AUTO TODO.

Thank you very much Rodrigo for the invitation. Group Ohexim is the holding, through w Our has always been the one of the self-propelled, but from there we raise money to make investments in different industries. Sure, and they are making an alliance and that is what is interesting, Deciosa, self-propelled and Mexican self-totally. First of all, how is the Mexican self-propelled market? Because suddenly it seems that it is fragmented, but it is big, we are an important market. Let'say the data of references is sold in millions and a half of new ve But hey, how is the market? Well, the market, because also many people believe that the automotive industry, when it comes to automotive industry, is thought precisely in new ve But there is t And that is precisely where we participate. Aftermarket, what is interesting, especially because when you see, for example, a cabaco and the evaluation that it reached, that it is precisely in the sector of the ve And how is it in the structure? I mean, I know that there are great players, you are one of them, but how much is it fragmented and how much space is there to consolidate those parts that are. . . Well, look, it is fragmented a lot. Basically, it is composed of the great distributors In Mexico, un So, your car is composed, they finish in a workshop. And that is finally the final cons Yes, it is totally fascinating. I didn't know that it was 60 thousand. And in what cycles it moves? I mean, are there cycles or is it permanent? Well, look, I have always said that cars have no word of honor, they are decomposed when they are decomposed. So, fortunately, we are, we are a counter-cycle industry, because there are crises, so people, the first t And what do they repair what they have? There are times of violence, because the ve So, we are a very counter-cycle industry. And now, the part, because in t How does that play in t Because obviously they need the same repair, perhaps even more accelerated. Well, it is that it is a, unfortunately for the owners of the vehicles, chocolate is a trick that is not realized, because they are basically the largest cons The car is very cheap, but it turns out that we will see, they have to be investing money constantly in refactions and repairs. And now, what is the name of the game? It is to say, it has a channel of 100,000, very fragmented, as you say, not necessarily its final cons And what are the strategies that I made in Finen and how t Well, look, we are really doing that, glutinating the existing infrastructure, because finally, we are already with the alliance, with Autotodo, we have a channel of 9,000 refactionaries to w And what we are doing is, we are going to professionalize that infrastructure, to form the network of distribution of the most powerful parts of the country, and I would say of Latin America. So, instead of making t Sure. What is the pain point, let'say, of the sale point of the workshop? Of the workshop or of the refactionary? Of both, but. . . Because you can say both? Of both, yes. Well, look, the workshop, starting from the bottom up. What is the problem with the workshop? That for So, you need to be quick in the parts to be able to take your car and put the one that follows. And in the case of the refactionary, mainly, w Yes, we are one of the most competitive markets in the world, there is practically everyt Now, how much the credit is important for both components, for workshop and refactionary? Well, it plays the refactionary because it doesn't have any space or capital to have those 25 or 30 thousand parts and for the mechanic, because in the end what matters is to charge the repair and then pay everyt So, yes, the credit is an important factor. Now, there is the trend, it remains stable in terms of that we do not fix our cars, our cars, in the same way, in the United States, that there has to be, obviously, the price, that as happens in the gas stations and in many other things, but there is a change of trend or it really looks Look, the trend is not that, it seems to be going to stay, but the trend is changing towards changing complete parts of the cars, that we no longer have to repair them. And how much the sop Exactly, that's why now they repair or change the complete part, w And about the cost of cars that are in Mexico, what percentage are imported, how many are national and how do you play that part? It is interesting, in Mexico, mainly what is manufactured of cars in Mexico is for Tierhwan, I would say 99% is for Tierhwan. There are some great manufacturers And then everyt Yes, especially because in the end, you transfer that to the cons They come from Asia or from C Now India is starting to play more and more, but I would say that C And from the United States? No, from the United States, the truth is that, for the price, it is not competitive in that sense. Now, the 9000 sales points, let'say, w In the 9000, w Look, basically, together with the acquisition of Autotodo, we also acquired a technological application, what it will be that we can give these technical references? Basic technology, such as ERPs, but above all, the part of understanding where the inventory is, the demand we are going to know, we are going to know where the inventory is, and t So, what you said, and