Since 3 April, the two companies are acting jointly as captive finance provider in the credit, finance lease and private lease for all the automaker’s branded vehicles in eight European countries.
The consolidation as Stellantis’ key financing partner strengthens Santander Consumer Finance’s leadership in the European auto finance market.
Santander Consumer Finance expects its outstanding portfolio from Stellantis’ brands to reach up to €40 billion by 2026.
Madrid, 4 April 2023.
Santander Consumer Finance and Stellantis Financial Services have started to finance all Stellantis branded vehicles (Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS, Fiat, Jeep, Lancia, Maserati, Opel, Peugeot and Ram) in eight European countries: Belgium, France, Italy, Luxembourg, the Netherlands, Poland, Portugal and Spain.
The successful partnership that both companies established in 2014 has now evolved to the next level. Since 3 April, Santander Consumer Finance and Stellantis Financial Services are already acting jointly as captive finance provider in the credit, finance lease and private lease, the latter on a non-exclusive basis, for all the brands of the automaker within the aforementioned markets.
This new scenario allows Santander Consumer Finance to consolidate its position as Stellantis’ main financing partner and adds a significant number of auto brands to its existing captive finance business. The financial entity expects to reach up to €40 billion outstanding portfolio from the Stellantis’ brands by 2026, which would represent a c.30% increase compared to the close of 2022.
José Luis de Mora, CEO of Santander Consumer Finance, said: “After a very successful partnership during the last eight years, we are delighted to evolve our collaboration with Stellantis and extend the offering of our high-quality services and products to the dealers and customers from all its brands. These new operations we have just started will clearly boost our business and strengthen our auto financing leadership position.”
The relevant antitrust authorities and market regulators have authorized the execution of these operations through which the two companies are serving all customers and dealers in the eight countries included in their reshaped agreement.