- Pictured above are Duncan Chumley, CEO, Mycardirect; David Murray-Hundley, chairman AAM Group; and Colin Mather, COO AAM Group
THE car subscription business, Mycardirect, is planning to expand its broker footprint with an additional two leasing brokers added to its pilot programme.
There are now five brokers trialling the broker subscription portal, before it launches fully next year.
The broker referral relationship is going well. At first I thought we’d just get stop gap customers as a result of the ongoing car delivery delays. But what we’re finding is that we’re getting contract hire customers who are holding off decisions. For brokers, the system is helping them close customers, which is great for us. So we're developing systems that will work well with brokers.
The development of the broker portal comes as Mycardirect reports profitability after just 18 months of operation and ahead of schedule, says Duncan.
Part of the AAM Group, along with Onwrd and its own broker BestCarFInder, Mycardirect helped total sales increase by 46% to £23m in the 12 months to June 2022.
Duncan said subscription’s success was down to a combination of factors:
Unstable economic factors and the development of EVs have accelerated our growth. We’ve certainly benefited from lack of supply because it’s made people look elsewhere and they’ve discovered subscriptions.
AAM Group chairman, David Murray-Hundley, added that the company was considering opportunities for a round of funding to help it expand its operations, which included the US, but additional funds weren’t a requirement.
“Our focus next is organic growth, digitisation and the customer experience across our three brands,” he added
David added the Group had a 3000 vehicle fleet, which was 65% focused on the corporate sector.
Mycardirect supported the most recent Broker News dinner at the Dakota Hotel in Manchester.
Broker News Newsletter 30 April 2024
Catch up on the latest leasing broker news in the 30 April 2024 Broker News newsletter
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Ralph Morton is the leading journalist in the leasing broker sector and editor of Broker News, the website which provides information and news for BVRLA-registered leasing brokers. He also writes extensively on the fleet and leasing market in both the UK and Europe.
