The FINANCIAL — Mazda and CA Consumer Finance have renewed their partnership agreement for five years.
It primarily covers financing for dealers’ new and demonstration vehicle inventories and financing solutions for end customers sold under the Mazda Finance brand.
Partnership set up in 2009 — Mazda France and CA Consumer Finance have been partners since 28 January 2009. As Crédit Agricole reported, this partnership covers two main business activities: dealer financing for new and demonstration vehicle inventories; financing solutions for end customers sold under the Mazda Finance brand.
One in three vehicles is sold with financing — Today, thanks to the cooperation between Mazda and CA Consumer Finance, one in three vehicles is sold with financing.
“After we had been working together for six months in 2009, 15% of Mazda sales were financed by CA Consumer Finance. This percentage has increased steadily in the meantime to reach 30% today–a very strong figure given market performances”, stated Laurent Hamard, Mazda’s Head of Operations.
“The aim for Mazda and CA Consumer Finance is now to establish themselves over the long term among the top players in France, with a 30% to 35% share of vehicles financed” added Jean-Marie Thierry, CA Consumer Finance’s Head of Distribution.
Close to two-thirds of the average cost of a vehicle is financed — The Mazda network comprises 127 points of sale located across France. The Mazda3 is currently the vehicle in Mazda’s model range attracting the most applications for financing, with close to one in three of these models being financed, followed by the Mazda2 and the Mazda5.
On average, the average contribution stands at 36% of the total cost of a vehicle or €8,300, with the average amount financed at €14,700.