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Move towards multi-lender panels benefits all providers
In a properly constructed panel, lenders are not in opposition but meet specific needs. The prime lender, for example, will still be the first port of call and approve the same percentage of deals as they would if they were the sole provider. However, in a panel, there are a number of options to try if the prime declines, with each one offering a different degree of likelihood for approval and risk appetite.
CitNOW integrates with Salesforce to enhance customer communications
Retail staff can easily monitor the performance of any CitNOW video through either Sales Cloud, or Automotive Cloud, including open rates, views and customer ratings. This information is recorded in the Salesforce CRM, enabling managers to monitor customer enquiries and assess how effectively personalised video is being used within their sales operations.
LEASING & FINANCE
Move towards multi-lender panels benefits all providers
In a properly constructed panel, lenders are not in opposition but meet specific needs. The prime lender, for example, will still be the first port of call and approve the same percentage of deals as they would if they were the sole provider. However, in a panel, there are a number of options to try if the prime declines, with each one offering a different degree of likelihood for approval and risk appetite.
Single point dealer processes essential for new FCA Consumer Duty
The ability to record, review and audit all aspects of the consumer journey in one place will prove an important part of the new responsibility to “put customer needs first”.
AFTERMARKET & WORKSHOP
SMR spend on four year old-plus fleet cars up by more...
epyx’s data is taken from the company’s 1link Service Network platform, used by major fleets to manage SMR for more than four million company vehicles. It shows that in 2018, total SMR spend was weighted 72% towards vehicles aged under four years and 28% towards four years and over. By 2022, this has changed to 57% under four years and 43% for four years and over.
Hotel complaints management tool rolled out to car dealers
Resolution software platform was developed by JudgeService for its clients in the hospitality sector as a complaints management tool, enabling hotels to capture live feedback and customer reviews in one place, where performance can then be analysed and issues resolved.
DEALER INSIGHTS
Hike in cost of living would force drivers to sell car
Tipping point – which shows how the current crisis in personal finances could have a direct impact on car use – is revealed in December’s Startline Used Car Tracker. The research also showed that 14% of people said their car would have to go if their monthly costs increased by £100, 29% by £250, 34% by £500, 11% by £750 and 12% by £1,000.
Company cars and EVs drive November market bounceback
Growth delivered the best total for November since 2019, with manufacturers continuing efforts to fulfil orders amid erratic global components supply. However, registrations in the month were still 8.8% below 2019 levels and, while further recovery is anticipated in 2023, global and domestic economic challenges mean that the market will remain below pre-pandemic levels.
JOBS
Tim Meadows appointed CCO at epyx
He is rejoining the company where he spent four years, initially as director of account management from 2016 and then commercial director, before becoming managing director at r2c Online, also FLEETCOR-owned.
