The programs will continue to deliver inventory financing solutions to the manufacturer’s network of dealers, continuing Wells Fargo CDF’s 20-year relationship with Ducati.
The program extension comes just one year after Wells Fargo CDF and Ducati extended their partnership previously.
Ducati’s motorcycles are sold in over 80 countries worldwide, with a primary focus in the European, North American, and Asian markets.
Ducati continues to rely on the Wells Fargo CDF team as an “integral element for the success of the Ducati business,” Jason Chinnock, Ducati North America’s chief executive, said in a company press release. “They’ve been able to evolve and adapt to the changing environment of the motorcycling industry with solutions that enable us to work towards increasing profitability for both us and our dealer network.”
Separately, Wells Fargo CDF will focus on identifying and investing in new ways to expand its existing IT platforms this year, Jeremy Jansen, president of the company’s motorsports group, told Powersports Finance.
“We’ve also dedicated a lot of time to onboarding our new sales team members,” he said. “While this past quarter was spent getting the team up-to-speed and helping them develop relationships with our dealers and manufacturers, we plan on using the second half of the year strengthening IT thought leadership.”
Well Fargo CDF spent much of this year preparing a new pre-owned pricing strategy, Jansen said. This month, CDF will launch a dealer rewards program early in the wake of increasing consumer demand for pre-owned vehicles. The program will operate like a frequent flyer program, he said. “The more volume you do — or the more miles you fly — the better the financing rates.”
Chicago-based Wells Fargo CDF provided $46 billion in financing for more than 33,000 dealers and 1,400 distributors and manufacturers globally in 2016.