Kia Motors (UK) Limited has signed a new contract with its partner company Kia Finance to provide long-term financial security for its dealer network and to continue to provide a high level of service and products for its ever-growing number of customers.
Kia Finance, a part of Lloyds TSB Asset Finance Division has been the brand’s official finance company ever since the importer became a wholly owned subsidiary of Kia Motors Europe in August 2002, and was successful in retaining the business through a competitive tender process.
The new contract ensures continuity of service to the importer and its dealers and a member of Kia Finance staff is now based at the Weybridge, Surrey head office. Both companies see the new contract as an opportunity to develop exciting and new initiatives.
As Kia looks toward 2005 sales of 45,000 units the new contract will enable the provision of up to £100 million-worth of business support for dealers and will also allow the introduction of new services and products for buyers of Kia cars.
Paul Williams, Managing Director of Kia Motors (UK) Limited said: "Well thought out financial support packages and innovative and modern financial services are essential in today’s highly competitive new car market. Dealers need to have access to quick decisions about the support they need to run profitable businesses - especially when margins are constantly under pressure.
"Kia Finance has been our supportive partner through the last two and a half years of dramatic, record-breaking growth and we are delighted they are going to be with us as we continually seek to push the barriers even further and set new records in the UK car market."
David Brown, Managing Director of Kia Finance added: "We want to play a central role in helping Kia and its dealers achieve its franchise objectives and this rejuvenated partnership will allow us to explore every avenue for success."
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