BRP's Financial Services Platform Seen Bolstering Dealer Profit
Dow Jones
Aug 19
1123 ET - Ski-Doo and Sea-Doo maker BRP's new branded financial services offering could be good for dealer and company earnings, says Stifel's Martin Landry. "This new program should provide end-customers with a more seamless financing solution, fast approval and dedicated support," the analyst says in a report, adding that the program should also allow BRP to collect more data on its end-customers, strengthening communications and potentially developing lasting relationships with them. For dealers, he says that the product could also increase their earnings, "as in some instances, financing and insurance can represent up to a third of dealers' profitability." BRP says that up to 70% of all transactions are financed "making this an important factor in purchasing decisions."
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