Among the most popular current cars of 2022 are models from KIA, Nissan, Toyota and General Motors among others.
According to INEGI data, less than half of Mexicans can access a car through brand prices.
For Mexicans, purchasing power has become a big problem, since an increasingly smaller percentage has access to buy several of the popular cars of 2022 and 2023.
And it is that despite the fact that Mexico is considered a power in terms of automotive exports, the truth is that very few people and even entire families have enough income to buy a car.
As a reference to understand the purchasing power in Mexico, we could take the National Survey of Income and Expenses in Households 2020 of INEGI, which recognized that there are 10 income levels in the country, per household, of which not even half can access up to income level 7. Income level 6 yields, per person, 13,369 pesos of monthly salary, while family income does not exceed 40,108 pesos per month.
This contrasts with the proposed level 10, which shows that a single person receives 54,427 pesos, but per family 163,282 pesos. In many cases, this family figure represents the hitch of one of the new generation cars.
best sellers
Despite these data, the Mexican Association of the Automotive Industry (AMIA) ensures that so far in 2022 close to one million 884 thousand 262 copies of the latest generation have been sold.
Of these, we highlight that in sales matters, some of those that have most covered sales in the country have been, as appropriate:
- SUV’s: 622 thousand 818 pesos (33.1 percent of the market)
- Subcompacts: 485,658 (25.8 percent)
- Compacts: 368 thousand 220 (19.5 percent)
- Pitch Ups: 310 thousand 767 (16.5 percent)
- Luxury: 52 thousand 845 (2.8 percent)
- Minivans: 34,923 (1.9 percent)
- Sports: 9 thousand 132 (0.5 percent)
Some of the models that stand out among these sales are:
- Nissan Kicks, Nissan March, Nissan Versa, Nissan Sentra, Nissan NP300
- Kia Seltos
- General Motors Aveo, General Motors Tornado Van
- Toyota Hilux DC, Toyota Prius, Toyota Camry, Toyota Sienna
- SEAT Leon
- Mazda Mx-5
How difficult is it to acquire the most popular cars of 2022?
Through an exercise carried out by the Merca2.0 Research Department, it was sought to identify the purchasing procedures of several of these models, the costs, the economic accessibility of Mexicans and the existence of the copies. In addition, we sought to know how long it takes to acquire them and we tried to find out if there is a waiting list.
For this experiment, the best-selling copies of three sales segments were taken into account: SUV’s, Compacts and Luxury.
These were the segments consulted according to the two best sellers of each:
SUV’s
The brand was taken into account first. KIA with the Seltos model. In this case, it had to be considered that it is necessary: both for Individuals and for Individuals with Business Activity to have proof of identity or, in the case of being a foreigner, with a migratory form. Among other things, buyers are required to provide proof of income, proof of address and credit documentation (credit application, credit bureau consultation authorization and quotation).
On the other hand, for Legal Entities, proof of identity of the legal representative and endorsement is required, the registration of the RFC granted by the SHCP, a constitutive act, the power of attorney with the RPP stamp and proof of income.
The prices of some of its SUV’s models, the Kia Seltos EX TAFor example, the price is around 433,900 pesos, almost half a million, with a down payment of 86,780 pesos. Meanwhile a GT LINE costs 520 thousand 900 pesos.
The procedure to acquire a financing plan, according to what was commented, is through a quote request with the distributor. After that, a credit bureau verification must be carried out. Subsequently, a review of data, references and verifiable income must be carried out to finally authorize it.
compact
In the case of compact models, promptly asked about the Nissan Versa and Nissan Sentra models. The prices of these two copies range from 303 thousand 900 and 379 thousand 900. Likewise, the Nissan team confirmed that the requirements when acquiring both copies are to have a valid official identification, proof of address not exceeding 2 months and also proof of income.
To mention something, among the quotes of the nissan sentraFor Individuals, the monthly payments start at 5,832 pesos, while for Moral Persons, the packages start at 8,450 pesos. For Business Individuals, the monthly payments start at 8,774 pesos.
In the first case, it must be quoted within a period of 36 months with an interest rate of 13.18 percent. For this, however, a down payment of approximately 149 thousand 521 pesos. However, there are down payment models such as the traditional credit CREDINISSAN: In new cars, a down payment of 15 percent is requested for up to 72 months of financing.
Deluxe
For the case of toyota prius the requirements are not that different, because in the same way it is required to have one to have a valid official identification, proof of address not older than 2 months and also proof of income.
The prices are according to the model that is required, which are from the base of 448 thousand 100 pesos, going through Premium of 506 thousand 800 pesos and Bi-Tone of 518 thousand 400 pesos.
Accessibility and protection of personal data
In addition to customer service by phone, with the aim of providing as much detailed information as possible, all brands have a privacy notice on their page, with the aim of collecting personal data and being able to provide specific aspects of requests.
Data related to the demand and the existence of the product were not revealed, however, the quotes on the Internet can be made without major problems.
Conclusions:
Although the prices that are presented to a large extent correspond to an accessible budget for a large number of Mexicans, the truth is that the vast majority do not have the ability to buy cars with such a high budget. In some cases, even paying the down payment costs the same as buying a car in the “pre-owned” section, for example, from the Mazda brand.
Considering that few companies have an accessible down payment model and monthly payments with low percentages, in contrast to the average salaries in Mexico, it is very difficult for an employee who does not have a management position perhaps to acquire a state-of-the-art car.
Now read:
Good End misleading practices, trends detected by the consumer
They dismiss economic blow by avian flu; more inflation worries
Delivery time will define the transactions in Good End
The Consumer’s Guide to Good Eating; Profeco’s favorite brands