New agreement reinforces Santander’s leadership in the U.S. auto finance market and the bank’s commitment to forging deep, multi-geography relationships with automotive manufacturers catering to customers across the credit spectrum
DALLAS–(BUSINESS WIRE)–Santander Consumer USA Inc. (“Santander Consumer”) today announced a new, exclusive multi-year agreement in the U.S. with INEOS Automotive Ltd (“INEOS Automotive”), which will enable it to serve as INEOS Automotive’s preferred provider of automobile financial services in the United States.
Santander Consumer will support INEOS Automotive as it launches its flagship vehicle, the Grenadier, by providing nationwide loan and lease options. The Grenadier is a premium 4X4 off-roader vehicle which has seen incredible interest and demand and will be available in the U.S. during the fourth quarter of 2023.
“Our new relationship with INEOS Automotive is emblematic of the focus we place on forging partnerships with high-quality automotive companies and providing the best possible service to our dealer partners so that it’s easier for them to offer quality financing, generate more sales through reduced rates, and qualify customers across all credit levels,” said Betty Jotanovic, President of Chrysler Capital and Auto Relationships at Santander Consumer. “We are excited to add INEOS Automotive to our U.S. portfolio of clients and look forward to assisting in the introduction and financing of Grenadiers in the coming months.”
Greg Clark, Executive Vice President, Americas at INEOS Automotive, said, “As a premium vehicle brand, INEOS Automotive sought a best-in-class financing partner to provide retail and lease sales in the U.S., while providing a superior customer and loyalty experience. We are excited to expand our relationship with a leader in auto finance and look forward to a long and successful partnership.”
This new agreement bolsters Santander Consumer’s leadership position in the U.S. auto finance sector and builds on Santander Group’s existing auto financing relationship with INEOS Automotive in the UK, Germany, France, Italy, Spain, and Austria.
About Santander Consumer USA
Santander Consumer USA Inc., headquartered in Dallas, Texas, is a consumer finance company focused on vehicle finance, third-party servicing and delivering superior service to our more than three million customers across the full credit spectrum. Santander Consumer, which began originating retail installment contracts in 1997, had an average managed asset portfolio of approximately $63 billion for FY 2022. The company is a wholly owned subsidiary of Santander Holdings USA, Inc., and is part of Madrid, Spain-based global banking leader Banco Santander. For more information about Santander Consumer USA, please visit www.santanderconsumerusa.com.
About INEOS Grenadier
In 2017, INEOS Chairman Jim Ratcliffe, a car enthusiast and experienced adventurer, identified a gap in the market for a stripped back, hard-working 4×4 engineered for modern day compliance and reliability. INEOS Automotive Limited was formed and a senior team of automotive professionals assembled to bring the vision to reality with a fresh perspective of 4×4 development and manufacturing.
Combining rugged British spirit and design with German engineering rigour, the Grenadier 4X4 is a tough, go-anywhere off-road vehicle with the modern comfort, refinement and quality standards expected by today’s drivers. Engineered to overcome all conditions, it provides best-in-class off-road capability, durability, and reliability to those who depend on a workhorse vehicle – whether for work, adventure or leisure – wherever they are in the world.
INEOS Automotive is a subsidiary of INEOS (www.ineos.com), a leading manufacturer of petrochemicals, speciality chemicals and oil products. It employs 25,000 people across 39 businesses, with a production network spanning 183 sites in 29 countries. From paints to plastics, textiles to technology, medicines to mobile phones, materials manufactured by INEOS enhance almost every aspect of modern life. In 2021, INEOS had sales of $65bn.
To find out more about Grenadier, visit www.ineosgrenadier.com.
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