CA Auto Bank is accelerating its expansion in Europe and, before the end of the year, its mobility subsidiary, Drivalia, will debut in Germany and Poland, expanding its presence to 15 countries.
The choice of these locations is not coincidental.
Germany, a country where the registration of electric vehicles is reaching significant numbers (with a 31.7% growth in BEV in the first half of 2023 compared to the previous year), is seen as a strategic market for Drivalia’s growth, positioning itself as a reference point for sustainable mobility and rental services.
The company’s goal is to develop a fleet of at least 15,000 vehicles over the next 3 years, starting with medium and long-term rentals and gradually expanding its services to include all of Drivalia’s “Planet Mobility” solutions, including electric car sharing and innovative car subscriptions.
In 2024, the firm plans to continue its expansion to ensure a presence in Austria, Sweden, and Switzerland, totaling 18 countries.
This European expansion aligns with CA Auto Bank’s mission as a mobility bank for a better planet, which is controlled by Crédit Agricole Consumer Finance.
CA Auto Bank and Drivalia will work synergistically to develop a pan-European financial and mobility offering, with the aim of becoming a leading player in vehicle financing, leasing, and mobility.
Having transformed into an independent operator in April 2023 (after being a captive company of Fiat Chrysler Automobiles), CA Auto Bank has already gained the trust of numerous new partners, including 45 car brands and around 10,000 dealers.
It reached €3.7 billion in European retail volume in the first quarter of operations and €24.7 billion in total loan stock at the end of the period, representing a 20% increase from the previous year when it operated as a captive company.
Internationally, CA Auto Bank aims to have 80% of its portfolio composed of sustainable vehicles (electric and hybrid) by 2030.
The bank also has ambitious growth plans in the German market, aiming to achieve €2 billion in retail production (+30%) by 2024.
This growth will rely on expanding its dealer network and establishing new partnerships with prestigious international brands, starting with Lucid, the luxury American electric car manufacturer.
Stéphane Priami, President of CA Auto Bank and CEO of Crédit Agricole Consumer Finance, emphasizes that the group now possesses an innovative tool to serve all actors in the European mobility market, and it is a fundamental pillar in their ambition to become leaders in sustainable mobility in Europe.
From Drivalia’s perspective, they see themselves as a “new player“, despite their experience in the sector, and they aim to lay the foundation for expansion across Europe.
Giacomo Carelli, CEO of CA Auto Bank and President of Drivalia, highlights the rapid growth of CA Auto Bank as an independent actor and Drivalia’s substantial fleet, which already consists of nearly 165,000 rental and lease-purchase units in 13 countries, with Germany and Poland soon to join.
Their ultimate goal is to become European leaders in the mobility of the future.
From CA Auto Bank Deutschland’s point of view, there is a significant focus on sustainable mobility in Germany, which has provided fertile ground for their offerings, and they look forward to integrating Drivalia’s mobility services into the market.
