Renting Automayor ranks among the largest companies in Colombia in terms of the services it offers. How has demand for these services changed?
Renting Automayor is not one of the largest companies, though it has seen an important growth in market share. The operating lease industry in the country has evolved significantly, especially in the last four to five years, due to several factors such as the termination of government benefits to SMEs in the accounting of finance lease operations. It formerly allowed for the accounting of such operations as operating leases. This allowed even great global players to enter the market, which lent it more dynamism.
What are the benefits of the fleet management services you offer, and who are the potential customers of this service?
Potential customers are companies that already have several vehicles as fixed assets to serve their core business. They are not transporters, but industrial businesses requiring vehicles to distribute their products or services. We provide such customers technical efficiencies like maintenance, leading to better profitability and efficiency levels.
How do you stay competitive amidst the entry of international players that offer similar services?
This will always be a challenge. We are not necessarily a niche company, but serve several market segments, where for each of those segments we have to define products and services that match those customer profiles.
Have you identified any services that you currently do not offer that you plan to offer in the future?
Definitely. Identifying new services is a permanent effort within the company, and we have a dedicated committee and pursuing the matter of improving a current service or creating a new product or service.
You talked about the importance of strategic alliances to meet demand. How many alliances does Renting Automayor have?
The operating lease (renting) business increasingly requires closer strategic allies. We prefer not to call our suppliers as such but rather strategic allies since we try to combine services that we do not necessarily offer through third parties. 6