GE Capital has announced it will provide €50 million of funding
to the German motor home and caravan industry before the end of
2009.
The lessor has recently won a series of distribution finance
partnerships with motor home and caravan manufacturers in Germany,
the company said. This sector, which is the largest in Europe,
provides GE Capital with an entry to the German market, it
added.
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“In the face of the ongoing financial crisis, many established
lenders to the German leisure vehicle market have either pulled out
or scaled back their lending volumes,” said Maarten Endel, an
industry leader at GE Capital EMEA.
“This is just the beginning,” added Petri Pennanen, the
commercial leader for GE Capital Commercial Distribution Finance in
Germany. “We are already in discussions with several of the other
leading brands in the German caravan and motor home market and
anticipate that these will lead to much higher volumes for the full
year in 2010.”
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