“However, trading conditions continue to be challenging and the Chancellor’s Autumn Statement has unveiled another round of austerity measures. The uncertainty surrounding who will take control of government in May’s General Election is also causing some business owners and consumers to put off any expensive purchases.”
The FCA provides us with a once-in-a-generation opportunity to push for a radical change in culture and build an industry around the customer
Gruber continued;
“The coming year will be one of change for our industry. Indeed, 2015 will see the first full year of FCA regulation and, with car sales starting to slow at the end of 2014, there are questions over the potential for future growth within the industry.
“However, if we all embrace the principle of treating the customer fairly, then it is perfectly possible to increase the share of dealer-sourced car finance from the current 75% to more than 80%. We should, therefore, be able to create our own growth opportunities, even if overall car sales continue to slow.
“The FCA provides us with a once-in-a-generation opportunity to push for a radical change in culture and build an industry around the customer. Initial feedback from our dealer partners is that more and more are already embracing this customer-centric approach. As a result, we anticipate another strong year for car finance in 2015.”
Why the Financial Conduct Authority is having a positive impact on the car leasing industry
