Vauxhall Finance merger creates Stellantis Financial Services UK
As part of a group restructure, Vauxhall Finance plc and PSA Finance UK Limited merged on 4 April 2023 to create one strong and exclusive captive finance company in the UK for all Stellantis motor vehicle manufacturers (including Vauxhall). Stellantis Financial Services UK Limited is the new name for the combined businesses.
This has been in the planning for a number years, starting in December 2021 when Stellantis announced its intention to better organise its finance companies and to align their structure with the brands, National Sales Centres, and multi-brand dealers. This strategic decision meant that rather than having joint ventures that supported the customers of specific brands, joint ventures would be created to serve as the exclusive finance partners for all Stellantis brands, therefore delivering financial solutions to significantly more customers.
As the automotive industry continues to see the acceleration of electrification, supported by new trends in terms of mobility, competitive financing and services are more essential than ever. Since April across Europe, there has been one financial partner per country that serves all Stellantis brands for Business to Customer (B2C) , Business to Business (B2B) and Wholesale activities. This new model simplifies processes and brings consistent and attractive financing activities to all.
Stellantis redrew its boundaries in early 2022 with the launch of the Dare Forward 2030 long-term strategic plan and leads the industry with a commitment to be carbon net zero by 2038 and 100% of sales in Europe to be battery electric vehicles (BEVs) by the end of this decade. These goals demand innovation, grit, perseverance and agility.
The reorganisation of its finance companies is the first step in setting the course in this direction and will prepare them for a successful future in times of ongoing and accelerating transformation.