Dennis De Roos, Commercial Director at Morgan, describes how a customised approach to finance allowed them to reach new audiences.
Dennis De Roos, Commercial Director, Morgan Motor Company
My name is Dennis de Roos. I’m the Commercial Director now for the Morgan Motor Company. We’ve been around for quite a long time. We make beautiful bespoke vehicles – handcrafted. I think customers buy a Morgan not necessarily for transport, it’s not really a vehicle you would say I need to go from A to B. You can of course but mostly it’s a decision that it‘s a reward to themselves. Our customers are also like part of the Morgan family. It’s not about selling a car; it’s almost about selling a lifestyle.
Part of the business review was looking how we can extend the offering to our customers and we saw an opportunity to potentially work with a finance company to offer bespoke products for our customers but also we were looking to extend our customer group, maybe to a younger audience or an audience whereby the threshold was just a little bit too high to afford a Morgan product.
I think that Morgan is not a company that works off the shelf as such. It is quite bespoke and we were looking for a bespoke offering for our customers on the finance side to help the business. We were very confident and very pleased to work together now with Close Brothers to offer something truly unique for our customers. The great thing about Close Brothers is that they also have a passion for Morgan and it was very easy to have the conversation with them to ascertain who our customers are and what they wanted exactly and then create a bespoke package which meets those needs.
I’ve already seen some very positive results, some really positive feedback from our customers. Being able to get into the product earlier on, changing to another model if they want to do so and it’s something new to Morgan, we haven’t done this in the past and although it’s early days, it’s very promising in terms of the opportunity for the future.