Wells Fargo Commercial Distribution Finance (CDF), part of Wells Fargo & Company, announced a seven-year extension of its inventory financing program with motorcycle manufacturer KTM. The exclusive agreement, which currently serves more than 600 dealers in North America, has now expanded to Australia and New Zealand, where Wells Fargo will support floorplan financing of street and off-road bikes for nearly 100 dealers.
Headquartered in Mattighofen, Austria, KTM is the leading European manufacturer of motorcycles, serving more than 50 countries across the globe. KTM’s factory racing teams have seen great success on the world stage, beginning with its Junior Racing programs and continuing up to the highest level of professional racing.
“We are proud to have worked with Wells Fargo for nearly three decades in the North American market,” said Viktor Sigl, Chief Financial Officer for KTM. “KTM’s business is global, and it only makes sense to expand our relationship to additional markets. We are extremely excited to add Australia and New Zealand to our successful collaboration and service our dealers in those countries.”
Jeremy Jansen, Head of Wells Fargo CDF’s Motorsports Group, said, “Following what has already been a wonderful relationship for 27 years, we are thrilled that KTM has chosen us as their preferred finance provider for another seven years. We will maintain our dedication to their expansive dealer network in North America and look forward to leveraging our expertise, analytics and scale to support KTM’s growth goals in North America, Australia and New Zealand.”
For a more in-depth look into the longstanding relationship between Wells Fargo and KTM, visit here.