background

Wells Extends KTM Floorplan Partnership

  • Natalie Mattila
  • March 29, 2016
  • 0
Photo by Schedl R. / KTM

Photo by Schedl R. / KTM

Wells Fargo Commercial Distribution Finance (CDF) has extended its inventory financing program with motorcycle manufacturer KTM through 2020, the companies announced today.

CDF will support dealership floorplan financing for off-road, street, and motocross motorcycles across Mattighofen, Austria-based KTM’s network of North American dealers, according to a company press release. Supported models include the Enduro, MX, Freeride, Naked, Travel, and Supersport series.

“KTM has proven to be a leader in the motorsports industry, and we are pleased to have consistently supported their growth efforts over the last 15 years,” Jeremy Jansen, president of CDF’s motorsports group, said in the release. CDF will continue to provide KTM’s U.S. dealers with “customized financial solutions that meet their unique needs,” he added.

North American GE Capital’s global CDF, North American Vendor Finance, and portions of its Corporate Finance platforms were acquired by Wells Fargo & Co. on March 1, the companies previously announced. Following the acquisition, CDF adopted the tradename Wells Fargo Commercial Distribution Finance.

The floorplan financer also continues to seek new manufacturer partnerships, Jansen previously told Powersports Finance. “There are other OEMs and other programs that we are interested in and are talking to,” he added. “We are always on the lookout for growth.”

CDF is “growing comfortably ahead of the market, which is a testament to our wonderful OEM relationships,” Jansen said. “Year to date in 2016, I’m seeing liquidations up nicely year over year, which is a good thing. There’s a lot of noise in the marketplace right now with certain parts of the economy, but from what I can see, from dealer to consumer, it’s trending nicely year over year.”

CDF provided financing to 5,000 dealers nationally, and more than 40,000 dealers and 2,000 manufacturers and distributors globally in 2015.

  Like This Article

Leave a Reply

Your email address will not be published. Required fields are marked *