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SEARCHAbout 75 of Ford Motor Credit Co.'s salespeople will be reassigned to train dealership F&I managers by the first quarter of 2006.
About 75 of Ford Motor Credit Co.'s salespeople will be reassigned to train dealership F&I managers by the first quarter of 2006.
The goal is to help dealers increase captive financing penetration and promote Ford F&I products, reported Automotive News.
As "sales development managers," these salespeople will focus on products such as extended warranties, credit life insurance and GAP insurance.
The training position is part of Ford Motor Credit's North American consolidation of Ford, Lincoln Mercury, Jaguar, Mazda, Volvo, Land Rover and Primus brands under one group. Owner loyalty has risen consistently among people who finance through the captive, said A.J. Wagner, president of Ford Motor Credit North America.
Captive finance customers are 20 percent more likely to buy another Ford Motor vehicle than those who finance with a bank or credit union, Wagner said. For lease customers, owner loyalty is 32 percent higher.
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