Discourse by Pascal Serres: Latino-American Shipping Operations Structure
In a recent discussion, Pascal Serres, the Fleet LatAm Advisory Board Chairman, outlined the current state and key trends of the fleet market in Latin America, with a particular focus on the corporate car segment.
The corporate fleet market in the region is experiencing significant growth, driven by several notable factors. Fleet managers are increasingly adopting technologies to enhance fleet safety and reduce accidents. This includes the use of telematics, AI-based cameras, and specialized driver training programs using simulators. The aim is to mitigate the high incidence of accidents caused by human error, such as the 70% of car accidents in Mexico that are human error-related.
Another trend is the growth of the fleet insurance market, with top insurers showing a significant increase in market share and premium growth. The five largest insurers - Qualitas, GNP, Chubb, AXA, and HDI - control over 71.8% of the automobile insurance market, indicating consolidation and specialization in serving commercial fleets.
Vehicle theft remains a top concern for fleet managers, prompting investment in security and tracking technologies to protect corporate assets.
In terms of market segmentation and leasing companies, both large corporate fleets and medium-sized companies are showing growth and increased leasing activity. This is driven by the need for operational efficiency and risk management. Leading leasing companies and insurers have taken a strategic focus on corporate customers, providing integrated leasing, fleet management, and insurance solutions. However, specific company names dominating the leasing segment were not mentioned in the available data.
The growth in trade and economic activity in Latin America is also fueling demand for corporate fleets, particularly in sectors such as logistics, retail, and services, where fleets are critical to operations. In the first quarter of 2025, Latin America’s trade volumes, both import and export, increased by about 5%, signalling overall economic activity supporting the need for fleet vehicles.
The broader trend highlights an increasing usage of fleet vehicles equipped with advanced safety and telematics technology as part of corporate investment in fleet productivity and safety. While detailed data on leasing companies specifically was limited, this trend is a primary focus in the fleet market.
In summary, the corporate car fleet market in Latin America is characterized by growth driven by economic expansion, increasing adoption of technology for safety and security, and a consolidated insurance and leasing market that supports fleet operators. The biggest trends are the integration of telematics and AI technologies to improve fleet management and reduce risks, as well as a focus on leveraging leasing frameworks to optimize costs and asset utilization.
The corporate fleet market in Latin America is witnessing growth, with fleet managers adopting advanced technologies like telematics, AI-based cameras, and driver training programs to enhance safety and reduce accidents, particularly focusing on mitigating human error-related incidents.
Moreover, the fleet insurance market is expanding, as top insurers such as Qualitas, GNP, Chubb, AXA, and HDI show an increase in market share and premium growth, controlling over 71.8% of the automobile insurance market.
