There was a time when the automotive leasing business was primarily one for fleet, commercial and business professional use primarily. Portfolios of typically short term leases were managed with little risk and were just a small component of the bigger picture – automotive sales in America.
Then the consumer was introduced to the benefits of leasing and the appeal was overwhelming, especially in the high-line European models. The economy and the marketplace were on fire with sales reaching over 17 million units in the US alone. The business practices of those funding sources who were determined to cash in became more and more risky and the tolerance of what may ensue was set aside for more and more new business growth.
Everyone was happy until, the market and the economy began to falter and the potential damages were becoming all too clear as almost all of the indirect sources fell to the wayside as impending losses swelled. For those not in the car business as a mainstream business were running in fear of how were they going to handle such a calamity?
The progress in restructuring of individuals, the teams, and the organization was secretly being rehabilitated, the greedy had been expelled and all evidence of their foul play and reckless abandon though carefully hidden had now been secured. But, what to do until the dust settled…
The challenge and the intent of all those involved today was more than to merely survive, but to again flourish and reign in the midst of a new conviction. The prize was to not only succeed, but to recover brilliantly, showing all those naysayers and the doubters that we were indeed far stronger and more resilient than anyone had acknowledged. The two and three year lease terminations added much needed pre-owned models into the marketplace and they bolstered the certified used vehicle markets as well.
“I don’t know the key to success, but the key to failure is trying to please everyone.” ~ Bill Cosby
This was a progressive evolution, a new direction with foresight in the complete overhaul that was much needed. The success of a business unit, a return profits via a lean, intelligent operation was being instituted worldwide. A burgeoning confidence was reflected in our attitudes and a more logical and cohesive attainment of goals became clear to all, our reputation was on the line, if not our future.
Exceptional progress via logical, progressive analysis were rebuilding risk averse, value based business practices. New teams, new products, new direction and a much more logical view of making a great system work well again are now in place.
“I learned this, at least, by my experiment: that if one advances confidently in the direction of his dreams, and endeavors to live the life which he has imagined, he will meet with a success unexpected in common hours.” ~ Henry David Thoreau