RCi financing grows 14.6% by end-June 2017

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To date this year, the automotive sector has grown by 4.4% in markets where RCi Bank and Services operates financing of Renault-Nissan Alliance vehicles, and Alliance brand volumes rose by 8.8%.

RCi

RCi financing grows 14.6% by end-June 2017

The group has steadily improved its overall penetration rate, according to figures supplied by RCi. At the end of June 2017, RCi’s overall penetration rate was 40.7%, a 1.3% improvement over the first-half of 2016.

RCi managed 724,577 contracts in the period to end-June 2017 compared with 634,929 a year earlier, a growth of 14.1%. Used vehicle financing contracts amounted to 158,049 contracts at the end of June 2017 compared with 135,376 a year earlier, a growth of 16.7%.

An increase in financing activities for both new and used vehicles enabled RCI Bank and Services to post strong growth in the volume of contracts, up 14.6% compared with the end of June 2016 (882,626 new contracts versus 770,305 contracts at the end of June 2016). The total amount of new financings reached €10.4 billion, a 16,7% increase over a year earlier.

Strong sales by Alliance brands and robust growth in the financing business has enabled RCI Bank and Services to sell nearly 2.1 million services in first-half 2017, an increase of 26.5%.

Gianluca De Ficchy, Chief Executive Officer of RCI Bank and Services, stated: “The volume of financing contracts rose 14.6%, while services sales increased 26.5%. These results generated robust profit margins. This success is the result of dedication at every level of the company.”

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Jonathan Musk

Jonathan turned to motoring journalism in 2013 having founded, edited and produced Autovolt - one of the UK's leading electric car publications. He has also written and produced books on both Ferrari and Hispano-Suiza, while working as an international graphic designer for the past 15 years. As the automotive industry moves towards electrification, Jonathan brings a near-unrivalled knowledge of EVs and hybrids to Fleet World Group.