Pontedera-Madrid, March 10, 2022 – Piaggio Group (PIA.MI) and Santander Consumer Finance (Santander) sign today a long-term Global partnership, with the aim of developing dedicated Retail financial services to support Piaggio sales and dealer network in all different local markets. Santander becomes new Piaggio Group global Partner for retail financing services, maximizing, through joint activities, the high potential of the cooperation and tailoring the proposition according to the needs of strategic growth of all Piaggio Group brands (Piaggio, Vespa, Aprilia, Moto Guzzi, Derbi, Gilera vehicles).
During 2021 Piaggio Group sold 536.000 vehicle worldwide (+11% vs 2020). In Europe Piaggio Group confirmed its leadership in the scooter segment with a 22.7% share.
The exclusive partnership between Piaggio Group and Santander will be implemented in all key European markets: at a first stage in all markets where Piaggio does not partner with financial institution for Retail financing (among the others Austria, Belgium, Netherlands, Greece and UK) and from January 1st 2023 in Italy, France, Spain and Germany.
Furthermore, Santander will support Piaggio Group business growth in Latin America, U.S. and Canada, thanks to a strong and wide presence.
Parties also agreed to evaluate the extension of the cooperation in all other strategic markets where Piaggio Group cooperate.
Piaggio Group. Established in 1884, the Piaggio Group is Europe’s largest scooter and motorcycle manufacturer and one of the world leaders in the industry. Piaggio (PIA.MI) has been listed on the Italian stock exchange since 2006 and has three separate business lines: two- and three-wheels vehicles (scooters and motorcycles), light commercial vehicles and robotics division (Piaggio Fast Forward) developed in Boston. The Piaggio Group brand portfolio includes some of the most prestigious and historic names in motorcycling such as Piaggio, Vespa, Moto Guzzi, Aprilia, Derbi, Ape and Piaggio Commercial. With more than 6,600 employees, the Piaggio Group markets its products in over 100 countries and has six manufacturing plants, in Italy, India, China, Vietnam and America. Moreover, the Group has four R&D centers with about 1.000 employees.
Piaggio Group: www.piaggiogroup.com
Santander Consumer Finance (SCF) is a leading consumer finance bank present in 16 European countries, Canada and China. More than 14,500 professionals provide the best consumer finance products and services to 18 million customers and 130,000 point of sale partners at the close of 2021. SCF offers a wide range of consumer finance and banking solutions, mainly through points of sale, where the company has developed a unique expertise, and direct-to-consumer channels such as branches, phone centers and online. SCF is part of Santander, one of the largest financial groups in the world.