Financing solutions for our Chinese customers
The purpose of this agreement was to offer financing solutions addressing the needs of the Chinese customers. It is a key step for the group’s strategy to continue Haulotte’s development on this rapidly growing market, which has become the leading world market since 2020.
This market has enjoyed exponential growth over the last five years due to the economic development of the country and the structuring of the equipment rental market. Leading players with fleets of a comparable size to those of some of the major market players in Europe have now become a force to be reckoned with.
Rental companies need financing solutions to support their growth and expand their machine fleets. Due to the considerable competition on this market, local and foreign manufacturers have fully integrated financing, which is part of the services offer in China (Value proposition) and an integral part of the sale of the equipment.
In SGEF, Haulotte has found a valued partner which is both reliable and competitive to provide a financing offer adapted to its customers’ needs.
Interview with Christophe Debatisse, Manager of the Haulotte Financial Services Department, and Olivier Rambert, CEO of SGEF China.
What makes SGEF the ideal partner?
Christophe Debatisse: We decided to work with SGEF after a scrupulous selection of Leasing operators in China. SGEF represents the Leasing branch of the Société Générale, which is itself one of Haulotte’s long-standing partners. We had worked with SGEF in the past in Europe, so we already had shared history with the SG Group, which gave both parties confidence and formed an essential basis for the negotiation of a balanced, competitive partnership. We can rely on the good knowledge SGEF has of the Chinese market, particularly with regard to the regulatory aspect, and SGEF can rely on our expertise in the aerial work platform market and our sales network developed over more than 10 years.
Olivier Rambert: SGEF is a major international player in equipment financing, operating in over 35 countries in Europe, the Americas, Africa and Asia. We have been operating in China since 2005, when the country opened up to foreign leasing companies. Our vocation is to facilitate the sale of our partners’ equipment to their customers by offering financial solutions adapted to the local area. Working in China with a player such as Haulotte is part of our mission: Haulotte is a leader in the aerial lift platform sector, is well-known by our Group, and has an excellent reputation among our teams following previous experiences.
What are the foundations of this partnership?
Olivier Rambert: Our commercial approach is exclusively in partnership with top-tier prescribers such as Haulotte. In practice, this means that we approach prospects or existing customers based on the recommendation of the Haulotte sales teams, never directly. This is an important element for our prescribers, because they known that we are committed to preserving the commercial relationship they have established. However, it is vital to build trust and mutual understanding between the teams for this to work. We have been working hard on this since the start of our negotiations with Christophe.
Christophe Debatisse: Olivier and I have worked together, getting our teams to meet each other on the ground in parallel to our negotiations. This has enabled us to share our respective knowledge of the market, explain our business strategies and find complementary points between our different approaches. We therefore signed our first “deals” during the first quarter of 2022, even before the partnership was signed, which has thus already started to bear fruit!
What are its strengths?
Olivier Rambert: The commitment of both parties to building a balanced, long-lasting relationship. We have been working in China with some partners for almost 15 years, which, in our view, is the best testimony to the relevance of our offer. This is made possible by a constant proximity between our sales teams and also regular meetings between the general managements. In this way, both parties can ensure that the partnership is working properly, undertake improvements and adapt the offer if necessary.
Christophe Debatisse: Risk-sharing is well balanced between the two parties. Haulotte relies on the expertise of SGEF in customer risk-taking, and in return, Haulotte offers remarketing capabilities if any difficulties are encountered on a case. Negotiating this partnership took the time needed to build a balanced, reassuring relationship for both parties.
I was assisted by the Haulotte Financial Services team in this approach, particularly by Jay Wee (HFS APAC). At the end of 2021, Harry Wu arrived to strengthen the Haulotte Financial Services team solely on the Chinese market. It is therefore now Harry who works with the Haulotte Shanghai sales teams and coordinates their work with SGEF to sustain this partnership and ensure that it gives complete satisfaction to our customers.
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