Growth Opportunities in the Mexican Vehicle Subscription Market

Electrified Vehicles Represent Growth Opportunities in a Nascent Market

The Mexican vehicle subscription market is at a nascent stage, with a small set of competitors and a small number of light vehicles operating, despite forecasted growth based on the inclusion of electrified vehicles and strategies to reach clients and the inclusion of value-added services.

With 1,857 units operating in 2023, the Mexican vehicle subscription market is expected to grow 42% in 2024. Non-OEMs and start-ups are the key competitors in Mexico, with one key company achieving a market share of 70.6% in the Mexican territory.

This analysis covers multiple trends, including the expansion of digital services, the inclusion of used cars in the market, and the rise of both electrified vehicles and new competitors. The publisher expects the market will reach more than 2.6K vehicles operating in 2024. By the end of the period included in the study, the vehicle subscription market is expected to expand to 9K units in subscriptions.