During its first 18 months of operation in our Mexico, Toyota Material Handling Capital (d.b.a. “Toyota Capital”), the financial services company for forklift trucks of Toyota Material Handling North America, a subsidiary of Toyota Industries Corporation (TICO, has grown by more than 500 percent since its start of leasing operations in October 2013. Only in the first three months (Dec 2013) of operation in Mexico 350 assets were financed (forklifts, batteries, chargers, attachments).
"We had a very consistent progress thanks to financing and servicing one of the basic needs of businesses of all sizes with financial schemes that are innovative, accessible and adapted to the needs of our customers" said Eduardo Vega, managing director of Toyota Capital.
The market for forklift trucks in Mexico an estimated $ 700 – 900 million annual increase of imports of new and used material handling equipment.
By the end of May 2015, Toyota Capital has in its portfolio more than 1,800 assets it has funded since we arrived in Mexico, among other things because we cover a strategic operational needs for companies with the most suitable financial schemes to growth through operating leasing and finance leasing. With option to include in the monthly maintenance fee.
Toyota Capital provides financing for the purchase of new or used material handling equipment of the Toyota, BT, and Raymond brands; as well as options of operating leases and finance leases to suit the specific needs of each client.
"One thing on which we do not always stop to think about, is that virtually all products we see in the market were transported by a forklift truck at some point in its journey from production to our hands, having a fleet of forklift trucks in good condition is crucial to increase productivity of any company, regardless of their business or their size, " said Eduardo Vega.
Toyota Capital seeks to meet the need for companies to acquire or lease such equipment without compromising its liquidity. Through various financing options for the customers to buy or renew fleets, and capitalize other CAPEX investments as well. To have financing options to buy or lease equipment for material handling and industrial transport, it is crucial to maintaining the financial stability of companies in Mexico.
Also, updating and management of the forklift fleet to quickly move goods around is a determining factor in operational improvements at distribution centers and warehouses and is essential for companies as part of their differentiation against its competitors and its strategy of improved management of the supply chain.
Toyota Capital focuses on all sectors which use forklifts (manufacturing, retail/supermarkets, dry and refrigerated warehouses, food and beverage handling, furniture, product distribution, the medical/pharmaceutical sector, steel, multimodal and port freight management, 3PL/Logistics Administrators), and it offers a product portfolio which includes: Financial Leasing and Pure Leasing ranging from 12 to 60 months, for both new and used equipment.