SsangYong Motors UK has recently unveiled a strategic financial collaboration with CA Auto Finance, the UK arm of the globally recognised CA Auto Bank group. The partnership comes following a thorough and competitive consultation process in which SsangYong selected CA Auto Finance as its official financial partner, signalling a significant development in the company’s financial operations.
CA Auto Finance is poised to play a pivotal role in supporting SsangYong’s financial initiatives. The partnership includes a comprehensive range of finance plans, encompassing retail financing, dealer financing, and wholesale financing. Additionally, Drivalia, the rental, leasing, and mobility arm of the CA Auto Bank Group, will provide lease financing for SsangYong.
The agreement is set to empower SsangYong in its customer financing operations across the UK and bolster the company’s dealer network nationwide. As part of the collaboration, CA Auto Finance will offer a diverse array of financial products to assist in funding inventory, providing dealers with flexibility and resources to thrive in the competitive automotive market.
This financial partnership comes at a crucial juncture for SsangYong, which is undergoing a rebranding to KGM. The company is gearing up for the launch of its brand-new Torres and Torres EVX models in early 2024. The collaboration with CA Auto Finance is expected to play a vital role in supporting SsangYong’s growth during this transformative period.
Kevin Griffin, Managing Director of SsangYong Motors UK, expressed enthusiasm about the partnership, stating, “We are delighted to have appointed CA Auto Finance after a rigorous selection process. Working with CA Auto Finance, a company with a similar ethos to ours, will support the growth of our business and help our dealers fund their inventory while giving SsangYong – soon to be KGM – customers the opportunity to obtain retail financing through a trusted company.”
Alex Hughes, Managing Director of CA Auto Finance UK, added, “We are delighted to be selected by SsangYong during such a pivotal moment in its history, not only as the business rebrands to KGM but also as it launches the ground-breaking Torres and Torres EVX models in the coming year. We look forward to working closely with the SsangYong team as its official financial partner in the UK.”