French bank Credit Agricole mulls car-sharing in Germany

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French bank Credit Agricole mulls car-sharing in Germany

FRANKFURT Reuters -- French bank Credit Agricole is considering launching car-sharing financial services in Germany because the growing market offers opportunities to challenge incumbent players, an executive told trade publication Automobilwoche.

The French bank's consumer finance arm is in a quest to increase mobility related revenues from its car leasing joint venture with Stellantis and other partnerships, as well as from its existing car financing and car rental services.

We are testing car-sharing in smaller towns in France with a population of up to 30,000. If that succeeds, we will take the concept also to Germany, Stephane Priami, head of Credit Agricole's consumer finance unit, was quoted as saying.

He added that the idea was to focus on towns within driving distance of larger cities to put them within reach of customers without a car.

The German market for car-sharing is undergoing a transformation as Volkswagen sells its all-electric car-sharing unit WeShare to Berlin-based Miles Mobility.

Germany's Mercedes-Benz and BMW sold their Share Now venture to Stellantis. Sixt has branched out into car-sharing.