Several key executives from some of the nation’s largest powersports finance providers have joined the roster of speakers at the inaugural PowerSports Finance 2016.
PowerSports Finance 2016, tomorrow, Oct. 5, will offer industry professionals a dedicated full-length forum to share insights, best practices, and practical intelligence on matters of import to lenders of motorcycles, jet-skis, RVs, and other specialty vehicles.
A trio of executives will participate in a “Voice of the OEM” panel discussion about OEM operations and wholesale finance. Topics include what makes a good finance partner, how OEMs respond to increase market competition, the challenges and opportunities in wholesale finance, and ways OEMs can add additional value to their dealers. The panelists are:
- Steven Chavez, Sr. Manager of Credit Services, Kawasaki Motors Finance Corp.
- Tom Etherington, Vice President of Sales, KTM North America
- Paul Puma, Executive Vice President and Managing Director, Wells Fargo Commercial Distribution Finance
Wells Fargo CDF is “working diligently” to offer more value than just traditional floorplan financing for new-vehicles, Puma told Powersports Finance. “We are working diligently with the OEM’s to design pre-owned finance programs to help increase dealer margins and incremental sales.”
The way many OEMs sell their products has changed overtime, due – in part – to production needs, consumer demand, and selling season, Chavez told Powersports Finance, and there are ways the OEM can add additional value to the dealers, particularly as consumer demand ticks up and production needs change.
For example, some OEMs in the auto space facilitate dealer 20 groups through NADA — something not offered by NADA in the powersports space — which helps dealers learn best practices from non-competing dealers “in the hopes of improving dealer profitability and OEM sales,” he said. “The wholesale finance company also benefits with a by-product of improved wholesale performance, since the dealers become better managed.”