Financial services

RCI Financial Services becomes Mobilize Financial Services UK

The Renault group has rebranded its financial services subsidiary as Mobilize Financial Services UK.

The new name would reflect the company’s “strong relationship” with the Renault group’s brand dedicated to new mobility, Mobilize.

It supports Renault’s strategy to extend its missions outside the automotive industry, with the Mobilize brand expected to represent 30% of the group’s turnover by 2030.

Mobilize will launch a network of ultra-fast charging stations, a service dedicated to taxi and VTC professionals and a car-sharing vehicle.

Mobilize Financial Services UK will be the brand of choice for customers of Groupe Renault brands, including Renault, Dacia and Alpine, who are looking for a full range of services related to the use of their car. Nissan customers will also benefit from the same quality of services and products, through the Nissan Financial Services brand.

Alice Altemaire, CEO of Mobilize Financial Services UK, said: “Our name change to Mobilize Financial Services comes at a really exciting time as the market shifts towards innovative new services and digital customer journeys. All of these elements will allow customers to reduce their vehicle ownership costs while having access to greener mobility. It shows how we as a business are continuously evolving keeping Mobilize Financial Services at the forefront of innovation in the UK.

Since the creation of Mobilize in January 2021 and the renaming of RCI Bank and Services to Mobilize Financial Services in May 2022, the two brands have joined forces to strengthen the development of new mobility solutions and offers.

Groupe Renault is committed to a “Renaultlution” strategy which aims to halve the number of vehicle platforms from manufacturers Renault, Dacia, Lada and Alpine while offering 24 model launches by 2024.

The company raised its profit forecast for 2022 despite losses in the first half due to an impairment in its car manufacturing business in Russia.

The French carmaker posted a net loss of €1.36bn (£1.14bn) for the period following a €2.2bn (£1.85bn) write-down. pounds) on the value of its Russian operations, which included the sale of its majority stake in the country’s largest automaker. AvtoVAZ for an amount reported as one ruble.

But while vehicle sales have fallen nearly 30% to around one million units, new models and better prices are improving profitability, resulting in operating margins of 4.7%, in up 2.6 ppts year over year.

This improvement has led Groupe Renault to revise its annual margin forecast upwards from 3% to more than 5%.