V12 Vehicle Finance (V12VF) has reached its third-year anniversary with document gross sales figures.
The used automobile supplier posted £65.4m in inventory funding to used automobile sellers in 2021, 414% up on the £12.7m of enterprise it did in 2020.
This month, V12VF stated it reached one other milestone when it surpassed the £150m inventory funding finance mark.
Ciara Raison, V12VF business director, stated: “Our supplier suggestions is that they actually like how we deal with them as particular person companies and might supply business options which match their enterprise mannequin.
“The simplest option to sum up how we assist our sellers is that we save them cash, we make them cash, we save them time, we take away trouble and we give them peace of thoughts.”
In November 2021, V12VF introduced it supplied £50m value of inventory funding for impartial and franchised automobile sellers within the UK.
The corporate launched its inventory funding answer to the market in June 2019 to assist sellers supply inventory and finance used autos.
Raison stated V12VF are planning for advances within the market equivalent to on-line automobile gross sales and the rise in electrical autos (EVs).
She added: “The pandemic has compelled sellers to have a look at their fashions and repair their prospects remotely. This in flip has given prospects confidence to purchase on-line, a development that’s more likely to improve.
“The timing for disruptor fashions equivalent to Cinch and Cazoo has been advantageous for them in establishing their fashions. And at last, there may be an acceptance of presidency course away from fossil fuels.
“In an effort to win wanting ahead, lenders will want to have the ability to assist these modifications each when it comes to their know-how and tradition.
“Our programme does this. We’ve got constructed the aptitude to underpin our future progress and have a longtime tradition of innovation.”
Used automobile retailers have been urged to deal with accelerating their EV inventory holding to round 10% of their forecourts in a bid to embrace an inevitable rise in demand for pre-owned EVs.