DEALERS SHOW SATISFACTION WITH THEIR MANUFACTURERS’ FINANCE SCHEMES

Published 22/09/2016 00:00:00 in Press Releases

Finance deals are key to the new car market with dealers reporting a high level of satisfaction with their manufacturers’ finance schemes”, said Sue Robinson, Director of the National Franchised Dealers Association, commenting on the recent results of the NFDA Summer 2016 Dealer Attitude Survey.

The survey asks three questions about consumer finance. These asked dealers to rate the competitiveness of their manufacturers’ finance programme, the reasonableness of finance penetration and renewal targets set by manufacturers as well as of the underwriting stance and customer service aspects of manufacturers’ finance programme.

The question, ‘how satisfied are you with the competitiveness of your manufacturer’s finance programme?’ returned an average score of 7.2 points*, which showed a high level of satisfaction amongst dealers. Eight franchises scored 8 points or more suggesting a significant number of them were satisfied in this area. Mercedes scored the highest at 9.5, while Mitsubishi was the lowest scoring with 4.5 points.

When responding to ‘how satisfied are you with the reasonableness of the finance penetration and renewal targets set by your manufacturer?’ Dealers returned an average score of 6.9 points. This score was marginally down on last summer’s survey, but was 0.1 points higher than the winter’s result. Mercedes had the highest score also in this question with 9.2 points, which showed a steady improvement over the past two years. Mitsubishi and Volkswagen sat at the bottom of the table with 5.3 points.

Finally, dealers returned an average score of 7.2 points when rating the ‘reasonableness of the underwriting stance and customer service aspects’ of their manufacturers’ finance programme. This score was again very positive; it has not changed since last winter’s survey. Lexus was the top scoring dealer network with 8.6 points.

Robinson concluded, “Low interest rates will make finance more affordable for consumers and offset possible increases in prices, particularly of certain imported vehicles due to sterling’s devaluation. Retail incentives and finance offers support consumers’ confidence and it is vital for the industry that dealers continue to be able to offer attractive deals.”

 

ENDS

NOTES TO EDITORS: *Each score is ranked on a points scale from 0 – 10.

Rupal Rawal, Press Officer
Tel: 020 7307 3412
Mob: 07528 977 157
Press Office direct line: 020 7307 3422
Press Office fax: 020 7307 3406

Web: www.rmif.co.uk  Email: rupal.rawal@rmif.co.uk

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

Back to Articles
Back to Articles

Cookies

This site uses cookies. Some cookies are essential to ensure our website works for you in the best possible way. You may delete and block all cookies from this site, but parts of the site may not work. To find out more about cookies on this website and how to delete cookies, click here to see our cookie statement.

Close