Feb 21, 2018
RCI Bank and Services financed more than 1.7 million vehicles last year as demand leapt 13.2% compared to 2016. It wrote 1,771,000 new financing contracts worth €20.6 billion for new and used vehicles during the year, with an average penetration rate of 42.6%. Group pre-tax income rose 18.1% year-on-year to €1.077 billion, supported by reduced operating costs. RCI Bank and Services is the commercial identity of RCI Banque.
Mar 14, 2018
Santander Consumer USA has reached an agreement with automotive technology leader AutoGravity to make its indirect finance offers available nationwide through the AutoGravity mobile app. The lender announced last month that it had reached a similar deal with another automotive fintech startup, AutoFi.
Nov 30, 2017
Volkswagen Financial Services Australia (VWFSA) has paid a penalty of AUD$216,000 (US$163,000) after the Australian Securities and Investments Commission (ASIC) issued infringement notices for alleged misleading advertising statements. The penalty related to VWSA’s ‘1% you can’t ignore’ advertising campaign, with ASIC issuing 20 infringement notices in total.