BNP Paribas Personal Finance and KIA Motors Mexico finalise the

PRESS RELEASE
7th July 2015, Levallois-Perret
BNP Paribas Personal Finance strengthens
its presence in Mexico
BNP Paribas Personal Finance and KIA Motors Mexico rapidly finalise the deployment of the
commercial agreement signed last May.
A few weeks after the signature of the exclusive commercial agreement by BNP Paribas
Personal Finance, leading European provider of personal financing, and KIA Motors Mexico, the
BNP Paribas subsidiary is in the process of finalising the deployment of this agreement. In a first
stage, 21 KIA Motors retailers in Mexico will soon be able to propose the financing solutions
developed by BNP Paribas Personal Finance to KIA Motors’ customers. This alliance includes
the joint launch of Retail and Wholesale financing operations. KIA Motors Mexico chose BNP
Paribas Personal Finance not only for its expertise and know-how in automobile financing but
also for its capacity to rapidly roll out the agreement. Meanwhile, KIA is planning to enter the
Mexican market as a high-profile game-changer. The alliance strengthens the presence of BNP
Paribas Personal Finance in Mexico where both parties have huge ambitions.
Retail and Wholesale Financing,
A partnership built on the expertise of Paribas Personal Finance
Last May, BNP Paribas Personal Finance and KIA Motors Mexico signed an exclusive commercial
agreement contingent on certain KIA pre-requirements such as the rapid roll out of the agreement by
the bank: in approximately six weeks. BNP Paribas Personal Finance accepted the challenge, which
was one of the Korean brand's decisive criteria.
KIA Motors Mexico also sought the services of BNP Paribas Personal Finance to benefit from the
expertise and know-how of the leading European provider of consumer credit.
The alliance resulted in the creation of KIA Finance, the Retail and Wholesale Financing entity for
the parties. Shortly after its arrival on the Mexican market, the Korean brand already has a network of
17 groups and 21 national retailers and plans to further expand its influence. Meanwhile, BNP Paribas
Personal Finance has huge ambitions on a market that it considers buoyant. It is strengthening its
presence in Mexico and reports annual growth rates of over 60%.
The automobile market is a strategic development focus for BNP Paribas Personal Finance. Automobile
purchases account for 50% of the consumer credit market worldwide. "BNP Paribas Personal Finance
seeks to build a long-term special partnership relationship with both manufacturers and retailers. That is
why we have allocated significant financial investments and set up an integrated governance system. By
2016, we plan to reach €15 billion of outstanding loans on the automobile market alone", says LouisMichel Duray, Automotive Financial Services Director, BNP Paribas Personal Finance.
BNP Paribas Personal Finance & KIA Motors,
Conquering the Mexican market
KIA Motors Mexico plans to become a game-changer on the Mexican automobile market in the second
half of 2015. It intends to do so by backing the launch of KIA Finance with offers of preferential rates to
both retailers and end customers. These advantages should allow KIA to "gain a competitive edge on
the market", explains Horacio Chavez, managing director of KIA Motors Mexico.
On the Mexican automobile market which grew by 7%* in 2014, the number of new car registrations has
rising steadily since 2011. KIA Motors Mexico intends to develop its network by doubling the number of
retailers in 2016 which will allow it to cover the whole of Mexico. The strategic alliance with BNP
Paribas Personal Finance, which already had a Mexican presence, is a material advantage.
Statistical data on the Mexican automobile market, source AMIA/JATO/BNP Internal Forecast
2011
2015 (forecast)
Number of registrations
905,886
1,214,888
Growth
10.4%
7%
Potential
692,699
937,893
Already financed
461,371
692,857
About KIA Motors Corporation
Founded in 1944, KIA Motors Corporation is the oldest car manufacturer in Korea. Every year, 3 million cars are produced in
5e countries and sold in 150. With its 49,000 employees worldwide, KIA Motors generates annual revenue of over US$ 43
billion. KIA Motors Corporation is the main sponsor of the Australia Open and the official automobile partner of FIFA. Its
promise " The Power to Surprise", underlines the company's commitment: surprise everyone by offering inspiring and
exciting experiences that exceed customer expectations.
A propos de BNP Paribas Personal Finance et de sa marque commerciale Cetelem
Au sein du groupe BNP Paribas, BNP Paribas Personal Finance est le spécialiste des financements aux particuliers au
travers de ses activités de crédit à la consommation et de crédit immobilier. Avec plus de 20 000 collaborateurs dans 25
pays et sur 4 continents, BNPParibas Personal Finance est N°1 en France et en Europe. BNPParibas Personal Finance
offre, essentiellement via ses principales marques, Cetelem, Findomestic et AlphaCredit, une gamme complète de crédits
aux particuliers accessibles soit sur le lieu de vente (magasins, concessions automobiles), soit directement par ses centres
de relation client et Internet. En France, sous marque Cetelem, l’entreprise propose également une offre de produits
d’épargne, de prévoyance et d’assurance. Il est l’acteur de référence en matière de crédit responsable®
En outre, BNP Paribas Personal Finance a fait du partenariat un métier à part entière fondé sur son savoir-faire pour
proposer tout type d’offres de crédits et de services intégrées et adaptées à l’activité et la stratégie commerciale de ses
partenaires. Ainsi BNP Paribas Personal Finance est un partenaire de référence des enseignes du monde du commerce,
des services, ainsi que des banques et des sociétés d’assurances.
Pour toute information : www.bnpparibas-pf.com - www.moncreditresponsable.com
PRESS RELATIONS
BNP Paribas Personal Finance
Claude Martin-Franz – tel : +33 1 46 39 97 93 – [email protected]
Valérie Baroux-Jourdain – tel : +33 1 46 39 15 88 – [email protected]