Renault Mexico Announces Financial Breakthrough for Car Buyers
Jesus Gallo, General Director of Renault Mexico, confirmed that the French automaker will abolish the Opening Commission for credit purchases through its financing division.
Scope of the Change
This decision applies to all Renault models available in Mexico, ranging from the most affordable vehicle, the Kwid, to its lineup of utility vehicles including Oroch, Kangoo, Master (diesel), Kangoo E-Tech, and Master E-Tech.
Financial Implications
The elimination of the Opening Commission, a financial charge that can equate to approximately 2.5% of the loan amount, is part of Renault’s initiatives marking its 25th anniversary in Mexico.
Gallo expressed optimism that consumers would appreciate this move, anticipating growth in credit-based transactions. Currently, over 60% of Renault’s vehicles are sold through automotive credit.
Impact and Relevance
Renault’s decision to eliminate the Opening Commission is a significant step towards making car purchases more accessible. As one of the leading automakers in Mexico, Renault’s actions have a substantial influence on the market and its competitors.
Jesus Gallo, Renault Mexico’s General Director, emphasized that this decision was an intuitive and swift response to democratize credit further. The collaboration with Renault’s brand financing team played a crucial role in implementing this change.
Key Questions and Answers
- What is the Opening Commission? It’s a financial charge typically representing 2.5% of the loan amount, which Renault Mexico will no longer impose on credit-based car purchases.
- Which Renault models are affected by this change? All Renault models available in Mexico, including the affordable Kwid and utility vehicles like Oroch, Kangoo, Master (diesel), Kangoo E-Tech, and Master E-Tech.
- Why is Renault eliminating the Opening Commission? As part of their 25th anniversary celebration in Mexico, Renault aims to make credit-based car purchases more accessible and democratize the process.
- What percentage of Renault’s vehicle sales are financed through automotive credit? Over 60% of Renault’s vehicles in Mexico are sold using automotive credit.
