Record-Breaking Dealership Deals: Insights from Van Horn and Shorkey Groups

Leasys's Success in Auto Sales Training and Growth Strategy for 2024

Update Leasys Achieves Remarkable Growth for 2024 In a year marked by strategic consolidation and impressive growth, Leasys, a joint venture of Stellantis and Crédit Agricole, has released its full-year results for 2024 that highlight not only significant financial milestones but also a commitment to innovation and sustainability in the automotive sector. With 243,000 contract activations, a staggering 87% year-over-year increase, Leasys solidified its position as a leader in the long-term rental (LTR) market. Understanding the Key Highlights Leasys's impressive performance can be attributed to specific growth areas. Among the notable achievements was a threefold increase in light commercial vehicle (LCV) contracts, alongside a 50% rise in contracts for electrified vehicles. This indicates a strong response to market demands for both versatile fleet options and eco-friendly vehicle solutions, reflecting the company's adaptability in a rapidly changing market. Efficiency and Financial Discipline The fiscal discipline maintained by Leasys is evident in its financial reporting. The total earning assets exceeded €10.2 billion, representing a robust 36% growth from the previous year. The company achieved a gross operating margin of €388 million, a 12% year-over-year improvement. Notably, Leasys maintained a stable cost-to-income ratio of 51%, underscoring its operational efficiency despite rising operating expenses. Innovative Strategies and Digital Transformation The effective implementation of digital tools has played a crucial role in Leasys's growth. The launch of the Leasys e-Store for LEV rentals and enhancements made to the My-Leasys platform have optimized fleet management and improved customer experience. In 2024, customer satisfaction surged, evident from a 13% increase in Net Promoter Score (NPS). These developments signal Leasys's commitment to enhancing customer loyalty and adoption of sustainable practices. Key Takeaways for Dealership Owners For dealership owners and general managers, the success of Leasys reinforces the importance of embracing digital transformation within the auto sales ecosystem. As illustrated by Leasys’s proactive strategies, integrating technology can lead to not just survival but thriving in the competitive automotive sector. Training programs focusing on auto sales strategies, negotiating skills, and customer relationship management will be crucial to replicating such success on dealer lots. A Vision for the Future Looking ahead, Leasys plans to further strengthen its market position while enhancing customer experience through continued investment in innovative solutions. The company's roadmap includes reaching a managed fleet target of 1 million vehicles by 2026, further supporting its commitment to both expanded service offerings and sustainable mobility. The emphasis on eco-friendly practices positions Leasys at the forefront of a critical shift in consumer preferences and regulatory landscapes. As the automotive industry adapts to the rise of electrification and digitalization, understanding these trends is paramount for dealerships seeking to capitalize on new customer demands. Emphasizing training on evolving sales techniques and new technologies will equip sales teams to meet these challenges head-on. In conclusion, the exemplary performance of Leasys in 2024 serves as an insightful case study for dealership owners. By adopting their proactive approaches to growth, efficiency, and customer engagement, dealers can refine their operations and enhance their sales strategies, securing meaningful results in their own markets.