Stellantis Finance Unit Ramps Up
More and more dealers signing onto captive service.
More and more dealers signing onto captive service.
IMAGE: Stellantis
Roughly 60% of Stellantis’ more than 2,600 U.S. dealerships have signed on to the carmaker’s captive financing service since it started doing business after Stellantis’ 2021 acquisition of F1 Holdings Corp., Automotive News reported.
At least some of the dealerships still also use other lenders in addition to Stellantis Financial Services.
Captive lenders are an industry standard as automakers try to increase sales and keep costs low for themselves and their dealers, the publication said.
Stellantis is the result of the 2021 merger of Fiat Chrysler Automobiles and PSA Group, and many of its dealers have been handling most of their financing through Chrysler Capital.
The carmaker told Automotive News that the financing unit “offers a full suite of retail loan products, having launched prime and near-prime loans this year.” Its offerings also include fleet financing.
Originally posted on Auto Dealer Today
More Industry
World EV Adoption Set to Grow
A new report says the segment, despite recent setbacks in some regions, is poised for acceleration as many countries look to reduce pollution.
Read More →
Black Book: Weekly Market Update
Wholesale automotive auction business stayed steady last week as bidders encountered lower prices, analysts observed.
Read More →
Pricing Transparency Drives Purchase Consideration
An annual study by JD Power found that clear pricing matters to consumers on automaker websites, so much so that it increases their purchase consideration.
Read More →
Black Book: Weekly Market Update
Used-vehicle market depreciation was the prevailing story in the wholesale market last week.
Read More →
Smaller Is Looking Better
A growing number of Americans in the market for a new vehicle are opting for more affordable options, not waiting for market stability to bite the bullet.
Read More →
U.S. EV Market Slowly Stabilizes
U.S. electric-vehicle interest is slowly stabilizing since a major dip in sales after last year's end of the federal EV tax credit, and hybrids remain the leading electrified power train.
Read More →
Global EV Market Entering New Phase
Automakers are making investments to lower battery costs and optimize production to meet changing consumer needs.
Read More →
Black Book Weekly Market Update
The holiday weekend, not surprisingly, put a drag on wholesale automotive activity last week, analysts observed.
Read More →
Auto Affordability in Context
Cox Automotive points out the complex circumstances that have led to eye-popping vehicle prices.
Read More →
Black Book: Weekly Market Update
Automotive auction inventory increased last week, giving choosy bidders even more leeway.
Read More →