An introduction to Motor 2020
The motor finance industry in the UK is currently experiencing a period of rapid change. Changes in regulation, increased competition, the way consumers approach vehicle purchase and new routes to market, are presenting motor finance providers with challenges and opportunities.
In response to the evolving market, Close Brothers Motor Finance has developed a significant change programme. Motor 2020 will deliver the transformation needed to support the business’ existing model and build capability for the future.
In order to execute the programme, there is a need to recruit talented, highly driven individuals. This is a rare opportunity to make an impact across a substantial portfolio of ground-breaking significance.
The changes we’re making are large and complex. They involve a broad spectrum of factors – from the customer, through people, processes and software, to enhanced technology.
You’ll be an essential part of delivering some of the most exciting changes in our history.
Some interesting industry facts…
- The average loan size, according to our data, has increased by 46% over the last 10 years
- Despite the changes in the industry and the ever-evolving consumer buying behaviour, our own survey data shows that face-to-face advice from motor dealers is still extremely valuable to people
- 17% of consumers say Brexit will affect their buying plans for the next 3 years
- The average UK driver spends 8.2 hours in their car per week, 426 hours a year, or nearly 18 days a year
- The Electric Vehicle market has grown significantly over the past few years however at the end of 2016, Electric Vehicles only made up 1.36% of the total UK market share for new car registrations