CHP Consulting has teamed up with the International Auto Finance Network, the University of Buckingham, Asset Finance International and Grant Thornton to present the second IAFN CEO Study, a key piece of research that discusses the priorities for the auto and fleet finance industries.
Welcome to the second IAFN CEO Study, which we believe is the most accurate barometer of what people in our industry think and expect.
The forthcoming pages will expand on how our industry feels on various key issues, among them changing consumer behaviours and buying habits, particularly where more buyers are paying for the use of a vehicle, but not feeling the need to own it. Not only are consumers demanding more flexibility and value from their contracts, they are also much better informed these days – so much so that a visit to the dealer is often just about the finance, and not the vehicle at all. We are seeing adjustments in operations to address this – such as more funding sources and availability in general, and plenty of investment in sales, marketing and account management.
You’ll learn about all aspects of our day-to-day work – such as the direction we think used car residual values will take, what changes we can expect in outsourcing, compliance and taxation, and what the important environmental issues are. The report expands on how consumers continue to demand innovation, particularly in the field of IT solutions. In turn, lessors make that demand of us at CHP, as a provider of software. In 2014, only 20% of respondents intended to make significant investment in their core IT systems within the next two years. This year that figure is up to 52%.
The expert deconstruction of the statistics in this report, allied with the 2014 comparisons, will help us all meet these demands and more. We hope you derive plenty of value and I wish you the best of luck for the rest of 2016.
Chief Operating Officer