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A blossoming partnership: An inside look at Santander’s deal with FCA

From the October feature: Since revising their financing alliance this summer, Santander Consumer USA and Fiat Chrysler Automobiles appear to have smoothed the speed bumps that had hindered the Chrysler Capital partnership for years. The original partnership had consistently been weighed down by missed penetration rate targets. Quarter after quarter, Santander would cite “the competitive […]

Santander drives up Chrysler Capital penetration rate, shuffles leadership

Santander Consumer USA increased its Chrysler Capital quarterly penetration rate as a leadership change will have Shawn Allgood head Chrysler Capital and auto relationships, the company announced in its second-quarter earnings.  Chrysler Capital’s quarterly penetration rate grew to 36%, compared with 32% during the prior-year period. Loans originated by subsidiary Chrysler Capital increased 25% year […]

Santander salvages Chrysler agreement with FCA $60M payment

Santander Consumer USA has paid $60 million to Fiat Chrysler Automobiles Group to amend a private label financing agreement whose future had been uncertain for the past year.  The modified pact between SCUSA and FCA adjusts specific performance metrics, exclusivity commitments and payment provisions under the agreement, according to the filing of an 8-K with […]

FCA Proposed Merger With Renault Could Lead to Captive Discussions

Fiat Chrysler Automobiles’ merger proposal to Groupe Renault is likely to lead to discussions of creating a captive finance arm to “support the level of volume the new organization could attain,” Zohaib Rahim, manager of economics and industry insights at Cox Automotive, told Auto Finance News. “Last year, [former FCA Chief Executive] Sergio Marchionne mentioned […]

Santander Originations Climb 10% Amid Discussions With FCA

Santander Consumer USA originations climbed 10% year over year amid "constructive and positive" discussions with Fiat Chrysler Automobiles Group "focused on optimizing the existing contract that we have in place," SCUSA Chief Executive Scott Powell said during the company's first-quarter earnings call this week. Powell noted that the discussions have “moved away from the sale of […]
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