Carlos Tavares, the boss of Stellantis, is betting on the growth of financing and leasing activities. STEVE MARCUS / REUTERS
The manufacturer has entered into partnerships with three banks: BNP Paribas, Santander and Crédit Agricole.
Stellantis is cleaning up after restoring order to its automobile financing and leasing business. After the merger with Fiat Chrysler, too many “captives» (organizations financing car manufacturers) piled up: PSA Finance with Santander, Opel Vauxhall Finance with BNP Paribas and finally Fiat Chrysler with Crédit Agricole. Not to mention the leasing activity, long-term rental for professionals. “Our organization was very complex. We had three captives in each country and two leasing brands. Each representing only its historical brands. Now only two entities cover our nine brands in Europe”summarizes Philippe de Rovira, the boss of the financing activity within the Stellantis group.
From now on, the Stellantis Financial Services brand will cover all automotive financing activities (conventional credit, rental with purchase option for vehicles, etc.).
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