Pontedera – Madrid – WEBWIRE

Piaggio Group (PIA.MI) and Santander Consumer Finance (Santander) sign today a long-term Global partnership, with the aim of developing dedicated Retail financial services to support Piaggio sales and dealer network in all different local markets.

Santander becomes new Piaggio Group global Partner for retail financing services, maximizing, through joint activities, the high potential of the cooperation and tailoring the proposition according to the needs of strategic growth of all Piaggio Group brands (Piaggio, Vespa, Aprilia, Moto Guzzi, Derbi, Gilera vehicles).

During 2021 Piaggio Group sold 536.000 vehicle worldwide (+11% vs 2020). In Europe Piaggio Group confirmed its leadership in the scooter segment with a 22.7% share.

The exclusive partnership between Piaggio Group and Santander will be implemented in all key European markets: at a first stage in all markets where Piaggio does not partner with financial institution for Retail financing (among the others Austria, Belgium, Netherlands, Greece and UK) and from January 1st 2023 in Italy, France, Spain and Germany.

Furthermore, Santander will support Piaggio Group business growth in Latin America, U.S. and Canada, thanks to a strong and wide presence.

Parties also agreed to evaluate the extension of the cooperation in all other strategic markets where Piaggio Group cooperate.