Mazda Europe steps up its drive this autumn to further raise its UK point of sale retail finance penetration in association with Santander, its new partner.
According to a dealer source, new Mazda finance penetration has increased year-on-year from 44% to 57%.
Colin Maddocks, Mazda Europe network development and financing director, said the POS push would be in tandem with the introduction of teams across Europe to help its dealers manage their money more effectively.
“We believe the automotive industry has not focused enough on helping dealers with cash flow and balance-sheet management,” he said.
With the launch of the new Mazda3, the company wants to seize an opportunity with its dealers to continue the fight back against direct and high-street lenders at a time when the food supermarkets and internet lenders are struggling to obtain sufficient funds.
Mazda dealers say the switch to Santander is helping to increase the number of showroom loans.
“Ford Credit gave us a good service, but Santander’s rates are lower and its products and service are just as good,” said one.
Maddocks said: “We believe the tide may be turning against non-automotive lenders and we want our dealers to take full advantage of that.
“For the past three or four years they have faced cut-throat competition on loans, but now they are starting to make more money from them.”
The experience of UK dealers in selling PCPs and other finance products is important to Mazda Europe. “They operate in Europe’s most competitive market for motor finance,” said Maddocks.