Toyota Capital, the financial arm of Toyota Material Handling North America, is monitoring the growing Mexican market.
The business features as the only forklift truck leasing company in the Mexico Automotive Review 2015, ahead of the Automotive Summit in Mexico.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Toyota Capital said it had been experiencing steady growth in the Mexican forklift truck market, with operating leases and capital leases for Toyota and Raymond brands of forklifts all sizes and capabilities required for manufacturing, retail and logistics sectors.
The company has focused on the leasing of Toyota and Raymond brands; the two leading lift truck brands in the world market for its quality and performance.
Toyota Capital customers in Mexico from the automotive sector, are leading companies original equipment manufacturer’s assemblers of light and heavy vehicles, as well as direct and indirect suppliers, aftermarket and the auto parts logistics sector.
Eduardo Vega, managing director of Toyota Capital said: "A decisive factor for a company in deciding whether to lease or buy an asset is the availability of capital. Leasing is useful in maximizing the benefits of cash and maintaining liquidity and solvency. In the case of the global automotive industry, the actors in the value chain have established as a best practice, the leasing of its lift truck fleet.
"Toyota Capital offers a decisive advantage in that banks traditionally do not engage in operating leases. Another reason to consider an operating lease is to eliminate the problem of selling a used lift truck when it is time to replace it with a new one and/or switch to a different capability lift, if the conditions of their material handling requirements change" Vega said.
