August 13, 2018
German auto brand Mercedes-Benz has been ranked the number one luxury auto brand for financing among dealers, according to J.D. Power.
The new study looked at a number of auto brands in terms of how satisfied the dealers who worked with them were with their financing options. For the fourth year in a row, Mercedes-Benz has been named the number one brand in this capacity.
"We are very appreciative of the dealers who took the time to complete and submit this year's survey and are grateful for their vote of confidence and support," said Geoff Robinson, vice president of Mercedes-Benz Financial Services, in a statement. "It is a privilege to work with a dealer body that is delivering the 'Best or Nothing' to their customers and we are flattered that they consider us the benchmark among luxury captive retail credit providers.
"Our commitment is always to listen to feedback from our dealer partners and use it to identify where we can continue to improve in our quest to deliver exceptional experiences to them and our mutual customers every day," he said.
J.D. Power reached to more than 4,000 dealerships across the country during the months of April and May this year for its study.
In its survey, J.D. Power asked these dealers to rank auto brands based on their satisfaction with the financing options afforded by the brands. These financing options include wholesale financing for dealerships and retail services provided by the brand.
On a 1,000-point scale, Mercedes-Benz scored a 976, making it the number one brand for the fourth year in a row.
Mercedes-Benz scored a 976 in the report. Image credit: Mercedes-Benz
Mercedes-Benz has invested heavily in the retail process of purchasing one of its cars. For example, Mercedes-Benz took an immersive experience to Chicago to get closer to customers who are in the discovery phase of their car shopping journey.
Mercedes is hoped to bring in window shoppers looking for vehicles who often begin their searches online with an experiential retail space. The pop-up arrived in Chicago after successful runs in previous cities (see story).
"These rankings could not be achieved without the efforts of everyone at Mercedes-Benz Financial Services to provide the best experiences possible at each interaction with dealers, customers, brand partners and each other," Mr. Robinson said. "It is their passion and dedication that helps cultivate our continued success.
"While we are proud of these results, the scores demonstrate what we already know: Our industry never stands still, and so we must seek opportunities for continuous improvement, strive to deliver the highest levels of service and convey excellence in everything we do," he said.