ALD Automotive and its North American partner Wheels Inc have signed a new partnership agreement with AutoCorp, an Argentinean car leasing company, becoming the first international fleet management company to have a presence in the country.

Argentina is the third largest market in Latin America, behind Brazil and Mexico where ALD Automotive has been operating for more than ten years.

ALD added that the new partnership reinforces its presence on the continent and represents a step further after the recent openings of subsidiaries in Chile and Peru.

AutoCorp is based in Buenos Aires and has a national coverage, offering customised and efficient full service leasing to many multinational firms all across the country.

ALD commented that: “Leasing and long-term renting solutions are still little developed in Argentina due to structural economic conditions and high interest rates, but the recent political and economical changes will soon help to build a more favourable landscape.”

Stéphane Renie, sales & marketing director at ALD International, said: “We are eager to provide a complete solution to our customers in South America, and while we already have a presence in Brazil, Chile and Peru, Argentina still was a ‘missing link’ in our regional offering.”