Background on Autofin Monterrey
Autofin Monterrey, a company with 46 years of experience in providing auto-financing in Mexico, plans to complete its financial ecosystem by launching a Multiple Purpose Financial Society (SOFOM) and a digital bank (Fintech) starting in 2026. This information was shared by Josué Garza Aldape, the Director General Adjunto of Autofin Monterrey, in an interview.
Investment and Digital Transformation
The company announced an investment of 60 million pesos over the next two years to create a comprehensive digital ecosystem, including artificial intelligence, a mobile app, and the digitization of documents. Garza Aldape explained that these changes aim to meet the demands of new, tech-savvy customers who expect quick services on their devices.
Garza Aldape emphasized that with a nationwide customer database, the financial products offered through SOFOM and digital banking would be highly competitive without increased risk. He explained that Autofin understands its customers’ compliance behavior, allowing for informed credit decisions.
Customer Base and Growth Projections
Despite global uncertainties and economic slowdown, Autofin Monterrey has seen a 12% increase in new car deliveries with financing plans from January to August 2023, totaling 2,560 units. The company projects a 13% growth by year-end, targeting 3,750 vehicles financed through the auto-financing model, valued at 1.35 billion pesos.
Although Autofin Monterrey operates in 26 states, Guadalajara accounts for 21% of its customers nationally and is the top location. Including Puerto Vallarta, Jalisco’s customer base represents 23% of the total.
Garza Aldape highlighted that Guadalajara holds the most crucial customer database for Autofin Monterrey, comprising 30-40% of the company’s data.
Future Outlook
Autofin Monterrey anticipates an 8-9% growth in auto-financing by 2026 once the entire digital ecosystem is operational. The company aims to attract customers to both SOFOM and Fintech.
Key Questions and Answers
- Who is Autofin Monterrey? A company with 46 years of experience in providing auto-financing in Mexico.
- What is Autofin Monterrey planning to launch? A SOFOM and a digital bank (Fintech) starting in 2026.
- Why is Autofin Monterrey investing in digital transformation? To meet the demands of new, tech-savvy customers who expect quick services on their devices.
- What growth projections does Autofin Monterrey have? A 13% growth in new car deliveries with financing plans by year-end, targeting 3,750 vehicles.
- What growth does Autofin Monterrey anticipate by 2026? An 8-9% growth in auto-financing once the entire digital ecosystem is operational.
What is the significance of Guadalajara for Autofin Monterrey? Guadalajara holds the most crucial customer database for Autofin Monterrey, comprising 30-40% of the company’s data.
