RCi financing grows 14.6% by end-June 2017

By / 1 year ago / News / No Comments

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 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.”

For more of the latest industry news, click here.

Related Posts

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.