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Mazda Assists Dealers in Financial Management

Mazda is making a new step towards a a healthy recovery from the collapsing market with a campaign at dealerships who encounter difficulties in managing their finances. The Japanese manufacturer plans to support UK dealers in managing their money more effectively and monitor dealer cash flow. Additionally, the company plans to collaborate with dealerships on finding new ways to reduce dependence on banks' money, just-auto.com reported.

"We believe the automotive industry has not focussed enough on helping dealers with cash-flow and balance-sheet management," says Philip Waring, Chief Operating Officer, Mazda Motor Europe.

"Cash is king in every business, not least in a small or medium-sized business like a dealership. Our new team helps dealers release cash that is absorbed in their balance sheets, and to manage their banking relationships."

Chris Talman is the new Dealer Financing Manager in the UK and is responsible for creating a better collaboration between dealerships and Mazda. The company also plans to expand its efforts all over Europe, in a move aimed at bringing the carmaker back to profitability after the damages brought by the recession.

"In a small or medium-sized dealership, there can be tens or even hundreds of thousands of euros locked up in the balance sheet - in unpaid retail financing, un-financed used or demo cars or fleet debtors for example," says Colin Maddocks, Director of Network Development and Financing, Mazda Motor Europe. "The new Mazda team can review the processes and controls that affect these areas and unlock cash, taking pressure off the dealer's bank account and freeing up their time to manage the rest of the business."

"Many manufacturers are still using old-fashioned business management consultants to try to help improve dealer profitability by making a fraction more on a sale here or an after sale service there," Maddocks says.
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About the author: Bogdan Popa
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Bogdan keeps an eye on how technology is taking over the car world. His long-term goals are buying an 18-wheeler because he needs more space for his kid’s toys, and convincing Google and Apple that Android Auto and CarPlay deserve at least as much attention as their phones.
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