Crédit Agricole Consumer Finance and Opteven announce the creation of a joint venture to offer the bank’s customers a European offer of extended warranty and maintenance contract

· Crédit Agricole Consumer Finance and Opteven, an expert in guarantees and services adapted to mobility, have agreed on a draft strategic agreement that should be supplemented by the creation of a 50-50 joint venture between the two companies.
· This new structure would enable Consumer Finance to offer an extended warranty and maintenance contract offer, developed by Opteven, to its individual and professional customers in Europe.
· After the creation of JV Leasys with Stellantis, the 100% acquisition of Auto Bank and Drivalia, the development of automotive services is the third pillar of the automotive strategy of Consumer Finance to become the leader in green mobility in Europe.
·Consumer Finance aims to offer more than 20 automotive services to its various customers via all the Group’s European entities by 2026.

Crédit Agricole Consumer Finance and Opteven have agreed on a draft European strategic agreement

Opteven and Crédit Agricole Consumer Finance have recently signed a draft European strategic agreement that would allow all Crédit Agricole Consumer Finance’s European entities to offer all their customers, both individuals and professionals, an extended warranty and maintenance offer.

This agreement would also give rise to the creation of a joint venture specialising in car warranty and maintenance contracts, in which the two partners would each hold 50% of the capital. This joint venture would be responsible for leading and developing the partnership between Consumer Finance and Opteven.

The partnership could initially be active in the 9 countries currently covered by Opteven. It would gradually be extended to other countries where Crédit Agricole Consumer Finance is expanding its activities. 

Services: the new part of Crédit Agricole Consumer Finance’s automotive strategy

This transaction is fully in line with Consumer Finance’s strategy to develop an automotive services offering that meets the needs of all customers in the rental and mobility financing market. This strategic pillar serves Crédit Agricole Consumer Finance’s ambition to become a leader in green mobility in Europe and is the basis for building a mobility continuum.

Press service de Crédit Agricole Consumer Finance : Claire Garcia – +33 (0)1 87 38 11 81 – presse@ca-cf.fr

About Crédit Agricole Consumer Finance
Crédit Agricole Consumer Finance, a subsidiary of the Crédit Agricole Group, specialises in retail finance and provides access to all mobility solutions in Europe. It distributes a wide range of financing solutions – depreciable credit, revolving credit, leasing and credit buyback – directly at its partners’ point of sale or e-commerce platforms, with associated services including insurance, split payment solutions and mobility services, with the aim of meeting the challenges of energy transition in mobility, housing and consumption. Its financing solutions and services are offered in France via Sofinco, in Italy via Agos, in Germany via Creditplus, in Portugal via Credibom, in Spain via Sofinco Espana, in Morocco via Wafasalaf, and in China via GAC-Sofinco (car financing only). Crédit Agricole Consumer Finance aims to be the leader in green mobility in Europe and offers a continuum of all mobility solutions in the 19 countries where it operates (leasing, medium and short-term leasing, subscription, car sharing, charging station installation, etc.). It will rely on the JV with Stellantis, the 100% integration of FCA Bank and Drivalia and the development of automotive financing in its historical entities in Europe and in the Crédit Agricole Regional Banks and at LCL via Agilauto. Consumer Finance acts every day in the interest of its 16.7 million customers and the company. At December 31, 2022, Consumer Finance managed €103.1 billion in outstanding loans.
For more informations: www.ca-consumerfinance.com