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Chery expands finance tie-up with BNP Paribas and Arval
Yahoo Financeยท 2025-09-25 10:43
Core Insights - Chery International is launching its TIGGO 7 and TIGGO 8 models in the UK this month, supported by an expanded financial services partnership with BNP Paribas Personal Finance UK and Arval UK [1][2] - The partnership aims to enhance Chery's retail network, starting with 25 dealers and plans to expand to over 100 within a year [2] - The finance packages are expected to provide significant support for new car sales, similar to the previous launch of OMODA and JAECOO brands, which saw around 35% of sales backed by finance [1][2] Financial Services Partnership - BNP Paribas Personal Finance UK will offer a comprehensive range of consumer finance products through Chery's retail network [2] - Arval UK will provide contract hire and fleet management solutions, indicating a strong collaboration between the two financial entities [2][4] - The partnership is seen as a strategic move to broaden automotive lending and support original equipment manufacturers (OEMs) [3] Product Offering - The TIGGO 7 and TIGGO 8 will be available in petrol or hybrid variants, catering to family buyers and fleet operators [5] - The models will be offered in five- or seven-seat configurations, enhancing their appeal to a wider customer base [5] - The finance tie-up is expected to provide customers with greater choice, flexibility, and peace of mind when purchasing new family cars [5] Industry Trends - The one-bank approach allows Chery to bundle retail finance, leasing, and fleet support through a single partner, a model gaining traction among new entrants in the UK market [6]