From this 1st July, BNP Paribas Personal Finance is entrusted with all Hyundai Motor France’s car financing activities.
Seeking a sole partner for Hyundai Finance and Hyundai Leasing, Hyundai Motor has chosen to work with a new partner from the 1st July 2018; BNP Paribas Personal Finance, leading European credit provider to individuals. The shared goal of this partnership agreement between Hyundai Motor France and BNP Paribas Personal Finance is to ensure the growth of Hyundai Motor in France.
Joining forces with BNP Paribas Personal Finance is the guarantee for Hyundai’s clients that they will be able to benefit from attractive finance offers. The brand distribution networks will also be able to profit from the offers intended for them, particularly stock management via personalised ‘wholesale financing’ offers, developed by BNP Paribas Personal Finance.
At the end of last year, a call for tenders was launched in order to ensure that only one sole partner would manage the two store brands Hyundai Finance and (B2C) and Hyundai Leasing (B2B).
Hyundai Motor France took the decision to work with the BNP Paribas group from the 1st July 2018: BNP Paribas Personal Finance for Hyundai Finance and Arval, already a partner of Hyundai in France for B2B long-term hire for several years, for Hyundai Leasing.
To ensure brand growth development in the French market, and to conquer new market shares in both the private sale sector as well as the company sale sector, Hyundai Motor France therefore decided to choose BNP Paribas Personal Finance to manage its B2B and B2C activities. This alliance will allow the brand to offer, particularly to its private customers, competitive finance solutions aligned with the evolution of consumption patterns.
For the 180 Hyundai network distributers, BNP Paribas Personal Finance’s expertise will be a major asset, assisting in the implementation of modern tools for offers and CRM while offering a complete range of automobile finance products: consumer loans, hire contracts, finance and insurance products for distributers, always aiming to enhance the client journey. As well as financing for private individuals, BNP Paribas Personal Finance will roll out its stock financing offers throughout its distributer network.
For businesses, the agreement will contribute to the continuation of the development with Hyundai Leasing, which reported a strong increase of +30% on 31st December 2017.
Hyundai registered 29,670 vehicles in France in 2017, a record penetration among broadline brands of 64.5% in the private market (national average of 48%) and a sustained, quicker increase, than the market for its penetration into the company vehicle sector.
"In a quickly-changing environment, the services associated with the automobile will be indispensable in meeting the mobility needs of those in France. We are therefore proud to join forces with BNP Paribas Personal Finance, a top-tier French and European partner, and are convinced that our complementary skills will make this new partnership a success, for our network as well as for Hyundai as a brand in France."
Lionel French Keogh, Directeur Général Hyundai Motor France
"This new partnership with an iconic manufacturer is recognition of our expertise of distribution networks. The combined experience of Hyundai and BNP Paribas Personal Finance in automotive finance will serve Hyundai distributers and customers well, and will support brand development. "
Christophe Michaëli, Director of BNP Paribas Personal Finance Automotive Market in France,
This agreement will come into force on the 1st July 2018. In the meantime, Hyundai will continue to work with CGI to offer the most competitive commercial offerings and to support the brand's sales in the second quarter.
Hyundai press contacts
Jean Nelson: +33 (0)1 56 05 67 57 / +33 (0)6 73 19 27 36 - firstname.lastname@example.org
Address: 26 Boulevard National - 92250 La Garenne Colombes [Tram T2- Les Fauvelles stop]
BNP Paribas Personal Finance
Valérie Baroux-Jourdain – +33 (0)6 43 95 60 23 – email@example.com
About Hyundai Motor France
A subsidiary since 3rd January 2012, Hyundai Motor France registered 29,570 vehicles in 2017, an increase of 5% from 2016. Thanks to its large range of reliable, innovative, economical and environmentally-friendly cars which perfectly meet the needs of its customers, Hyundai is now a broadline manufacturer. Each of the 15 models which make up its range; city cars, hatchbacks, monospaces and recreational vehicles, are distinguished by a unique level of comfort, an exceptional range of fittings, competitive prices and an unprecedented 5-year unlimited mileage warrantee.
But Hyundai in France is also an important distribution network with more than 190 sale and service outlets spread across France. Teams of professionals, passionate about the automotive industry, who understand that the most important part of their role is the welcome and the service which they bring to their customers. Hyundai Motor France currently employs 130 people and is continuing to grow its organisation.
About BNP Paribas Personal Finance
BNP Paribas Personal Finance is the leading consumer finance company in France and Europe through its consumer finance and home loan activities. A wholly-owned Groupe BNP Paribas subsidiary, BNP Paribas Personal Finance boasts over 20,000 employees and operates in approximately 30 countries. With such brands as Cetelem, Cofinoga, Findomestic and AlphaCredit, it offers a full range of personal loans available in stores, at automobile dealers or directly to customers through its customer relations centres and on the Internet.
BNP Paribas Personal Finance has rounded out its offer with insurance and savings products for its customers in Germany, Bulgaria, France and Italy.
BNP Paribas Personal Finance has developed an active partnership strategy with retailers, automakers, car dealers, web merchants and other financial institutions (banking and insurance) based on its credit market experience and ability to offer integrated services geared to the activity and its partners’ sales strategies. It is also a key player in the areas of responsible credit and budget education.