In the general election of 2000 it allied itself with the National Action Party (PAN) to create the "Alliance for Change" (Alianza por el Cambio). It was this PAN/PVEM alliance that carried Vicente Fox Quesada to his presidential victory. In the senatorial elections of the same date, the party won 5 out of 128 seats in the Senate of Mexico as part of the Alliance for Change.
The alliance broke down one year into Fox's administration and, in the July 2003 mid-term elections and various other local elections held since 2000 (in particular, the governatorial races in the important states of México and Nuevo León), the PVEM has allied itself more frequently with the Institutional Revolutionary Party (PRI). In this alliance it won at the last legislative elections, 17 out of 500 seats in the Chamber of Deputies.
Over the same period the party's support has dwindled amidst accusations of corruption, nepotism, and breaches of Mexican electoral law. Since securing its registration as a political party on 9 February 1991, it has been run by a single family: its first president was Jorge González Torres (a public official and former member of the PRI), who was succeeded by his son, Jorge Emilio González Martínez (currently a senator and nicknamed El Niño Verde, or "Greenboy"). On 3 September 2003 Mexico's top electoral court ruled that its statutes were in violation of the Constitution in that they allowed a restricted inner circle of members to select all the party's candidates and officials. Shortly after, on 10 October 2003, the Federal Electoral Institute imposed a multi-million dollar fine on the PVEM for campaign finance offenses during the 2000 presidential race.
A further scandal (one of the so-called "videoscandals") engulfed the party in the last week of February 2004 when a video was released in which Jorge Emilio González Martínez was recorded being offered and, while his reaction is open to interpretation, certainly not vociferously rejecting a bribe in the amount of USD $2 million. According to the video, the funds were being made available by two foulmouthed businessmen in exchange for his assistance in facilitating land use permits for a real estate development near the Caribbean resort of Cancún. (The municipality of Benito Juárez, in which Cancún is located, is currently governed by a PVEM mayor.)
On November 12, 2005, the PVEM formally nominated Bernardo de la Garza as its candidate to the 2006 presidential election, though he resigned on December 5 when the PVEM allied with the PRI. The candidate for both parties was Roberto Madrazo. In the 2006 legislative elections the party won 17 out of 500 seats in the Chamber of Deputies and 4 out of 128 Senators.