BBVA Mexico and GWM (Great Wall Motor) have a strategic partnership that will facilitate the Chinese automaker’s entry into the Mexican market.
BBVA’s automotive banking division has a 24% market share, consolidating its position as a leader in the sector of financial institutions that offer vehicle financing.
BBVA and GWM will join forces to strengthen the company’s presence in Mexico through its five brands: TANK, POER, ORA, HAVAL and WEY, which will be available at an attractive rate in the industry.
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BBVA and GWM to Boost Electrification in Mexico
Motor vehicles can be found equipped with internal combustion engines, but also in tune with the trend toward electromobility, new generation options are available, including the Hybrid Electric Vehicle (HEV), Plug-in Hybrid Electric Vehicle (PHEV) and Electric Vehicle (EV).
“We celebrate the arrival of Great Wall Motor in the country, which generates added value for customers looking for quality options and could represent a rebound per year for our institution of 12,000 to nearly 24,000 financed cars from China,” said Alejandro Cardenas Bortoni, General Manager of Corporate and Government Banking at BBVA Mexico.
The automotive company’s goal is to end 2023 with a distribution network of 40 points of sale located throughout the country.
In this context, it will offer a range of vehicles that will cover the most relevant segments of the Automotive Industry and will be powered by new generation engines.
“We are excited to join forces with BBVA Mexico to launch GWM Finance.” The executive pointed out that “this strategic alliance will not only simplify the way in which financing is obtained, but will also redefine the way in which customers interact with our brand and the ease of acquiring our vehicles in Mexico,” said Pedro Albarrán, Vice President and General Manager of GWM.