it is that if you have to have an inventory of more than 20,000 parts, if you could have it added up, because the demand, even Mexico City, w You stop selling it. And what are the margins of profits? Well, look, a refactionary is typically used to see 30% on the cost, and a workshop that, I do not want to burn here that grime, but they say they do not raise it, if they raise it between 10% and 15%. That is important, you have to know, but you have said somet And actually, because the name of the game is that it is occupying space, and the more rotation, the better, because it is more flow, and then you are having more income. Jorge, I must make a cut, but I would ask for your time to talk a little more about t So this is an image in the business, and this morning is here in the studio, Jorge Ugenin, the president of Exim Group, and you are telling me, Jorge, that it is a market of the auto parts of 30,000 million dollars, it is very large and very pulverized, that we already said in the last block, and how much is there, let'say, the part, because there are qualities, and that is also key, obviously what you are looking for is a better contact to have the guarantee of creating the final cons There is a good channel, by the way, I am also remembering that I have seen a lot, and it has become very famous, that says, partner, I'll show you now, and then it has a workshop, and there you realize, in Spain, of all the intestines that have a car, and how they do things well and they do very badly, and one as a cons Yes, indeed, it is a gray industry, because the truth is that we are, as an industry, children of a bad experience, I have never seen anyone celebrate that the car was broken and that it was going to go to a workshop, so what we have to create, and we are working on this, is an ecosystem of confidence, basically you, as the owner of a vehicle, you are decomposed, you go to an application, you go to a certified workshop, and that is the guarantee that you will have your car back quickly and well repaired, that is what really matters to an automobile maker, because in the end, as you say, Sure, now, what is changing so much, or is it going to change, because you are seeing it more in Europe, with hybrid and electric cars, and how that changes the ecosystem? It is not very clear what speed that is going to advance in Mexico, especially the electric ve There are two great discussions on the subject, especially the electric cars, because in the end the hybrids are also electric cars, but there are two great discussions, the infrastructure to charge them, in Europe, for example, in the middle of the street, who is going to put the chargers to charge those ve Exactly. Then, because we also studied it in a very specific way, I believe that Latin America is going to take, if that is to be done, at least 15 or 20 years in w Yes, and that is going to generate an interesting phenomenon of the business in which you are, because obviously this is changing, because I have just paid a lot of attention in your speech now in the Republican Convention, and the one that gave this weekend to Donald Tr Normally, it would be that those internal combustion ve Yes, in the end I believe that the battle between hybrid and electric cars are going to win the hybrid cars, and that seems good to me from the point of view of pollution, but in the end, for us as an industry, it changes very little, because the hybrid cars have a combustion engine, apart from the electric ones. What is the dimension of the operation that you are doing with the car? Well, look, this year we are going to close with a $300 million invoice, we are looking to duplicate the size of the company for the maxim Now, in t . . What is the cost of the financing for the growth? It is very interesting. It was such an obvious operation, let's put it t So we did everyt And the market projection, you already wanted to duplicate the counter-cycle in terms of when there is a crisis, the business grows more, the cars are less decomposed. Now, what is the final cycle of the automobiles? And geograp How does that part look? Look, we are already operating in Colombia and Costa Rica, they are quite different markets, but in a way, Latin America, except Brazil, seems to be very much in operation. So if we are t It is very interesting, Costa Rica is a very educated market, Costa Rica, for example, prefers that you put the original parts, and not be playing with spare parts, Colombia seems to be very much in Mexico, although it is also a market more demanding than the quality, but it seems to be very good. So, for example, a city of Mexico, Guadalajara, Monterey, big cities, Tijuana, Imagine it should not be bad, is it better to read the mechanics, would it vary? There are more or less 100,000 workshops in Mexico, and I t As for the parts, there is space to have Mexican players, because you already said that they are all for Tier 1, 99% for the manufacturers of new cars in Mexico, but the logistics from Asia and how it is being carried out, let'say, at the end of the week, the secretary said, we are going to review our trade with C And I t Competition with C But I t Fantastic, Jorge, Congratulations for the operation. We heard Jorge Ugenin, the president of Exim Group, t