If the car changes, so does the way to access a means of transport that is evolving, starting from its deepest roots. Goodbye endothermic world, here comes the electric (and not only). And the revolution begins, to bring the new – expensive – vehicles to the widest possible audience.
In the wake of Sava, born in Lingotto
And with FCA bank, now 100% owned by Credit Agricole, the Group born in the shadow of the history of Fiat becomes the only independent financial operator specializing in Europe in the world of cars. Stellantis sells its shares to the French: thus Credit Agricole Autobank was born.
“Today our future is born again in Turin – says Giacomo Carelli, CEO and general manager of FCA Bank -. Here we were born to the point of being present in 17 countries between Europe and the Mediterranean”. It all starts from the legacy of Sava, born at the beginning of the last century in via Nizza: Limited company for the sale of motor vehicles. Since that day, the car can be bought in installments. Even the middle class can buy it. The first car on installments is the Fiat 509, followed by the Balilla. Then Topolino broke the ice even towards the less wealthy classes. “We are independent because we will not only be linked to one car brand, but we want to collaborate with all manufacturers and sales platforms”.
The joint venture with Credit Agricole was established in 2006, dealing with financing and financial transactions. In 2009 it became FGA capital. Then, in January 2015, the holding company becomes FCA bank. Today loans amount to 29 billion (24 was excluding Leasys), with the banking business opening up to deposit accounts and credit cards.
There are 1900 employees, of which 500 in Italy. The vast majority are in Turin, while Drivalia is in Rome.
Change the way you use your car
“Our story begins in 2019 when we realized that the world was changing – says Stephane Priami, CEO of Credit Agricole – starting with the fact that the car was passing from possession to use, in a broader perspective of environmental sustainability for the economy”. “When you are in the city – he adds – with the limited traffic and obligations and constraints, it is increasingly frequent to turn to short-term rentals”.
Then there is the digital transformation: “By 2030 one car out of two will be sold via the internet and not through a dealership”. Finally, the concentration of producers, “while at the same time new brands will arrive for the electric sector, especially from Asia”.
Long-term rental (with one million vehicles, it is the third player in Europe), integration between FCA Bank (specialized in financing FCA vehicles, but not only) and Drivalia (specialized in the short term), even – in France – branches of Credit Agricole who sell cars in installments of one hundred euros a month “to simplify public access to new generation vehicles”.
“We want to range across all sectors, including agriculture and the naval sector – Carelli reiterates – and we will push hard on the green and zero-emission transition. And we want to democratize access to these cars which, as at the beginning of the 20th century, may not be achievable from the mass”.