Today, Piaggio Group (PIA.MI) and Santander Consumer Finance (SCF) has entered into a long-term global partnership for retail financial services to support Piaggio’s sales and dealer network.
Pontedera (Italy) y Madrid (Spain), 10 March 2022.
SCF becomes Piaggio Group’s new global partner for retail financial services. Through joint activities, the groups will harness the limitless potential of their collaboration and tailor a proposition to the strategic growth needs of all Piaggio Group brands: Piaggio, Vespa, Aprilia, Moto Guzzi, Derbi, Gilera vehicles.
In 2021, Piaggio Group sold 536,000 vehicles worldwide (+11% vs 2020), cementing its status as the leader in Europe’s scooter segment with a 22.7% share.
The exclusive partnership will first reach key European markets where Piaggio does not have a retail finance partner (i.e. Austria, Belgium, Netherlands, Greece, the UK and others). From 1 January 2023, it will expand to Italy, France, Spain and Germany.
Furthermore, SCF will support Piaggio Group’s growth in Latin America, the US and Canada in light of its vast footprint.
The groups also agreed to explore the possibility of extending the deal to all other strategic markets where Piaggio Group operates.