“We will not raise prices in 2023”
Although Mazda has said it is not interested in fighting an incentive war to generate massive sales, price tag is key to higher sales.
Vehicle prices have increased around 15% in the last year -according to data from AMDA-, which has taken the most basic models above 200,000 pesos. Those who have a medium level of equipment already exceed 250,000.
The Japanese manufacturer recently launched a new version of the Mazda2, that costs less than 300,000 pesos, and this week it said that for the 2023 model year it will not raise prices on the other three locally produced models. those of Mazda3 they will remain between 394,900 and 524,900 pesos; those of CX-3 between 374,900 and 444,900 pesos, while those of CX-30 They will go from 487,900 to 560,900 pesos.
“How can we maintain prices when all inputs are rising? We are making economies of scale: higher volumes lower costs, and that allows us to maintain sales prices,” Barbeyto explained.
Barbeyto announced that in addition to the nationally produced models, they will also strengthen the portfolio with the arrival of three new imported SUVs: Mazda CX-50 will arrive in March 2023, Mazda CX-90 in May and Mazda CX-70 in summer 2023.
New financing schemes
Mazda is also preparing new financing schemes to be able to cover more customer profiles with its brand finance company, Mazda Financial Services, which today places 44% of its financed sales. The goal is to raise that percentage to 60% by 2023.
In August, the Japanese brand launched a credit product named Mazda First, aimed at young people between 18 and 25 years old, with a minimum monthly income of 6,000 pesos and who are looking to buy their first car or who want to build a credit history. Soon it will launch a loan type balloonwith which they seek to offer low monthly payments without the need to extend the terms.
More dealers
Mazda plans to open 32 new dealerships to reach 100 points of sale in the country by 2025, from the 68 it currently has.
“This expansion of the network will be carried out hand in hand with the partners with whom we have worked so far”, explained Barbeyto.
This year it will open four, in Manzanillo, Los Cabos, Piedras Negras and Veracruz, while next year it will open 16 more in Mexico City, Michoacán, Sinaloa, Guanajuato, Querétaro, Morelos, State of Mexico, Puebla and Oaxaca. It will also open 25 new collision centers to bring it to 35.
Mazda has a goal of closing 2022 with around 54,000 units sold, equivalent to 5% of the market. “We seek to reach our goal of 9% (market share) in three or four years,” Barbeyto predicted.
This will also give a boost to the Mexican market within the corporation, since it will go from being the seventh largest market for the brand globally among 113 countries, to being the fourth only below the United States, China and Japan.