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August 12, 2009updated 12 Apr 2017 4:34pm

Iveco Capital increases market share despite economic downturn

Iveco Capital increased its penetration rate in the first half of 2009, the company said, adding that it now finances one in three Iveco vehicles on the Italian market. The captive arm of Italys truck manufacturer Iveco, which is part of the Fiat Group, recorded a penetration rate increase from 22 percent at the beginning of 2008 to 33 percent at the end of June 2009. The light commercial vehicle Iveco Daily range alone has now reached a 40 percent penetration rate, the company added.

By Antonio Fabrizio

Iveco Capital increased its penetration rate in the first half
of 2009, the company said, adding that it now finances one in
three Iveco vehicles on the Italian market.

The captive arm of Italy’s truck manufacturer Iveco, which is
part of the Fiat Group, recorded a penetration rate increase from
22 percent at the beginning of 2008 to 33 percent at the end of
June 2009.

The light commercial vehicle Iveco Daily range alone has now
reached a 40 percent penetration rate, the company added.

Despite the economic downturn, which has affected the captive’s
business volumes – particularly in the heavy truck segment
– the company said that it is focusing on those assets which
are being less affected by the recession.

It has deployed a strategy to counter the crisis that includes a
series of commercial campaigns to support Iveco sales, and run
specific operations in conjunction with area managers.

Despite a drop in registrations, its parent company secured a
1.4 percent increase to 26.3 percent in the total market share of
vehicles over 2.8 tonnes in the first half of 2009, keeping its
first position in the country’s truck market.

Iveco Capital is a financing joint venture between the Italian
truck maker and Barclays Asset and Sales Finance (BA&SF).

Antonio Fabrizio

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