“It might have been easier to make one change, consolidate and then another,” he says. “But in a rapidly changing market we opted to bite the bullet and make changes we are confident will create a new benchmark.
“Our customers will start to see the benefit of the changes we have made as we help them to ensure F&I is a long term profit centre.”
Standish says bold steps are needed, with point-of-sale finance sales continuing to fall and with fears about the impact of rising interest rates. “Our investment is a reflection of our commitment and confidence in the future of dealer finance,” he adds.
Carlyle has moved its Centre of Motor F&I Excellence HQ to new premises, trebling space “as the business gears up for growth”. The firm has recruited 16 employees to improve field coverage, and set up new regional teams and a team of F&I specialists.