Download TWG Europe Bulletin - paperchase public relations

PRESS RELEASE
Increased used car supply set to
place new emphasis on warranty
provision, says The Warranty Group
Staines-upon-Thames, UK – 15 August, 2016
Increased used car supply in the UK in the remainder of this year will see
dealers place a renewed emphasis on the overall customer proposition –
including the warranty.
The Warranty Group, a leading global provider of warranty solutions and
underwriting services, says that a higher level of competition in the market
will see dealers looking to differentiate their offering as buyers find a wider
used car choice available.
Ian Simpson, European managing director - Automotive, said: “There has
been quite restricted supply in the used car sector in recent years but the
general consensus is that we are now at a tipping point where stock will
become much more widely available.
“There are widespread predictions that this will lead to more price
competition in the sector but smarter dealers will generally keep away from
entering into a price war with their competitors.
“Instead, we expect to see a greater than ever accent on the customer
proposition, with dealers seeking a degree of differentiation by providing a
complete used car package.
“The warranty will obviously be part of this and we are expecting to see a
general move towards longer and more comprehensive warranties as
standard over the next year.”
Ian said that the warranty element of such a package was designed to
provide customers with greater peace of mind surrounding the car.
“As far as the customer is concerned, a more extensive warranty reflects a
high degree of faith in the vehicle by the retailer and marks the purchase
out as more reliable, even if it is a little more expensive.
“We would expect this to be one of a number of elements to the dealer
package, probably including a comprehensive provenance check and a third
party condition check.
1
“Some of these features are similar to the work that we undertake in
partnership with the RAC on its BuySure initiative and we believe that this is
very much the direction in which the used car sector is heading.”
About The Warranty Group:
Celebrating more than 50 years of industry leadership, The Warranty Group is one of the
world’s premier providers of warranty solutions and related benefits, serving more than 50
countries through our 1,600+ employees. With Virginia Surety Company and London
General Insurance Company as our wholly-owned insurance companies, The Warranty
Group is a single-source solution that provides underwriting, claims administration, and
marketing expertise to many of the world’s leading manufacturers, distributors, and
retailers of consumer goods including automobiles, homes, consumer appliances,
electronics, and furniture, as well as specialty insurance products and services for financial
institutions. For more information, visit www.thewarrantygroup.eu.
Corporate Contact:
Robert Bean, Vice President of Marketing
[email protected], +1.312.356.2510.
Local Contact:
Oliver Rose, Digital Marketing Manager
[email protected], +44 (0)1594 863 000.
ends
2