Renault-Nissan captive financial arm to enter India this year

Datsun will be the 1st product to get financed

RCI Banque, part of French automajor Renault Group and provides finance for the sales of Renault Group brands, is planning to launch its business in India, this year.

The company will initially start lending to Datsun brands, which was re-launched by Renault's global partner Nissan after nearly three decades to cater the emerging middle class or mass market in the car industry.

RCI Banque, which is 100% owned by Renault is an autonomous Business Unit specialised in car financing and related services. The company globally helps the Renault-Nissan Alliance, including Renault and Japanese automajor Nissan, provides a range of finance options and services to Renault-Nissan Alliance customers. In 2013 the company provided new finances to the tune of €11.4 billion globally.

While a detailed mail sent to the company did not elicit any response, RCI Banque said under the 2014-2016 plan, it will launch its business in India in 2014 and will expand operations in Columbia and prepare for launch in China.

India, a key strategic market for the Alliance in the future and home to its first dedicated Alliance plant, Renault’s sales soared 83.1% to 64,368 units despite a 7.5% slump in the passenger car market. Renault’s sales were boosted by the success of Duster, making Renault the leading European automaker in the market. Renault’s market share in India stood at 2.6%, almost double that of 2012.

"In 2014, RCI Banque will start financing Datsun, a new Alliance brand (in Russia, then in India),” said the company.  Nissan and Infiniti across 36 countries. Around 35.5% of new Renault- Nissan Alliance branded vehicles financed in countries where RCI operate

RCI Banque is targeting to sell almost 2 million services per year by the end of the plan and have collected retail deposits representing 30% of end-2016 outstandings.

The company has chalked out four strategic focuses including develop products to meet motorists’ needs and expectations, use digital technology to improve customer knowledge; it will help to implement new products, continue providing the Alliance brands with systematic support in the international development of their respective businesses and push ahead with the group’s internal transformation, focusing on the development of a high performance culture in all business lines, said the company.

The company finance five brands globally, including Renault, Dacia, Renault Samsung Motors and others.