Why is the used vehicle market so strategic?
Worldwide, the used vehicle market is two to three times larger than the new vehicle market. In some countries, such as Russia, it is nearly four times larger. It is also more stable than the NV market and this stability is essential for certain countries and our dealer customers. In addition, Renault and Nissan did not wait for us to move into this market and launch their labels.
In the three years that we have been working together, the labels have been enhanced by our expertise in financing, services and digital technology. We helped the Alliance brand networks to appropriate this new version of the “Renault Selection” and “Nissan Intelligent Choice” labels and are proud of our contribution to their success.
How do you see your positioning relative to the competition?
The competition takes many forms and is highly aggressive. But practically no other mainstream players offer a comprehensive and integrated offered such as the Alliance’s. This positioning is unique in our 24 operating countries. The synergies between RCI Bank and Services and the Alliance brands are clearly our key strength, as demonstrated by the figures. Since 2016 we have generated 120,000 extra contracts thanks to used vehicles, for a 29% increase in financing and a 25% increase in services. Naturally, this momentum fully benefits the Alliance brands, with Nissan, for example, having grown its sales by 21% thanks to financing.
Faced with increasingly aggressive competition, we need to be inventive, agile and innovative if we are to keep our lead.
What means are you implementing to support your teams in the field?
We would not have been able to achieve this kind of success without the unwavering commitment of our teams on the ground and that of the dealers they support. We have organized numerous training sessions in 24 countries. For example, in Italy and Switzerland, the used vehicle team meets with the used vehicle salespeople of the dealership every year to train them and keep them informed of the latest financing and service offers. This close relationship is vital for receiving real-life feedback on our offers and how they match customer needs, especially since we need to continue innovating to constantly upgrade them.
