Chrysler 2008 Annual Report Download - page 75

Report on Operations Fiat Group Automobiles74
In 2008, loans granted to the dealer network totalled €11,850
million (€10,300 million in 2007). A total of €5,184 million
(€5,520 million in 2007) in loans was provided to end-
customers (retail) on 441,304 vehicles (467,700 in 2007),
representing a penetration rate of 25.5% (24.4% in 2007).
New rental agreements were entered into on 74,665 vehicles
(64,770 in 2007), equivalent to a financed value of €1,114
million (€952 million in 2007), and a penetration rate of 5.6%
was achieved (4.5% in 2007).
In South America and China, financial services are provided by
Banco Fidis de Investimento SA in Brazil, Fiat Credito
Compania Financiera S.A. in Argentina and Fiat Automotive
Finance Co. Ltd. in China. All three companies are subsidiaries
of Fidis S.p.A. (whose activities in Italy are factoring and the
issue of guarantees), a company wholly-owned by FGA and
consolidated on a line-by-line basis.
Consistent with company policy, Fidis S.p.A. reduced activities
in the supplier financing segment, with managed loans
dropping to €505 million (€963 million in 2007).