F&I Management & Training

BMW Group stepped up its efforts during the first quarter to grow point of sale finance through dealers holding franchises other than its own.

Alphera, the multi-make retail finance and insurance product division of BMW Group Financial Services, reports the first two months were its strongest for new business.

It was launched in the UK in 2006 and operates in 20 countries.

Spencer Halil, UK director of Alphera, said the uplift in Alphera’s business considerably exceeded the rate of growth in the new car market, which increased by 26.6% in March and 27.3% over the whole quarter.

He saw no reason why that trend would not continue in quarter two.

“We took steps last year to put Alphera in a position where we can maintain our support for dealers at a time when other finance companies have scaled back their activity or withdrawn from the market,” said Halil.

“We are continuing to write new business and will be announcing further additions to our range of products and services in April and May,” he added.

BMW Group has said from the start that it wants Alphera to grow sustainably in the UK.

“We are looking for long-term, mutually profitable partnerships based on the strength of our products and our appetite for high- quality incremental business,” said Halil.

Alphera says nine out of 10 dealers in its survey said they saw Alphera as a highly reliable motor finance specialist offering fresh, strategic thinking on motor finance issues.

DATED: 24.05.10

FEED: AM