Lloyds TSB selling new and used cars online

Lloyds TSB selling new and used cars online

25/10/2001 in All News

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Lloyds TSB has started offering new and used cars online in a service branded Motordirect, offering fleet-level discounts on 35 vehicle marques, including Alfa Romeo, Volkswagen, Ford and Vauxhall, to its 16 million customers.

One of the catchlines to its sales pitch is “no haggling and no pressure from salesmen”. The bank believes it will sell about 3,500 cars this year, together with significantly boosting its car finance business.

Lloyds TSB is offering UK-sourced vehicles only, delivered free, with part exchanges and free collection. The price also includes 12-months Road Fund Licence and roadside assistance with every car.

The vehicles are sourced through the bank's leasing operation Lloyds TSB Autolease which has 92,000 vehicles on contract. Autolease's dealers will supply the new cars. The bank promises 'fleet prices' by passing on the savings to customers from bulk-buying cars on its fleet.

Defleeted used cars are at the moment being offered only to the bank's staff.

Mark Stokes, Lloyds TSB's customer relationships director said: “The motivation behind Motordirect is to increase our customers' dealings with us, extending our reach beyond traditional finance. This is as much about selling finance as selling cars.”

He stressed that a transaction cannot be completed without a customer contacting the bank's call centre staff. They liaise between the customer and the dealer. The dealer delivers the car, establishing a relationship for servicing and maintenance of the vehicle.

Motordirect offers two ways to pay, personal contract purchase and personal contract hire.


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Alfa Romeo

Rapid change is coming to Alfa Romeo, with a string of new models planned over the next few years and a return to its Italian roots.

All future product, including engines, will have to be built in Italy to warrant wearing an Alfa Romeo badge, while hundreds of new staff in model development will help to bring seven new cars to market by 2018, including two SUVs, a new saloon and a supercar which will sit above the 4C.

Model development is being driven by two senior heads brought over from Ferrari.

Dealers seem to be positive about the plans, with overall satisfaction climbing, despite sales dropping nearly 3% last year in the UK, leaving the brand with 0.22% market share.

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