Santander’s new leadership eyes deeper dealer ties with expanded services

Santander Bank is refining its dealer commercial services strategy under new leadership, focusing on strengthening dealer relationships and expanding beyond its traditional role in retail auto finance. Santander is working to reinforce its position with dealers while broadening its overall capabilities, Christopher Mitcham , who became head of dealer commercial services on March 19, told Auto Finance News . “We want to make sure we continue to expand that story that we’re more than [retail]. We’re a full-service bank that can service all their dealership needs front to back.” — Christopher Mitcham, head of dealer commercial services, Santander A key part of Santander’s approach is offering more services, including floorplan financing, commercial real estate financing, syndication financing and the sale of treasury products, Mitcham said. Added services support dealers across operations and growth. Santander will also expand its operations through its acquisition of Stamford, Conn.-based Webster Financial , announced in February and expected to close in the second half of the year. As Santander integrates Webster’s business lines into its global operations in the United States, its offerings will become more holistic. Dealers increasingly want financial partners that understand what it takes to run a dealership, Mitcham said. “They want partners who understand the unique challenges of their business, how their operations work, their cash flow, their inventory management,” he said. Helping dealers navigate market challenges Dealers want lenders that can provide services beyond retail lending and that understand the dealership framework, as dealers continue to face pressures around affordability , inventory and gross profit, Mitcham said. Despite these headwinds, dealers continue to benefit from steady access to capital and diversified revenue streams, such as parts and service, which help maintain stability in the current environment, Mitcham said. The average dealer parts and service revenue was about $9.2 million in 2025, up 33% over the past eight years, according to Cox Automotive ’s 2026 Fixed Operations and Ownership Study released on April 9. As loan terms lengthen and customers keep vehicles longer, parts and service become more important to dealers. That environment “is an opportunity for dealers to focus on [operational] discipline and also lenders to focus on consistency with the dealers,” Mitcham said. “Whether it's a retail partner or a commercial lending partner, that consistency that we're going to be there through the cycle is important.” Santander's global reach Santander Consumer USA was the ninth-largest auto lender by outstandings at yearend 2024, with a portfolio totaling $54.9 billion, according to the latest Big Wheels Rankings data . The bank’s global footprint also plays a role in its strategy; its relationships in Europe and the Americas allow Santander to provide global insights into automaker strategies that inform dealer decisions in the U.S., Mitcham said. The bank’s “Dealer Commercial Services business is absolutely embedded in that whole OEM, captive and dealer sales ecosystem in a unique way,” he said. “Santander really leans into leveraging those relationships, leveraging the knowledge of what the OEM is looking to accomplish in any given market, and then providing those solutions to dealers to accomplish that.” Mitcham will join the panel “Emerging players and private credit in auto finance ” on May 11 at the Auto Finance Capital Summit, which takes place May 11-12 at the JW Marriott in Nashville, Tenn. To see the event agenda and register, visit autofinance.live .

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Santander’s new leadership eyes deeper dealer ties with expanded services

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