The two companies will continue to offer a high-quality service to dealers and customers by acting jointly as captive finance provider for all the brands of the automaker in Belgium, France, Italy, the Netherlands, Poland, Portugal and Spain.
As a result, Santander Consumer Finance will consolidate its position as Stellantis’ key financing partner and strengthen its leading position in the European auto finance market.
The aim is to increase the outstanding portfolio from Stellantis’ brands by 33% to €40 billion by 2026.
Madrid, 1 April 2022.
Santander Consumer Finance has reshaped its agreement with Stellantis to finance the vehicles of all the automaker’s brands in seven European countries: Belgium, France, Italy, the Netherlands, Poland, Portugal and Spain.
The successful partnership, which was established in 2014 to finance Peugeot, Citroën and DS vehicles, has now been enhanced. Within the aforementioned countries, Santander Consumer Finance and Stellantis will act jointly as captive finance provider in the credit, finance lease and operational lease for private customers, the latter on a non-exclusive basis, for all the brands of the automaker: Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS, Fiat, Fiat Professional, Jeep, Lancia, Maserati, Opel, Peugeot, RAM and Vauxhall. As part of the transaction, Santander Consumer Finance will sell its stakes in PSA Bank Deutschland GmbH, including its Austrian branch, and PSA Finance UK Ltd to BNP Paribas Personal Finance.
With the reshaped agreement, Santander Consumer Finance will consolidate its position as Stellantis’ main financing partner in terms of the value of the outstanding portfolio, aiming to reach €40 billion from the Stellantis’ brands by 2026, an increase of 33%. Santander Consumer Finance will also strengthen its leading position in the European auto finance market by adding a significant number of auto brands to its existing captive finance business.
After seven years of strong partnership with Stellantis, we are very pleased to expand our collaboration. We look forward to working together even more closely and continuing to support millions of customers. This reshaped collaboration clearly reinforces our leading position in the European auto finance sector.
The transaction should be completed during the first half of 2023, once the required authorizations have been obtained from the relevant competition authorities and market regulators.