New Delhi, BHARAT, April 15, 2024 – The Federation of Automobile Dealers Associations (FADA), India’s premier association representing the interests of automobile retail, in collaboration with PremonAsia, a leading consumer-insight consulting firm from Singapore, today announced the initiation of a landmark Dealer Satisfaction Study focusing on Finance and Insurance sectors.
This innovative study aims to shed light on the dynamics between automobile dealerships and finance & insurance companies, marking a significant step forward in understanding and enhancing these crucial industry relationships. FADA President, Manish Raj Singhania, highlighted the study’s objective to establish a benchmark for dealer satisfaction, emphasizing its role in addressing challenges faced by auto dealerships in collaboration with finance and insurance sectors.
The study, hailed as a first-of-its-kind initiative, seeks to examine various facets of dealer relationships with finance and insurance entities, focusing on service quality, ease of access to financial products, and the efficiency of claims processing, among other aspects. It aims to identify and celebrate the best performing finance & insurance companies across different segments of the automotive industry, including mass and luxury vehicles across two-wheelers, four-wheelers, three-wheelers, and commercial vehicles.
Amar Jatin Sheth, FADA Treasurer and Director of the Dealer Satisfaction Study (DSS) for Finance & Insurance, emphasized the study’s potential to foster improvements in service delivery to end consumers by highlighting areas of concern and facilitating better cooperation between dealers and finance & insurance companies.
PremonAsia’s Director and COO, Rahul Sharma, expressed optimism about the study’s impact on improving the overall quality of services provided to end consumers, thereby enhancing the efficiency and effectiveness of the automotive retail ecosystem.
Scheduled to culminate in an awards ceremony at the Annual FADA Insurance and Finance Summit on June 14, 2024, at Hotel Sahara Star, Mumbai, the study promises to offer invaluable insights into the dealer-F&I company dynamics. It aims to set a precedent for future endeavors in this direction, further aligning the interests of dealerships with those of finance and insurance providers for the betterment of the automotive industry at large.
With invitations extended to all automotive dealerships to participate in this survey, FADA anticipates broad-based involvement that will enrich the findings and recommendations of the study. The detailed questionnaire, developed in consultation with industry experts and tested across various segments, is available online until the end of May, with the study’s results eagerly awaited at the June summit.
