THE car finance and insurance subsidiary of the BMW Group, Alphera Financial Services, is reporting another record-breaking year.
Despite the continuing downward pressure from the captive finance new car segment, it has been another incredibly strong year for Alphera
According to Alphera director Andy Gruber, the company, which specialises in Personal Contract Purchase (PCP) finance and insurance products, has seen further double digit growth in the past 12 months; this has outperformed the previous best year in the company’s eight-year history.
Gruber commented about Alphera’s performance;
“Despite the continuing downward pressure from the captive finance new car segment, it has been another incredibly strong year for Alphera thanks to the hard work of the whole team.
“Indeed, the results of the F&I industry as a whole in 2013 and 2014 have been outstanding by any measure. On the back of very strong growth rates in retail car sales, the share of dealer-sourced car finance has increased from 45% to 75% in the course of five years.
