Transcript sell more cars

MotoNovo Finance
This is where we are now
But
We need to be more consumer
centric
It is not good enough
for the future!
2014 – The Year of the Consumer
Regulation
insists upon
customer
satisfaction
90% of all
vehicle sales
now begin
online
Innovation is
vital in an
improving
economy
Meeting the customers needs is
the only way to succeed
More
competition
from all
sides
Change is
being driven
by consumer
power
The 21st Century Customer
Increasing Web
Finance & Car
Sales
Those who offer more choice will
win more customers
70%+ of
customers would
consider PCP
53% start search
with Monthly
Budget
54% of dealer walk
in’s are driven by the
internet
90% use the
internet to
research next
vehicle
80% sleep next to
their smartphone
Your business can
compete with every
other dealership
If we don’t take care of the customer then
someone else will
FCA “The Opportunity”
Ensuring fair outcomes for consumers
Key Issues that the industry have to consider are:
How the customer rate is determined
Staff incentives and commission
models
Affordability assessment of the
consumers
System controls, reporting, training
and competence
There is significant opportunity within the FCA changes that should
result in major gains in POS finance penetrations over time
Consumer Focused Approached
In New Regulatory Future
Lenders who support a new
and sustainable
consumer/dealer centric
model that embraces the
power and reach of the
digital channel
Lenders who
develop
products &
services for
todays
customer
Lenders who are
dedicated to
adding value to
dealers and brokers
Lenders who
offer more
choice to the
consumer
Lenders who
lead the way on
industry wide
initiatives
Lenders who support a consumer based model will
help dealers sell more cars to sell more finance
Setting Lenders Apart
Offering more choice and greater affordability
Is truly Treating Customers Fairly
Help Dealers
compete
when your
asleep
Help Dealers
& Brokers
retain more
customers
8
Help the
customer
afford a wider
range of
vehicles
Help the
consumer
arrange
finance online
Give the
consumer
more
information
and choice
Protect POS
Finance from
the return of
Direct
Lenders
Lenders To Support The
Consumer Buying Process
Finance Advice
Sell More
Cars
Increase
Retention
Speed &
Convenience
Online
Account
Discount Shopping
Holiday
ANY
QUESTIONS?