Chrysler 2010 Annual Report Download - page 129
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REPORT ON
OPERATIONS
128
OPERATING
PERFORMANCE:
DISCONTINUED
OPERATIONS
In Switzerland, Austria and Eastern Europe the activity is run by captive financial services companies (fully
consolidated).
In 2010, business was positively impacted by a modest economic recovery in Western Europe in the second
half and recovery, albeit tentative, in Eastern European markets. The economic climate also had an impact on
the number of new vehicles financed and on market penetration.
For fully-consolidated subsidiaries only, 1,325 new vehicles were financed in 2010, up from 1,118 vehicles for
2009, despite a drop in penetration rate to 27.7% (39.0% in 2009). The total number of vehicles financed in
2010 increased to 3,072 (2,776 in 2009).
Including the activities of Iveco Finance Holdings Ltd. and the Spanish joint venture, there was a 4% decrease
in the number of new vehicles financed through the sector’s Financial Services activities (13,871 in 2010,
14,458 in 2009), with an overall penetration rate of 20.4% (22.4% in 2009). However, total vehicles financed
increased 2% (23,038 in 2010, 22,637 in 2009), mainly due to the increase for used vehicles.