Ducati North America extended its floorplan financing program with Wells Fargo Commercial Distribution Finance to continue offering inventory financing to the motorcycle manufacturer’s network of authorized dealers, according to a company press release.
Ducati’s motorcycles are sold in over 80 countries worldwide, with a primary focus in the European, North American, and Asian markets.
The OEM has maintained a 19-year relationship with Wells Fargo CDF, who has been a “vital part of our development in the U.S. market,” Jason Chinnock, Ducati North America’s chief executive, said in the release.
CDF continues to ramp up its powersports presence after its merge with Wells Fargo & Co. in March. The floorplan financier first hinted at its continued expansion into the industry one month after the acquisition. “There are other OEMs and other programs that we are interested in and are talking to,” Jeremy Jansen, president of the motorsports group at CDF, previously told Powersports Finance. “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,” he added.
Chicago-based CDF provided $47 billion in financing for more than 40,000 dealers globally, 5,000 dealers nationally, and 2,000 distributors and manufacturers globally in 2015.