Customer service is the most important factor when buying a vehicle, offering dealers an opportunity for differentiation. Understandably, dealers are also embracing technology as they focus on new sales channels such as social media. It’s notable that the financing of e-components (e.g. batteries) has risen significantly in importance compared to the previous 2011 survey.
Push on new technology financing
Given the relatively high prices of electric cars, financing of e-components provides an attractive opportunity to make e-mobility affordable to the mass market. Battery financing could be a way to help manufacturers establish their brands in the lucrative finance and lease market.
Benefits of operating a captive financial service arm
As the majority (64 percent) of respondents acknowledge, a financial service arm can make a big contribution to automotive OEM’s retail success. The two biggest benefits are increased sales and brand loyalty. A captive also enables better support for suppliers and/or dealers, which was particularly highly ranked by respondents from the Americas and ASPAC region.