New structure for financing and leasing services for stellantis. The group born from the merger of FCA and PSA has brought order to the leasing and hire-purchase sector, streamlining and reducing the number of companies operating at European level and rearranging joint ventures with partner credit institutions. This is how new organizations are born Stellantis Financial Services (formerly Banque PSA Finance) e Leasys (which consolidates the activities of Leasys and Free2move Lease), while FCA Bank – 50% partnership between FCA and Crédit Agricole – passes to 100% of the French bank and becomes Crédit Agricole Auto Bank. The competent Antitrust and market regulatory authorities, as one explains note, have approved the execution of these various operations.
“Today marks the birth of Stellantis Financial Services, a major player in European automotive finance, and the newly consolidated Leasys,” said Philippe de Rovira, Chief Affiliates Officer of Stellantis -. This simplification allows for superior agility to better serve our customers, marketing all Stellantis brands, strengthening competitiveness, leveraging different synergies. Now in Europe with a company we can offer all the brands of the group and in multi-brand leasing also some machines of the competition. Effectiveness and efficiency, also thanks to the adoption of single IT systems that are not different for companies and countries”.
Stellantis, the new structure for financing and leasing services
“Following the exclusive negotiations launched on December 17, 2021, Stellantis confirms the entry into force of its agreements with BNP Paribas Personal Finance, Crédit Agricole Consumer Finance and Santander Consumer Finance,” explains the automotive giant. Previously there were three financial entities and two leasing companies, for a total of five companies, which operated according to the states and the different brands that belong to the group. Now the new Stellantis structure provides for a single financial entity, Stellantis Financial Services, by country covering all Stellantis brands, in collaboration with BNP Paribas Personal Finance and Santander Consumer Finance. In particular, it operates with BNP in Germany, Austria and Great Britain, while in the rest of Europe the shareholder is Santander.
Stellantis and Credit Agricole Consumer then created a new company dedicated to multi-brand operating leasing, Leasys: an equal joint venture with Crédit Agricole Consumer Finance following the consolidation of Leasys and Free2move Lease. The goal is to become the European leasing leader by reaching a fleet of one million vehicles by 2026. In March, the joint venture also signed a binding agreement for the acquisition of the activities of Ald and LeasePlan respectively in Portugal and Luxembourg.
Stellantis strategy
The automaker's strategy, as outlined in the Dare Forward 2030 strategic plan, is to better leverage its financial services businesses, with the goal of doubling its net banking income by 2030 and its intermediation margin, moving from 2,9 to 5,8 billion euros. The chain has also been simplified both in the USA and in China.
Stock market performance and sales in the first quarter of 2023
Less lively session for the Italian-French-US automaker, which shows an increase of 0,59% to 16,77 euros per share in the aftermath of the data on sales of cars into North America and Europe. Stellantis has announced that it recorded a 2023% drop in sales in North America in the first quarter of 9, which represents about 30% of volumes and 60% of the group's EBITDA.
As for Europe, especially in Italy which is worth about 9% of the group's volumes, Stellantis recorded 58.986 registrations in March, up 35,37%, when the market grew by 40%. In France (about 11% of volumes), Stellantis saw auto registrations climb 26% to 57 units in March, while commercial vehicles dropped 14% to 14 units.
