Japanese carmaker Mazda aims to grow its UK business by 20% in the 2013 financial year (FY) and continue its above-average finance penetration rate.
Alongside the manufacturer’s growth plans, Mazda Financial Services said its level of finance penetration in the first quarter of 2013 was "above the Finance & Leasing Association national average", which, at the end of March, stood at 72.9% as a 12-month rolling total for the share of new cars bought on dealer finance.
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Mazda’s captive finance partner was highly active in the first quarter, extending its zero deposit, 0% APR deal on the Venture and Mazda5 42-month PCP deal, adding £2,500 deposit contribution on Mazda PCP purchases and offering 5.9% APR with zero deposit and conditional sale on all models.
Alternatively, £500 deposit and £250 additional part exchange ‘loyalty saving’ was made available to those taking 5.9% APR PCP on the Mazda6, while the Mazda2, Mazda3, Mazda5 and Mazda MX-5 were available with zero deposit and 5.9% APR, or 50% deposit with 0% APR, and a PCP option including a deposit contribution of between £219 and £2,131.
Mazda Financial Services said such offers would remain "at our forefront" during the planned period of growth and were "an important part" of the brand’s retail strategy.
Part of Mazda’s retail aim will include 31,000 annual sales in FY 2013. According to the Society of Motor Manufacturers and Traders, the brand recorded 26,183 new registrations in the 2012 calendar year, down from 31,219 in 2011.
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By GlobalDataHowever, Mazda is banking on ‘product-led growth’ this year with Jeremy Thomson, managing director of Mazda UK, adding the "ambitious" growth would be from the "new generation" of Mazda models, and the marque anticipates 7,500 of the 31,000 sales will be units of the Mazda6 launched in January.
Mazda has also cut the number of its UK franchised dealers from 157 to 135 outlets in a bid to increase sales per dealership and dealer profitability.
Mazda posted a global profit of ¥34.3bn (£220.3m) for FY 2012, up from a loss of ¥107.7bn for FY 2011.
richard.brown@timetric.com
