New Lotus and FCA Bank partnership to offer attractive range of sports car finance packages
• Improved customer payment choices via multi-year pan-European partnership
• Lotus Elise, Exige and Evora all included in new finance packages
• Phased introduction by market from July to September
• Agreement also covers wholesale funding for retailers, delivering confidence to the Lotus sales network
• Another key milestone in the transformation of the Lotus brand
(Hethel, UK – 16 July 2020) – Lotus customers are to benefit from an attractive range of finance products with a new multi-year strategic partnership signed with FCA Bank.
The agreement sees FCA Bank become the exclusive retail finance provider for the UK and nine other European markets. The initiative replaces five existing suppliers with a single solution, creating a one-stop shop across the region that will lead to improved process efficiency and cost reductions.
For Lotus, it’s another significant milestone in the ongoing transformation of the brand. For Lotus customers, it means access to a whole suite of appealing new retail finance products. These include sale, lease and insurance policies on new and ‘approved used’ examples of all three models in the current Lotus sports car range – the Elise, Exige and Evora.
The partnership also sees FCA Bank become the exclusive wholesale finance provider for Lotus. For its pan-European network of retailers, this will give them additional confidence to support the funding of Lotus vehicles for their showrooms and demonstration fleets.
The contract initially covers 10 European markets, which are Austria, Belgium, France, Germany, Italy, Luxembourg, Netherlands, Spain, Switzerland and the UK. It will be phased in by market between July and September. Other countries will follow in due course.
FCA Bank is one of the largest specialised car finance companies operating in Europe. It’s a 50/50 joint venture between Fiat Chrysler Automobiles and Crédit Agricole, and already represents 18 other automotive brands including several outside the FCA portfolio.
Phil Popham, CEO, Lotus Cars, said: “I’m delighted that Lotus and FCA Bank will be working together. This partnership is a huge step forward for customer choice, and yet another example of how we’re transforming the Lotus business. For those who have always wanted to own a new Lotus, they’re now more attainable than ever.”
Giacomo Carelli, CEO and General Manager of FCA Bank, commented: “We are delighted to have been selected as the finance provider for Lotus across Europe. This is a further endorsement of our success in providing finance and mobility services arrangements to strategic OEM partners. Lotus is an iconic British brand and we are very proud to contribute to its continued transformation.”
Notes to Editors
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Group Lotus is based in Hethel, Norfolk, UK. It is part of Geely Automotive, the fastest growing automotive group in the world. Geely has a 51% controlling stake, with 49% owned by Etika Automotive, a Malaysian conglomerate.
Lotus Cars builds world-class, high-performance sports cars including the Evora, Elise and Exige ranges. In July 2019 it launched the Evija, the world’s first all-electric British hypercar. Production will start in 2021.
Lotus Engineering provides a comprehensive consultancy service which works with many of the world's OEMs and Tier 1 suppliers. It is internationally recognised for its long-standing contribution to ground-breaking automotive engineering and vehicle development.