News

Press Release - 25 March 2008

Bank of Scotland Dealer Finance

Bank of Scotland Dealer Finance has launched a new training scheme which aims to boost productivity and the bottom line for its dealers. The aptly named, “Elevation” Programme, is a powerful combination of business consultancy and training support to deliver lasting culture change and long-term results. 

The announcement comes following commitment by the dealer finance arm of Bank of Scotland Corporate to increase its focus on dealer training in 2008. The introduction of “Elevation” will offer a whole suite of courses that will enhance professionalism in the showroom and improve processes throughout a dealer's business.

The programme will provide a ‘health check’, for dealers, which will analyse performance and identify key challenges for the business. Solutions will be adapted to suit the needs of the individual dealership and members of staff. The strategy is measurable and supported by a "Development Needs Analysis".

Peter Cottle, Head of Strategic Accounts at Bank of Scotland Dealer Finance says:

"The downturn in the economic cycle is increasingly having an effect on consumers considering making significant purchases. New car sales are being heavily supported by manufacturer subventive programmes which have a negative impact on dealer income. With this in mind, many of our dealer partners understand that training boosts productivity and the bottom line.

“Our effective training methods include, residential courses, one to one coaching and mentoring, and are suitable for everyone, including Sales Managers and Dealer Principals.”

Bank of Scotland Dealer Finance will also be supporting the automotive industry charity, BEN as part of its Corporate Social Responsibility.

Peter comments: “For every dealer member of staff that registers for a formal training course of one day or more, £10 will be donated to BEN – so the benefits of training will also be felt by those people that BEN help all year round.”

Charles Davis, Director of Fundraising, at BEN says “Our congratulations go to Bank of Scotland Dealer Finance for launching such an innovative training programme for dealerships throughout the UK. At a time when retailers are being affected by falling profit margins and facing many other challenges we believe that the Elevation Programme will deliver long term results. We are particularly grateful to Bank of Scotland Dealer Finance for its support to our charity over many years. We are always looking for ways of increasing fundraising income and the introduction of this new initiative will help BEN sustain the level of care we give each year to more than 15,000 men, women and children in our industry.“

For more information please contact Nancy Jones or James Crawford at Biss Lancaster PR on 0161 236 2277 or firstname.lastname@bisslancaster.com

Notes to editors:
Bank of Scotland Dealer Finance is committed to supporting UK motor dealerships with a comprehensive support package that includes point of sale consumer finance and insurance products, bespoke training, dedicated field personnel, database management, dealer stocking facilities and marketing expertise. It funds around 500,000 vehicles in the UK and has successful business relationships with more than 3,000 motor dealerships, providing some £300million of stock funding to supporting dealers. Bank of Scotland Dealer Finance has also established a number of joint venture companies and business relationships with key players in the UK motor industry.
Bank of Scotland Corporate, part of the HBOS Group, has a reputation for excellence in the provision of corporate finance, delivering innovative funding solutions across a range of markets. With experience across many areas of corporate finance, including specialist teams covering Joint Ventures, Integrated Finance, Structured Property Finance, Infrastructure Finance and Housing Finance, Bank of Scotland can draw on an expert pool of professionals with proven track records. Bank of Scotland provides funding to more Management Buy-Outs than any other bank in both the UK and Europe and is now recognised as the top UK arranger for PFI/PPP deals. Bank of Scotland Corporate employs around 9,000 employees. Total lending at June 2007 stood at £95.8 billion.

BEN was founded in 1905 by Arthur Wilson (1858-1945) - a leading advertising agent in the motor and cycle industries - to provide care and support for employees and their dependants in times of need. The charity ooffers financial, emotional and practical help and support to more than 15,000 men, women and children who have a connection with the automotive sector.