CAR manufacturers are ignoring the most vibrant sector in the market because they do not engage with leasing brokers.
Personal leasing remains on the rise: in H1 2018 61% of all leasing broker contracts were PCH (BVRLA leasing statistics).
Back in 2013, PCH accounted for 26% of leasing broker contracts; today personal leasing is responsible for 55% of all new contracts. That’s 22,315 cars.
Yet some manufacturers are ignoring this channel to market, by failing to engage with leasing brokers according to the Leasing Broker Attitude Survey 2018.
Brokers reported that Honda, Jaguar and Toyota were three significant OEMs that were clearly missing out.
On the other hand, Nissan was the stand out manufacturer for embracing
the broker channel with a direct relationship. It was significantly ahead of its OEM competitors and was a leader last year. Vauxhall and Ford – the two major volume players – also have close ties with brokers, along with premium brands Mercedes-Benz and Audi.
Ironically, since this attitude survey was taken, brokers tell us that the relationship has broken down – you have to wonder why Nissan would choose to take such a course of action? No doubt the chart will tell us a very different story in 2019 when we undertake the survey.
Rob Whalley, Managing Director of APD Global Research which researched the findings, commented:
“Given the continual decline in new cars sales this year and prevailing uncertainty, I am sure that manufacturers will have increasingly aggressive campaigns to support the market.
“It is very surprising that a vibrant and growing sector does not warrant or get the focus it clearly deserves.”
“The Leasing Broker Federation survey also reveals a confidence for the future from brokers which doesn’t really appear elsewhere. It also shows that manufacturers who support leasing brokers get the right response.”
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