French marque Peugeot has attributed its rise in retail sales in the first half of 2013 in part to its finance offering.
The brand sold 56,523 new cars in the first six months of 2013, up 7.19% on the halfway figure last year which was 2.37% ahead of the figure for H1 2011.
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The H1 2013 performance includes 9,887 new cars registered in June, up by 13.54% year-on-year, according to the Society of Motor Manufacturers and Traders. Peugeot new car registrations were up year-on-year each month this year except May.
Fuel key
With many brands promoting ‘affordability’ of vehicles through finance, particularly PCP, which Experian Automotive recently claimed had changed the expectations of ownership among UK consumers, Neil Moscrop, director of sales at Peugeot UK, highlighted "low cost of ownership" and "an aggressive list price" as parts of the brand’s retail strategy.
And a "key factor" within this, according to Peugeot, has been Just Add Fuel, its branded contract-hire finance package, including insurance, which was launched in June 2010.
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By GlobalDataThe scheme was expanded in August 2012 with the latest 208 model, the VTi 1.0 litre, added in January this year. Finance for the manufacturer is operated through Banque PSA, captive finance provider to both Peugeot and Citroën.
richard.brown@timetric.com
