BBVA Mexico leads the way in automotive sector financing with 1.2 million loans
BBVA Mexico manages a portfolio in excess of 50 billion pesos and now finances one out of every four automobiles in Mexico, making it the leader within the sector with a 25% market share.
Eduardo Osuna, Vice President and General Manager of the local bank, explained that this leadership is the product of an end-to-end business model focused on interaction with distributors, including the sales force as a key part of the equation in terms of profits and incorporating technology and professionalization among teams.
Meanwhile, Víctor Rojas, Head of Automotive Banking, explained that in last 10 years the bank has “granted some 1,200,000 auto loans, always placing its customers at the heart of the business [...] and bringing our portfolio to around 50 billion pesos.”
The nearshoring effect, he added, has helped make the country a key investment destination for assembly plants from the United States, China, South Korea, Sweden, Japan, the United Kingdom, France, Germany and Spain, among other countries.