The CAR Avenue Group, CA Auto Bank, Credit Agricole de Lorraine and LCL announce their partnership to support the development of the dealer in Europe

The CAR Avenue Group has chosen Crédit Agricole and its entities (Crédit Agricole Auto Bank, Crédit Agricole de Lorraine, LCL) to support its growth in Europe. In particular, Crédit Agricole Auto Bank has become CAR Avenue’s financial partner, distributing its financing solutions under the CAR Avenue Financial Services brand.

The agreement between CA Auto Bank and CAR Avenue was facilitated by the networking and support of Crédit Agricole de Lorraine, which will support the European distributor’s external growth.

This international partnership will be active in France, Belgium, Luxembourg, Switzerland and soon in Germany. It supports CAR Avenue’s ambition to develop its activities in France and abroad, and to position itself in new markets.

They will also be able to distribute Crédit Agricole Mobility Services’ catalogue of services, which will be gradually expanded to include delivery, extended warranty and maintenance, etc. The agreement will be extended to Germany in the coming weeks, extending CAR Avenue Financial Services’ presence in Europe.

This partnership is in line with the family-owned CAR Avenue Group’s ambition to become the mobility partner for private and professional users in the heart of Europe, to strengthen its customers support and to facilitate access to the 34 car brands it distributes. CA Auto Bank and Crédit Agricole de Lorraine will also support CAR Avenue in its drive to accelerate its energy transition and its mission to promote sustainable mobility.

Historically based in Lorraine, CAR Avenue has gradually expanded its territorial coverage and diversified its activities to become one of Europe’s leading car distribution groups and the Greater Region’s mobility leader. The international partnership with CA Auto Bank will enable CAR Avenue to strengthen its market positions and support its expansion in other European countries such as Germany, where CA Auto Bank is also present.

“This strategic, financial and technical partnership, initiated by Stéphane Bailly, Chairman of the CAR Avenue Group, marks a new stage in our external growth in the heart of Europe and in our endogenous development. The Crédit Agricole Group and its subsidiaries, with their multiple, international and recognized expertise, provide us with new financing, development and optimization capabilities that will enable us to develop new products and services for our customers, improve our competitiveness and support our CSR approach” explains Amaury de Bourmont, CEO of CAR Avenue Groupe.

“Our expertise and CA Auto Bank’s broad geographical footprint in Europe, covering 18 countries, are key assets in supporting CAR Avenue in its growth plan. In addition to a comprehensive financing catalogue and management tools, our partner will be able to count on the proximity of our teams, synonymous with quality of service, a thorough understanding of local issues and greater adaptability” declares Giacomo Carelli, CEO of CA Auto Bank.

“This agreement represents a strategic opportunity for all our group’s subsidiaries, and in particular for CA Auto Bank France. We will be able to strengthen our presence on the French market by putting our expertise at the service of CAR Avenue, already a Crédit Agricole de Lorraine customer since 2018” adds Etienne Royol, Managing Director of CA Auto Bank France.

“We are very proud to support CAR Avenue, a major economic player in the region, in its European expansion. This partnership between CA Auto Bank, Crédit Agricole de Lorraine and CAR Avenue fully reflects our commitment to support local players while offering them an international reach thanks to the strength and expertise of the Crédit Agricole SA Group” comments Laurent Cazelles, CEO of Crédit Agricole de Lorraine.

“LCL, a partner of one out of two midcaps in France, is very proud to support the CAR Avenue group in its cash flow needs for more than 10 years and, through this partnership with the Crédit Agricole Group, to pursue the ambitious objectives of future growth,” says Laurent Pringault, Head of the Corporate market at LCL.