Series of major distribution finance wins secured with leading manufacturers
London & Frankfurt, 04 Nov 2009: GE Capital has won a series of major distribution finance partnerships with motor home and caravan manufacturers in Germany to help create liquidity and increased sales opportunities for manufacturers and dealers throughout the country. Germany represents the biggest European market for motor homes and caravans, closely followed by the UK and France, and these wins provide GE Capital with an entry to the German market.
It is expected that GE Capital will provide €50 million of funding to support to the German caravan and motor home market for the remainder of 2009.
"In the face of the ongoing financial crisis, many established lenders to the German leisure vehicle market have either pulled out or scaled back their lending volumes," explained Maarten Endel, an Industry Leader at GE Capital in EMEA. "GE Capital has a long, successful track record of supporting manufacturers and dealers in a range of asset classes throughout Europe and, critically, we have the appetite to continue lending to our customers and partners -- creating certainty when the markets are anything but."
"As the European market leader in distribution finance for the leisure vehicle sector, we have invested significantly in technology and funding systems to ensure customers have a complete overview and management of their product distribution and sales at the click of a button," Maarten Endel continued. "Our IT and processing technology is embedded into our customers' -- it's simple to use, intuitive, responsive and, increasingly, vital to dealers and manufacturers when making important business decisions."
"This is just the beginning," added Petri Pennanen, the Commercial Leader for GE Capital Commercial Distribution Finance in Germany. "We are already in discussions with several of the other leading brands in the German caravan and motor home market and anticipate that these will lead to much higher volumes for the full year in 2010."
Will Spiers
Michael Goodbody
GE Capital EMEA
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