RCI Colombia launched its commercial activity in August 2016. Its ambition? Support the development of the Renault brand by offering exclusive financing and service solutions. A challenge largely met, today RCI Colombia is the country's leading financing entity in terms of the number of vehicle financing contracts.
To support the development of the Renault brand and help to attract new customers and earn their loyalty, RCI Bank and Services launched RCI Colombia in August 2016 together with the BBVA Group[1]. Renault currently ranks number two in the Colombian car market, which is benefiting from sustained growth in the local economy.
The subsidiary has established a leadership position in the vehicle financing market in Colombia. In December 2016, five months after launch, the subsidiary was already financing 45% of the Renault cars sold to retail customers. Thus it contributed to the performance of Renault Colombia, which achieved its highest-ever market share of 21.3% in 2016. That trend was confirmed in first-quarter 2017, with RCI Colombia scoring a penetration rate[1] of 51.5%.
Private individuals won over by a competitive financing offer and a comprehensive range of services
These outstanding results were achieved thanks to the launch of competitive and creative offers designed with Renault. At the Bogota Motor Show in November 2016, the subsidiary notably launched an offer enabling customers to purchase a car from a superior segment or finance accessories through a detailed assessment of their financing capacities.
RCI Colombia also brings customers the opportunity to round out their financing contract with services from a comprehensive range including insurance policies, warranty extensions, maintenance contracts and warranties for used vehicles.
To take things further, in 2017 the subsidiary plans to extend its financing business to companies and is seeking to become a benchmark in customer satisfaction.
[1] RCI Colombia is a joint venture owned 51% by RCI Banque SA and 49% by BBVA Colombia.
[1] Number of Renault vehicle financing contracts / number of Renault vehicles registered.
