FINANCE & INSURANCE TARGET MARKET STATEMENT (A "Consumer Duty" Requirement of the Financial Conduct Authority)
The Platinum Motor Group predominantly serves "retail" (i.e. private) individuals that makes up the majority of its’ customer base across all departments. In addition, the company also serves local and regional businesses in terms of cars and light commercials for their business use. Across the Aftersales departments of Service and Parts, the company serves a mixture of private individuals, local businesses, fleets and other dealerships, garages and bodyshops across the South and West.
In terms of new vehicles, our "target markets" are aligned with the manufacturer target markets for individual models and editions, and as such, we tend to promote the finance offers that are advertised nationally by each brand, but confine them to a local and regional level.
In terms of used vehicles, the "target markets" for whatever stock we may carry at any given time will vary depending on the product, and customers will sometimes be prepared to travel some distance for a specific used vehicle that fits their requirements in terms of specification, colour, age, condition and price. It is however, most commonplace for customers of our used vehicles to originate from our locality and region.
Overall, in terms of both new and used vehicles in the context of Finance and Insurance sales, the Directors and Management regularly review the offers that are promoted to ensure that good outcomes for customers are at the forefront of our way of going to market at all times in terms of our Consumer Duty responsibility, and that the needs of any vulnerable customers that choose to enquire with us and do business with us are carefully considered in terms of ensuring a good outcome each and every time.