Stellantis Consolidates Financial Services for All Brands

Stellantis (NYSE / MTA / Euronext Paris: STLA) has signed binding agreements with BNP Paribas Personal Finance (“BNPP PF”), Crédit Agricole Consumer Finance (“CACF”) and Santander Consumer Finance (“SCF”) reorganize its current financial services platform in Europe.

All these are supporting Stellantis’ desire to develop a full-service captive finance arm. To provide customers, dealers and partners with a complete range of financing options in the near-to-medium term, including retail loans, leases, and floorplan financing. (AutoInformed: Floorplan – Stellantis Buys First Investors Financial Services. First Investors has been renamed Stellantis Financial Services US Corp.)

“I am very pleased to confirm the signing of these agreements with our historical European banking partners,” said Carlos Tavares, Stellantis CEO. “Our strategy is to better leverage (sic) our financial services arms, both in Europe and North America, with the aim to double our net banking income by 2030.*

These latest agreements support the financial services commitment that is part of Stellantis Dare Forward 2030 strategic plan. (AutoInformed: Stellantis Claims Record First Year with €13.4B Net Profit; Stellantis to Repay Early €6.3B Fiat Credit Facility; Finally – First Jeep EV Teased by Stellantis) Specifically:

• Creating a multi-brand operational leasing company in which Stellantis and CACF each hold a 50% interest, resulting from the combination of the Leasys and Free2move Lease businesses, in order to become a European leader, with a fleet target of around 1 million vehicles in 2026.
• Reorganizing the financing activities through joint ventures set up with BNPP PF or SCF in each country to manage financing activities for all Stellantis brands.

The transactions should be completed during the first half of 2023 once the required authorization has been obtained from the relevant anti-trust authorities and market regulators.

*Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys.