Car manufacturer data can boost PCP renewal
The vast majority of private new car registrations are now made through personal contract purchase (PCP) finance, but finance houses need to be more open with how they share data on customers to increase renewal rates. Recent data from Glass’s estimates PCP penetration increasing from 45% on new car sales in 2011 to as high as 80% in 2014. That rapid growth has led dealers to focus on PCP renewals as one of the main methods for keeping customers within the network and within