotiabank explains that the automotive sector is one of the engines is driving the economic recovery, which adds to growing automakers come to settle in the country, and that should be reflected says, greater placement and supply credit.
"We see a strong recovery, we feel it is the sector which is reviving the economy, and we have been two very good months: August and September, and thought it must be a long cycle of growth for the industry, will hopefully be many years" expressed in interview the manager of Scotiabank.
Although banks have only just over a quarter of the market for car loans (28.5 against 64.7% of financial brand), Garcia Valenzuela stresses that Scotiabank is in second place among banks and fifth among top 10 players.
In the fiscal year just ended (last September 30), Scotiabank grew 3% in its product auto loans.
However, Aureliano Garcia believes that this percentage can easily be duplicated in the following year.
"We see it not only in domestic retail sales, but exports and production, and a very important indicator that we see is the investment being made in the country of various brands, indicating that there is faith in the market , who is recovering. Then we see him with much optimism, we feel very good things come "he says.
Scotiabank takes 17 years providing auto loans in Mexico and mentioned the manager, have done in good times and in bad. They are now focused on all segments, with rates ranging from 9.75 until 12.90% depending on the product. The default rate is less than 2% in this bank.
New Hoy No Circula, opportunity
Automotive Financing director of Scotiabank says that so far has not been increased vehicle sales in the Federal District for the new restrictions on the movement of cars in the capital. What it says is that it has detected more pre-owned sales outside Mexico City.
"Many people can no longer move here, sell your car in nearby cities where yes you can travel every day, and with that money tries to buy another here. We see an opportunity finally, because there is a vehicle fleet that can not move, "he concludes.
0 komentar