Despite the end of the mining boom, the economy in Australia has held stable, relative to Europe and the US, with ‘positive developments’ for the auto and fleet finance markets, according to White Clarke Group.
General Motors Financial Company is set to reacquire GMAC UK in a global swoop for the international funding operations of Ally Financial, while Santander has announced plans to pull out of the US, and Vauxhall, the biggest-selling brand under the GM umbrella in the UK, has declared it wont chase fleet sales to close the registrations gap on Ford.
However, for the majority of car dealers, prospecting is not a task that is undertaken with excitement or enthusiasm rather the opposite The flaws in the traditional approach are clear when looked at from the customers perspective:
The company is on the lookout for new portfolios to manage, while hoping to remove barriers to entry for foreign investors looking to lend by providing an end-to-end outsourcing service. Commercial manager Graham Donald admits the motor finance market has been “a bit more circumspect in the past year” but is confident HML is in a position to diversify into secured and unsecured lending.
Nissan Motor Company announced a 12% loss in net income for the first half of the financial year (ending 31 March 2012), compared to the same period in the previous year, though vehicles sales rose by 10.7%. Compared to 2010, from April-to-September, 2011, net revenues were up 1.1% to 4.4trn (£34.97bn) and operating profit was down 7.5% to 309.7bn.