Chrysler 2010 Annual Report Download - page 106
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105
In Latin America and China, financial services are provided by Banco Fidis in Brazil, Fiat Credito Compania
Financiera in Argentina and Fiat Automotive Finance in China. All these companies are subsidiaries of Fidis
S.p.A. In Brazil, Banco Fidis achieved particularly strong growth. In 2010, financing support to the sector also
covered the Chrysler distribution network and end customers in China, Argentina and Brazil.
In Italy, Fidis S.p.A. (a wholly-owned subsidiary of Fiat Group Automobiles S.p.A.) manages a factoring portfolio
and issues guarantees. During 2010, the company further reduced its supplier factoring activities, with managed
receivables dropping to €271 million (€430 million in 2009).
With regard to short-term rental activities, FGA sold its entire interest in Targa Rent S.r.l. to third parties on
1 February 2010.