In Braunchsweig, people have so far been relaxed regarding the growing competition
(Photo: Press photo)
Frankfurt December 2021: The car group Stellantis, which emerged from the merger of Fiat Chrysler and PSA, announces that it will found a leasing provider together with the French bank Crédit Agricole. The goal: a fleet of more than one million vehicles by 2026.
January 2022: The mobility subsidiary ALD, which belongs to the French bank Société Générale (SocGen), takes over the Dutch competitor Leaseplan for 4.9 billion euros. The deal creates a provider with a car fleet of 3.5 million vehicles. The deal should be completed by the end of the year.
For a long time, the car leasing business was considered rather boring, and the market was widely distributed. However, the examples from the past few weeks show that this is currently changing. Big banks like Société Générale are now attacking – and increasing the pressure on the financial subsidiaries of the big car manufacturers, such as Volkswagen Financial Services (VWFS) or BMW Financial Services, which are known in technical jargon as captives.
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