The company’s new finance program is intended to boost boat and engine sales at both the wholesale and retail level
The Yamaha Motor Company announced last week that Yamaha Motor Finance France SAS (YMFF) is now open for business in the French market. The organization was established in December 2018 and is a subsidiary company of Yamaha Motor Europe (YME) and will provide financial services such as credit, leasing, insurance etc., in the form of both wholesale and retail finance to marine dealers in France.
Yamaha claims a high market share in the French market, which it considers one of the most important in Europe. By establishing a sales finance facility, the company intends to provide an attractive financing program and other services which create an environment where customers can purchase outboard engines and boats more easily and therefore further expand its future sales. Yamaha’s motorcycle dealers will also be benefiting from this new financing facility.
During its former medium-term management plan (2016 - 2018), which was designed to bolster its business operations, Yamaha introduced financial services businesses in the United States, Canada, Australia, New Zealand, Brazil and Mexico, with an overall loan balance burgeoning to ¥300 billion. In its new medium-term management plan announced in December 2018, the financial services business is considered a key strategy to strengthen connections with customers and secure a more stable income. Following the launch of its new business in France the company hopes to expand to other regional and business areas, and is working toward a goal of ¥450 billion in finance-based packages by the end of 2021.