The Mexican government has launched the 'Renove' program to strengthen the heavy automotive industry. The project will be registered under the Quality Infrastructure supplement this May, followed by the establishment of working groups that will culminate in the issuance of a standard. In parallel, work is underway to update estimated prices for used vehicles. In this context, the SHCP and the industry are collaborating to adjust these prices to fair levels, thereby ensuring healthy competition and strengthening the national automotive market. Under this scheme, companies will be able to deduct the purchase of assets such as trucks and cargo units in a single year, rather than gradually over several fiscal periods. According to the information presented, a vehicle with an approximate value of 3 million pesos can deduct up to 86% in the first year, representing a tax benefit of close to 2.58 million pesos. This mechanism aims to accelerate investment decisions, facilitate fleet renewal, and improve the competitiveness of the transport sector. Financing and Credit Access The program also includes the reactivation of a guarantee scheme, in coordination with development banks, to facilitate access to financing. With an initial fund of 250 million pesos, the scheme could multiply the available credit by up to 16 times, potentially translating into up to 4 billion pesos in financing for the acquisition of heavy vehicles. The main objective is to benefit micro, small, and medium-sized transport enterprises, which face greater barriers to accessing credit. Market Order and Industry Strengthening In addition to fiscal and financial incentives, the plan includes regulatory measures to prevent market distortions, particularly from the import of used heavy vehicles. Key actions include: updating estimated import prices, new safety standards for vehicles, and reorganizing the guarantee scheme. These measures aim to ensure fairer competition and promote national production. Social and Environmental Impact The program also has a social and environmental component. The federal government has activated a new front to strengthen the heavy automotive industry. At the president's direction, the Secretary of Economy, Marcelo Ebrard, presented the 'Renove' program, a strategy combining 250 million pesos in direct investment and 2 billion pesos in tax incentives to renew the transport fleet in Mexico. The plan is part of the 'Mexico Plan' and aims to stimulate the purchase of new heavy vehicles, reduce the average age of the vehicle fleet, and reinforce an industry that generates around 200,000 direct and indirect jobs in the country. Immediate Deduction and Tax Incentives One of the program's cornerstones is a key tax incentive: the immediate deduction of investments. This regulation will require units to have essential elements such as seatbelts and appropriate seats, mirrors and indirect vision systems, optimized lighting and controls, as well as headrests and safety indicators. The relevance of this NOM is clear when analyzing the impact in figures: 30,000 accidents involving heavy vehicles are recorded annually. This regulation aims to prevent the sale of units that could endanger people's integrity while simultaneously achieving a significant reduction in environmental damage. Currently, the import of these units is subject to prices published by the Ministry of Finance and Public Credit (SHCP); however, it has been detected that these operations are frequently carried out under undervaluation conditions. According to the Ministry of Economy, fleet renewal will: improve road safety for drivers and pedestrians, reduce pollutant emissions, and increase the efficiency of freight transport. Furthermore, strengthening the sector will help protect the income of thousands of families dependent on this industry. Implementation and Access Interested companies must comply with the guidelines of the Mexico Plan decree and submit their application to the Ministry of Economy, which will accompany the authorization process. The government envisions this scheme as a pilot program, with the aim of measuring its impact and eventually expanding it. Towards a New Regulation of the Automotive Sector in Mexico As part of the strategies presented to strengthen security and competition in the automotive sector, the Government of Mexico, through the Ministry of Economy (SE), has announced the creation of a new Official Mexican Standard (NOM) focused on the minimum safety devices for new heavy vehicles. This phenomenon distorts the market for semi-new units and, consequently, limits the sale of new vehicles. Additionally, this sector emits between 6 and 8 million tons of CO2 per year.
