These loans could drive a 20% rise in clean car sales in Mexico.
Mexico City, 2 July 2026.
Banco Santander México expects 2026 to be a historic year for clean car loans, with growth of up to 35% in its electric and hybrid vehicle loan portfolio to mirror the growth of sustainable mobility in Mexico.
This forecast comes amid sustained growth in Mexico’s electromobility market. According to Mexico’s Electromobility Association (EMA), sales of electric vehicles and pluggable hybrids grew 262% between 2022 and 1Q’26, with over 25,000 units sold in the first quarter of this year alone. And between January and April 2026, around 78,700 vehicles with some form of electrification were sold in Mexico, which was 12.74% of total light vehicles sales countrywide.
Against this backdrop, Santander México is estimating 35% growth in its clean vehicle loan portfolio in 2026, underpinned by partnerships with manufacturers and distributors, special green mobility terms and conditions, and digital loan origination.
“2026 could see an all-time high in hybrid and electric vehicle financing and a turning point in the promotion of more sustainable mobility. At Santander México, we’ve spotted a clear opportunity to offer consumers special terms and conditions to foster the energy transition of vehicles”, said Santander México’s Executive Director of Automotive Financial Services, Alejandro Vázquez.
“The electrification of cars in Mexico is beginning to take shape. Nowadays, we have several things in place that didn’t even exist a few years ago: more models, more charging infrastructure, better informed consumers, and a growing number of banks helping people get access to this technology. These are key conditions to ramp up the adoption of electric mobility in Mexico”, said Eugenio Grandio, Chair of the EMA.
Grandio singled out what makes this year a stand-out period for electric and hybrid vehicles in the market: over 170 electric car models on offer; over 60 pluggable hybrid models; charging infrastructure growing 26% year on year; savings of up to 55,000 pesos per year; and a more environmentally conscious population.
Santander México estimates that half of the people who have bought a clean vehicle on finance in Mexico have done so through a car loan with a bank, which reflects huge potential that cannot be ignored. And as part of the sustainable mobility drive, the bank has forged ties with well-known hybrid and electric car brands to offer special rates.
For Santander, the next challenge will be to expand green finance further to outside of the main urban centres, where there is growing demand for electrified vehicles as charging infrastructure increases.
According to Santander México, the chance to grow is nationwide, as green mobility extends beyond Mexico City to several regions.
This strategy is helping the bank strengthen its commitment to innovative finance, sustainability, and solutions that meet its customers’ mobility needs.
