Chrysler 2015 Annual Report Download - page 47

2015 | ANNUAL REPORT 47
After the world preview at the Istanbul Motor Show in May 2015, the all-new Fiat Tipo was presented to the
international press in November, launched in Italy in December and is being sold in over forty countries across EMEA.
This four-door compact sedan marks thereturn of the Fiat brand in the compact sedan segment.
In Europe, FCA’s sales are largely weighted to passenger cars, with approximately 47 percent of our total vehicle
sales in Europe in 2015 in the small car segment, reflecting demand for smaller vehicles driven by driving conditions
prevalent in many European cities and stringent environmental regulations.
EMEA Distribution
In certain markets, such as Europe, our relationship with individual dealer entities can be represented by a number
of contracts (typically, we enter into one agreement per brand of vehicles to be sold), and the dealer can sell those
vehicles through one or more points of sale. In those markets, points of sale tend to be physically small and carry
limited inventory.
In Europe, we sell our vehicles directly to independent and our own dealer entities located in most European markets.
In other markets in the EMEA segment in which we do not have a substantial presence, we have agreements with
general distributors for the distribution of our vehicles through their existing distribution networks.
The following table summarizes the number of independent entities in our dealer and distributor network. The table
counts each independent dealer entity, regardless of the number of contracts or points of sale the dealer operates.
Where we have relationships with a general distributor in a particular market, this table reflects that general distributor
as one distribution relationship:
Distribution Relationships At December 31,
2015 2014 2013
EMEA 2,090 2,143 2,300
EMEA Dealer and Customer Financing
In the EMEA segment, dealer and retail customer financing is primarily managed by FCA Bank, our 50/50 joint
venture with Crédit Agricole Consumer Finance S.A., or Crédit Agricole. FCA Bank operates in 17 European countries
including Italy, France, Germany, the U.K. and Spain. We began this joint venture in 2007, and in July 2013, we
reached an agreement with Crédit Agricole to extend its term through December31, 2021. Under the agreement, FCA
Bank will continue to benefit from the financial support of the Crédit Agricole Group while continuing to strengthen its
position as an active player in the securitization and debt markets. FCA Bank provides retail and dealer financing to
support our mass-market vehicle brands and Maserati vehicles, as well as certain other OEMs.
Fidis S.p.A., our wholly-owned captive finance company, provides dealer and other wholesale customer financing in
certain markets in the EMEA segment in which FCA Bank does not operate. We also operate a joint venture providing
financial services to retail customers in Turkey, and operate vendor programs with bank partners in other markets to
provide access to financing in those markets.