Lotus and Santander join forces on auto financing programs

  • Lotus and Santander Consumer have entered an exclusive, multi-year agreement, providing new USA customers with dealer financing programs
  • As the Lotus line-up begins to hit the ground in the US market, Santander Consumer will serve as the preferred provider of automobile financial services
  • Santander Consumer will support Lotus by providing nationwide loan and lease options

 

Plymouth, MI and Dallas, TX – October 11, 2023

As Lotus continues to grow the brand and bring more of the impressive line-up to the market, the company has announced an exciting new agreement with Santander Consumer to provide new USA customers with dealer financing programs.

Santander Consumer will provide nationwide loan and lease options to Lotus customers and dealers with this exclusive, multi-year agreement.

“We are thrilled to embark on this partnership with Santander Consumer to provide financing options to customers in one of our largest markets,” said Ben Dodds, Chief Financial Officer, Lotus Cars. “Providing convenient options for our customers stays true to our brand promise to be ‘For the Drivers’, and we are excited to have them along with us on this journey as we deliver our new line-up.”

Santander Consumer’s new relationship with Lotus strengthens its leadership position in the US auto finance sector and builds on Santander’s existing auto financing relationship with Lotus across Europe.

“Our relationship with Lotus is a testament to our commitment to partnering with prestigious automotive companies, and providing superior experience for our dealers so they can offer financing to customers across the credit spectrum and drive sales,” said Betty Jotanovic, President of Auto Relationships at Santander Consumer. “We are thrilled to add Lotus to our portfolio of clients in the US and look forward to collaborating with their team and dealer body as they launch their new line-up in market.”

North America is a key market for Lotus, as the business expands globally. The company had over 44 stores in its retail network as of June 30, 2023, and plans to almost double its presence with 80 stores expected to open by 2025.

Lotus recently unveiled its first electric hyper-GT Emeya in New York City. The new car joins its electric hyper-SUV Eletre, as a flagship model in the Lotus line-up of luxury performance electric vehicles, which are part of its Vision80 strategy to become a global luxury technology brand by 2028.

Customer deliveries in the US are expected to begin in Q3 2024 for Eletre, and Emeya will be available in early 2025.

 

Notes to Editors

About Santander Consumer USA
Santander Consumer USA Inc., headquartered in Dallas, Texas, is a consumer finance company focused on vehicle finance, third-party servicing and delivering superior service to our more than three million customers across the full credit spectrum. Santander Consumer, which began originating retail installment contracts in 1997, had an average managed asset portfolio of approximately $63 billion for FY 2022. The company is a wholly owned subsidiary of Santander Holdings USA Inc., and is part of Madrid, Spain-based global banking leader Banco Santander. For more information about Santander Consumer, please visit www.santanderconsumerusa.com.

Santander Consumer Media Contact:

[email protected]

 

 

For more information please contact:

Vanessa Meier – PR & Communications Manager, Americas
[email protected] | 734.608.7769

 

About Lotus
Lotus is a global performance brand built on solid foundations and a rich heritage. Since the formation of Lotus in 1948, it has been pioneering true automotive innovation, introducing cutting-edge technologies and designs to meet its uncompromising vision of how a car should look, perform and feel. Lotus Group is made up of a high-performance sports car business, Lotus Cars, and an all-electric luxury mobility provider, Lotus Technology. Together, we are setting a new standard for automotive excellence.