The past, present and future of motor finance

"As 2019 draws to a close, I think we can all reflect that it has been a busy and for many challenging year in the car retailing and financing sector.

It seems apt with Christmas looming on the horizon that, to paraphrase a well-known quote from Charles Dickens’ Christmas Carol; motor retailing need to; “live in the Past, the Present, and the Future.”

The Past is all about recognising the expertise required to buy, prepare, stock and sell a depreciating asset and not give that expertise away lightly to others who wish to leverage its value;

The Present is about understanding that without customers, we have no business. It is knowing that success is about delighting each person whether it is face-to-face or increasingly online with a personal, tailored approach and that only dealers can provide a true omnichannel experience and back-up service;

The Future is about demonstrating the agility to meet changes in regulation, digitisation, increasing competition and challenges to the traditional business model and the importance of evolving that model.

Changes are ahead, but that has always been the case. What also remains true is that at MotoNovo, we will, as always be ready to stand side-by-side with the dealer community in 2020. With new innovations and our dealer-centric support, we are ready to collaborate and help dealers to win customer approval in what will be rapidly changing market."

"Thank you for your support in 2019. Our best wishes for the festive season and  a prosperous 2020"

Mark Standish, CEO of MotoNovo Finance