Stellantis Consolidates Financial Services for All Brands

Posted on 2 April 2022 by Ken Zino

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.

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About Ken Zino

Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
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