Chery Expands UK Presence with TIGGO Models and Enhanced BNP Paribas Partnership
Chery International is set to launch its TIGGO 7 and TIGGO 8 models to UK customers this month. This expansion is supported by an extended financial services partnership with BNP Paribas Personal Finance UK and Arval UK, aiming to provide comprehensive financing options for new car buyers.
Building on Existing Success
The agreement builds upon a pre-existing relationship that facilitated the successful launch of the OMODA and JAECOO brands in July. According to Chery UK, approximately 35% of new car sales from that initial launch were supported by available finance packages.
Comprehensive Financial Solutions for UK Customers
Under the new deal, BNP Paribas Personal Finance UK will offer a complete suite of consumer finance products through Chery's expanding UK retail network. This network is planned to grow from an initial 25 dealers to over 100 outlets within the next 12 months. Arval UK, the fleet specialist within BNP Paribas, will provide contract hire and fleet management solutions. These are primarily for the TIGGO 7 and TIGGO 8 range.
Executive Perspectives on the Partnership
Stephen Hunt, CEO of BNP Paribas Personal Finance UK, stated the group is "building on the successful partnership" with Chery UK to further enhance its automotive lending capabilities. He emphasized the bank’s commitment to supporting OEMs since mid-2024. Lakshmi Moorthy, Managing Director of Arval UK, sees the launch of the TIGGO models as evidence of the group's ability to deliver comprehensive solutions to both manufacturers and customers across the UK and Europe.
TIGGO Models Targeted at Families and Fleets
The TIGGO 7 and TIGGO 8 models will be initially available in petrol or hybrid versions, with five- or seven-seat configurations. Chery UK Country Director Farrell Hsu believes that the finance partnership will give customers "greater choice, flexibility and peace of mind" when purchasing a new family vehicle. These models are aimed at family buyers and fleet operators.
Industry Impact and Future Outlook
Industry analysts highlight that this unified finance approach enables Chery to offer retail finance, leasing, and fleet support through a single partner. This model is increasingly favored by new market entrants seeking to achieve scale in the UK automotive market. By working alongside BNP Paribas and Arval, Chery aims to improve their market penetration.