Finance provider supports entry of Chery International’s TIGGO into the UK market

Chery International’s latest automotive models, the TIGGO 7 and TIGGO 8 are entering the UK automotive market this September following an expansion of its financial services partnership with BNP Paribas Personal Finance UK and Arval UK.

This new partnership builds on an existing strategic relationship between Chery UK, BNP Paribas Personal Finance UK and Arval UK which resulted in the successful entry of the OMODA & JAECOO brands to the UK market in July 2024 — an entrance that has been sustained and contributed to the financing of 35 per cent of new car sales across the two automotive brands.

BNP Paribas Personal Finance will now provide dealers and customers with a full range of flexible finance solutions to open more choice for UK consumers who are in search of a new petrol or hybrid family car.

Initially, Chery will launch two models, the TIGGO 7 and the TIGGO 8 available as either petrol, or hybrids, which are now available for purchase this September from 25 dealers across the UK, with plans to expand the dealer network to over 100 within 12 months.

Thanks to a one-bank solution, drawing on BNP Paribas’ combined expertise and capabilities, BNP Paribas Personal Finance UK will provide consumer finance, and Arval UK will offer fleet and contract management services.

The expansion of this partnership will support Chery’s growth in the UK automotive market with a strong portfolio of options; both internal combustion engines (ICEs), and plug-in hybrid electric vehicles (PHEVs) are being offered to consumers, with a choice of five or seven seat options available.

Chery International is the largest automotive exporter in China for 23 consecutive years, and collectively OMODA&JAECOO is one of the fastest growing automotive brands in the world, making the arrival of Chery’s new TIGGO range highly anticipated by UK consumers and dealers.

Stephen Hunt, CEO of BNP Paribas Personal Finance UK, said: “We have big ambitions for the motor finance division of our business, and I’m delighted that we are building on the successful partnership we have created with Chery UK to extend the financial services we are providing for their automotive brands.

“After expanding our motor finance activities to support OEMs in mid-2024, our offering has gone from strength to strength as the team has continued to adapt to the ever-changing needs of consumers, dealers and manufacturers.

“The expansion of this partnership reflects our team’s dedication to delivering results for our partnerships and driving innovation in the solutions we provide and supports our wider ambitions to embed BNP Paribas Personal Finance UK as a leading provider of finance solutions in the automotive market.”

Lakshmi Moorthy, managing director of Arval UK, said: “We’re delighted to be extending our relationship, supporting Chery’s growth in the UK, with the launch of their TIGGO models. The expansion in this partnership is further evidence of how the combined capabilities of BNP Paribas Personal Finance and Arval are providing an extensive range of solutions to support manufacturers and customers in the UK and across Europe.”

 Farrell Hsu, country director, Chery UK, said: “The launch of the TIGGO 7 and TIGGO 8 models marks another exciting step in Chery’s long-term commitment to the UK. Working with BNP Paribas Personal Finance UK and Arval UK allows us to provide customers with greater choice, flexibility and peace of mind as they make the move to a new family car.

“We are confident that our combination of advanced design, hybrid technology and attractive finance solutions will resonate strongly with UK drivers and accelerate the growth of Chery in this important market.”

Learn more about motor finance solutions or get in touch with one of BNP Paribas Personal Finance UK’s account managers HERE.

And to discover more about Arval UK’s fleet and leasing solutions visit their website.