Member Article

Redditch Volkswagen - number 1 for renewals

A thriving Redditch motors business continues to top a national league table for finance renewals.

Redditch Volkswagen, part of Trust Group UK which also has Volkswagen sites in Wolverhampton and Stourbridge, has been Volkswagen’s number one dealership for finance renewals since November last year.

Renewals currently run at around 48 per cent – with Stourbridge one percentage point behind, in second place at 47 per cent.

Brand manager at Redditch Volkswagen, Malcolm Toon, said: “I am delighted that we continue to top the Volkswagen table nationally, it is testament to the hard work of our renewals team.

“We earnestly pursue the right deal at the right time for our existing finance agreement customers. We are able to approach them armed with the relevant figures such as how much they still owe, how long their current agreement has to run, what their car is worth and what a brand new car would cost them on finance.

“We consciously and actively identify the people we know will want to – and be able to – renew.”

Volkswagen research indicates that one in 10 people in the country drives a Volkswagen, and that 60 per cent of people who buy a Volkswagen return to the brand.

“The aspirational benchmark set for renewals is 60 per cent; most dealerships run at around 20 to 30 per cent. But here at Redditch and Stourbridge, we run in the high 40s and sometimes even at 50 and 60 per cent.”

One of the secrets to Trust Group’s success is the high energy renewal events the dealerships hold. Malcolm added: “A couple of times a year we hold an invitation only renewals event. We put on a bit of a party, make the evening fun and it works - with more than 65 per cent renewing on the night.

“It’s all about targeting the right people with the right deal. Typically, customers buying on finance sign up to a three year plan but might think about changing the car around the two year mark. Our goal is to reach that customer before they look elsewhere.”

For more information about the Trust Group and the various finance deals available, visit the website at www.trustgroupuk.com/volkswagen

This was posted in Bdaily's Members' News section by Sam Taylor .