12 • September 2024 • Powersports Business
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KMFC extends partnership with Solifi in Canada
Solifi , a global fintech software partner for secured finance , announced that Canadian Kawasaki Motors Finance Corporation ( CKMFC ) has successfully migrated its Canadian operations to Solifi Wholesale Finance , expanding its usage across North America .
This deployment follows KMFC U . S .’ implementation of the same solution in 2021 , which moved 1,700 dealers and 53,000 loans from a legacy mainframe system to a modern SaaS solution . CKMFC witnessed the success that the U . S . branch of the business achieved due to Solifi Wholesale Finance , which led to the adoption of the same platform and processes . By moving its operations in-house , Kawasaki can now better serve its dealers , strengthen relationships , and offer more competitive rates .
“ It has been an absolute pleasure to help KMFC expand its usage of Solifi Wholesale Finance across North America following the
favorable results of its U . S . implementation ,” says Bill Noel , chief product officer at Solifi . “ Our established relationship with KMFC meant we had a unique understanding of their business needs , implementing a solution that addresses key pain points and facilitates growth . We look forward to continuing to support KMFC ’ s expansion goals .”
The upgrade now provides full integration with CKMFC ’ s core enterprise resource planning ( ERP ) software with end-to-end visibility , upgraded order-processing procedures , new credit capabilities , and improved loan onboarding .
Octavio Villegas , director of KMFC , says ,“ We are pleased to have Solifi as a business partner and to be a key part of the expansion of our business . We look forward to servicing our Canadian dealers .”
CKMFC ’ s dealers can now access and manage their loans using a self-service web
CKMFC ’ s dealers can now access and manage their loans using a self-service web portal . Photo courtesy of Kawasaki Canada , Facebook
portal . This provides a better user experience and requires less manual processing , allowing the company to focus on growing
DEALER FINANCIAL SNAPSHOT its business . CKMFC ’ s confidence in Solifi ’ s product ultimately allows it to continue expanding its portfolios .
NORTHWEST -3.1 % Parts Department 2.7 % Service Department -7.9 % Major Units -6.3 % Overall
WEST -2.5 % Parts Department 0.1 % Service Department -9.4 % Major Units -7.7 % Overall
UNITED STATES -1.9 % Parts Department 3.5 % Service Department -4.7 % Major Units -3.6 % Overall
MIDWEST -2.0 % Parts Department 7.1 % Service Department -4.8 % Major Units -3.3 % Overall
SOUTH -0.9 % Parts Department 2.0 % Service Department -4.1 % Major Units -3.3 % Overall
NORTHEAST -1.8 % Parts Department 6.5 % Service Department 1.1 % Major Units 1.4 % Overall
JULY 2024 VS . JULY 2023 In July , dealers were down an average of 3.6 % in combined revenue according to composite data from more than 1,700 U . S . dealers that use the Lightspeed DMS . In the parts department , the average dealer was down 1.9 %, a signifi cant percentage compared to a decrease of 13.1 % in June . The Northwest was down 3.1 % in parts , followed by the West , down 2.5 %, and the Midwest , down 2.0 %. The South reported the least signifi cant dip in parts , down 0.9 % compared to the year ago month . Dealers were up an average of 3.5 % in the service |
department . The Midwest was up 7.1 % in service , followed by the North , up 6.5 %. Every region was up in the service department in July . In the sales department , dealers were down an average of 4.7 %. The West reported the biggest drop in sales , down 9.4 %. The Northeast was the only region to report an increase in sales revenue , up 1.1 %. The Northeast was also the only region to report an increase in combined revenue , up 1.4 %. The Midwest and South were down 3.3 % in combined revenue . The West , down 7.7 %, reported the biggest drop in combined revenue for July . |
PARTS SALES Parts sales revenue was up at 876 dealerships and down at 946 .
SERVICE SALES Service revenue was up at 979 dealerships and down at 829 .
MAJOR UNIT SALES A total of 743 dealerships were up and 919 were down .
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FOR MORE ON THE SAME STORE SALES DATA
For more information on this report and other industry data , contact : lightspeeddms . com
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