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FCA lender Santander dropped 800 dealers

by David Zatz on

Santander Consumer USA, which includes Chrysler Capital, has dropped over 800 dealerships since 2015, according to Automotive News, quoting a conference call.

The company did not say how many of these are FCA dealerships; the company is not run by, or exclusive to, FCA. There are now 2,000 FCA dealers covered by Santander, of FCA’s roughly 2,440 dealers.

Santander Consumer USA’s CEO, Jason Kulas, said, “We believe there’s a direct connection between strong consumer practices, a culture of compliance and the creation of shareholder value.”  For that reason, it checks dealer performance each quarter — starting last year, including qualitative metrics such as negative publicity, evidence of false documents, and complaints.

As an outside company, Santander may able to reward and punish dealers based on customer metrics, while FCA would be heavily restricted by franchise laws.

 

David Zatz founded Allpar in 1998 (based on a site he had begun in 1993-94), after years of writing reviews for retail trades. He has been quoted by the New York Times, the Daily Telegraph, the Detroit News, and USA Today. Before making Allpar a full-time career, he was a consultant in organizational psychology. You can reach him by using our contact form (much preferred) or by calling (313) 766-2304


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