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Rising residuals
Page 69
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rime was when Renault was the )oor relation on the used market
but not any more. The man in
Iharge explains why.
Bruce Allison is a happy man. As director, used vehicles, at Renault Trucks 1K he presided over the disposal f 1,880 second-hand commerials in 2003, including exports. "Sales through our dealer etwork rose by 12%, and we saw strong upward sales trend in the nal four months of the year," he lys."It was running at a rate of 0% above the first eight months." So Why the growth? "The used lick market was fairly buoyant 12003 and we had a good spread f vehicles available," he explains. Better availability of used fidlums certainly helped." The Choice approved used .ucks programme has helped )o. Allison stresses, as has the iarketing of suitable finance and ftermarket service packages to perators. So has continually em phasising to Renault dealerships many of which are owned by the manufacturer, of course that second-hand sales represent a major profit opportunity.
The message is obviously being struck home.
"The number of outlets selling Choice used trucks has risen from 19 to 29 over the past three years, and we're adding more," he says."Renault Trucks Chiltern, for example. is looking to set up a service point in Northampton. and we'll undoubtedly take the opportunity to add a used vehicle sales point.What's more. the number of dedicated secondhand truck sales people has increased from 18 to 35.
-Block exemption didn't cover used vehicles, but the changes it has brought about prompted us to create what we refer to as the Renault Trucks Used Vehicles Franchise. It's only available to members of the Renault Trucks network, and sets out the standards and procedures we expect them to adhere to."
From January 2005 that will include complying with new legislation governing the sale of mechanical breakdown insurance and other insurance packages.
"The change should benefit operators because it should diminish the misunderstandings and confusion that often exist where such warranties are concerned," he suggests. "The days of salesmen saying 'don't worry mate, it's covered by the warranty' will be finished.They'll have to explain things in great detail and comply with proper procedures if they don't, they'll be acting illegally.
-Placing the emphasis on retailing our trucks through the network rather than disposing of them at auctions or through traders has helped improve residual values," Allison reports.
In support of this he cites January CAP Average prices fa three-year old-vehicles: "If you look at curtainsider 7.5-tonners for example. at £11,250 our Midlum 150.08 was £500 behim the equivalent Mercedes-Benz Atego. but ahead of the equivalent model from Daf.
"Looking at 430hp 44 tonne 4x2 tractor units. at £24,400 our Magnum 440.19E3 was ahead c the equivalent Mercedes Actro and Volvo FH12, but behind th. equivalent DAF 95XE" So while Renault isn't leadim the market so far as residuals are concerned, it's certainly a contender.
Which brings us to the bottor line how many used sales will Renault Trucks notch up this year? "We've got to do at least 2,000," he replies."That's the lel we've got to maintain if we're going to recycle vehicles cornim back to us as a consequence of buy-backs, finance leases,and part-exchanges.
"What we're determined to d is avoid any distress remarketin that does nobody any favours." I