Car manufacturer data can boost PCP renewal

Recent data from Glass’s estimates PCP penetration increasing from 45% on new car sales in 2011 to as high as 80% in 2014. That rapid growth has led dealers to focus on PCP renewals as one of the main methods for keeping customers within the network and within the brand.

Contacting a customer before the end of their PCP contract has also become an established method of upgrading customers to a newer model or higher trim level, for an increase in their monthly payments. But getting to that sweet spot with some PCP mathematics can be helped with greater cooperation from the dealer’s finance house.

Grant Long, Norfolk Motor Group managing director, said one of his franchises, Kia, had come on “in leaps and bounds” with the way it shares finance information to help dealers over the past three years.