08 Oct 2019
FCA Bank Dealer Services Maroc, FCA Maroc and WAFASALAF announce a retail financing partnership in Morocco, creating FCA Capital Maroc.
FCA Capital Maroc, a partnership among Fiat Chrysler Automobiles Morocco, FCA Bank Dealer Services Maroc and Wafasalaf, will provide FCA customers with innovative and attractive financing solutions in Morocco. The partnership will benefit from a double advantage: a global automobile expertise and leadership in consumer credit in Morocco. Thus, a unique purchasing experience will be offered to FCA customers in the entire Moroccan distribution network.
FCA Bank Dealer Services Maroc
FCA Bank is a 50/50 joint venture between FCA Italy S.p.A (a Fiat Chrysler Automobiles Group company) and Crédit Agricole Consumer Finance S.A. (a Crédit Agricole Group company), two strong players in their respective industries.
FCA Bank has a unique offering combining:
- a strong and widespread presence in European countries, and for 3 years in Morocco;
- support of brands appreciated by consumers including Fiat, Fiat Professional, Alfa Romeo, Jeep and Abarth;
- a wide range of dedicated and flexible financial products and services;
- continuous attention to customer relations.
Thanks to this approach, FCA Bank has today, in Europe, gained an important place among the largest players in automotive financing. In Morocco it is present with FCA Bank Dealer Services Maroc which is a direct subsidiary of FCA Capital Espana and has been operating since May 2016. "Our financing solutions meet the different needs of clients, whether they are dealers, companies or individuals," says Antonio Elia, Managing Director of FCA Capital Espana, who also manages the Moroccan and Portuguese markets.
Wafasalaf, a recognized expertise in the automotive financing market
Wafasalaf belongs to two major International groups. Indeed, it is owned by Attijariwafa Bank (51%) and Crédit Agricole Consumer Finance (49%). These two shareholders are both key players in their respective markets, and provide valuable expertise and support. Wafasalaf is the leading consumer credit provider in Morocco. It is also the market leader in automotive financing. The company is pursuing a long-term partnerships strategy, focusing on supporting automotive players in their commercial growth. To date, Wafasalaf finances nearly 25% of the credit purchases made in the FCA Maroc Network. The ambition is to increase this share up to 70%.
Thanks to its position and expertise, Wafasalaf will provide innovative financing solutions adapted to Moroccan consumers, and that will lead to a state of the art customer experience and improve the accessibility of FCA brand vehicle in Morocco.
What FCA Capital Maroc will offer to Moroccan consumers
The three parties will work together to develop products, services and marketing programs tailored to customer needs. Thanks to FCA Capital Maroc products, consumers will be able to choose, buy and finance their vehicle without leaving the Fiat Chrysler Automobiles dealer showroom. This upgrade will be enabled by the one-stop solution and the speed of the credit underwriting process. It is the result of the commitment of the three partners to innovate and constantly improve the quality of services delivered to Moroccan consumers. Through FCA Capital Maroc products, FCA will also enable its dealers to expand their product range and increase their competitiveness in the market. "By partnering with FCA and FCA Bank Dealer Service in Morocco, Wafasalaf confirms its commitment to continuously improve and simplify the purchase of vehicles for Moroccan consumers. The FCA Capital Maroc brand is firmly focused on expertise and performance, in terms of construction, distribution and car financing. It intends to contribute to the development of this strategic market for Morocco", commented Badr Alioua, Chairman of the Executive Board of Wafasalaf.
Casablanca, October 8th, 2019
FCA Bank is a bank engaged mainly in car finance, with the objective of meeting any mobility requirement also through its Leasys subsidiary. It is an equally-held joint venture between FCA Italy, a company of global car manufacturer Fiat Chrysler Automobiles N.V. and Crédit Agricole Consumer Finance, a company of the Crédit Agricole group, a leader in consumer lending. FCA Bank provides financing products to support the sales of prestigious automotive brands in Italy and in Europe. The credit, leasing, rental and mobility financing programs provided by FCA Bank are designed specifically for dealer networks, individuals and corporate fleets. FCA Bank operates through subsidiaries and branches in 17 European countries and in Morocco. At 30 June 2019, FCA Bank had a credit portfolio of approximately €27.7 billion.
For more information: www.fcabankgroup.com