The new Crédit Agricole Auto Bank is the result of a collaboration between Crédit Agricole Consumer Finance and the Stellantis group, announced in 2021. The institution will finance the purchase of new cars. At the same time, the bank plans to make 80% of its portfolio environmentally friendly cars.
The new bank will operate in 17 European countries and Morocco. The company intends to become an influential player on the European market in the field of "green mobility". The plan is to increase the value of financed cars to at least 10 billion euros by 2026. At the same time, by 2030, more than 80% of them should be equipped only with ecological engines with zero CO2 emissions.
CA Auto Bank offers comprehensive financing, insurance and leasing offers thanks to cooperation with more than 30 well-known brands such as Ferrari, Tesla, Mazda, Aston Martin, McLaren, Lotus and Morgan, as well as new players: VinFast, DR Automobiles, Aiways, XEV, ElectricBrands, Invicta Electric. In addition, the bank will finance dealers of other brands, including Stellantis, but to a lesser extent.
In the coming months, the bank plans to take over the activities of ALD in Ireland and Norway and LeasePlan in the Czech Republic and Finland, which are also controlled by Société Générale. This will allow CA Auto Bank to expand its fleet to over 70,000 vehicles.
According to the Auto Market Research Institute, financing the purchase of new cars significantly increases their sales. This is especially relevant in Ukraine, where, compared to the indicators of the European Union, the number of sales of cars on credit or leasing is extremely small. If a player appears on the Ukrainian market who can offer favorable conditions for potential buyers of new cars, this can significantly change the automobile market.
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