Standard Bank Auto Show not deterred by challenging economic climate

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Photo: Contributed Working together… Standard Bank executives pose with the Biltong Fees organisers and automobile dealers in marking the launch of the Bank’s 2017 Auto Show.

Staff Reporter

Windhoek-It’s all systems go, for the 2017 Standard Bank Auto Show slated for June 30 and the July 1. The auto show, which is said to be bigger and better this year, will be held at the SKW Sport Fields in Windhoek. Standard Bank is hosting the Auto Show together with the ‘Biltong Fees’, which has been a partner since 2011.

“Although we find ourselves in a challenging economic environment this year, with new vehicle sales declining by N$300 million in the first quarter of 2017, our decline is still less than that of some of our competitors. We can only survive in this tough market with solid partnerships like those we have forged with each one of you (automotive industry representatives and dealers),” Standard Bank’s head of vehicle and asset finance (VAF), Wim Lotter, said at the launch, further urging dealers to continue collaborating with the bank for the auto show.

Standard Bank’s head of personal and business banking, Mercia Geises, concurred with Lotter, adding that the auto show would aid in driving the dealers’ sales.

“We take full cognisance of the fact that the current hard economic time has affected all sectors in our country and the vehicle industry is no exception. We would like to provide you with the opportunity to drive your sales during these tough times by continuing to host the much anticipated auto show,” she said.

Geises also commended the dealers for the impeccable relationship they have cemented with the bank, noting that it has manifested itself through increased market share in the industry, with 57 percent of new business last year for the bank owing to that.

Since its inception in 2006, the auto show has gone from having 2,500 revellers visit it for a one-day event, to over 20,000 revellers visit it last year for a two-day event. Over 30 dealers are expected to participate in the auto show this year as well. This makes the Standard Bank Auto Show has become an important event on the motoring calendar.

“Based on last year’s success of the Standard Bank Auto Show with a total turn-over N$120 million, I am optimistic that this year’s Auto Show will exceed all expectations. We are offering up to prime less 1.75 percent on the interest rate, residual value offering of up to 25 percent and an annual insurance offering with one-month holiday on credit life offering.

Visitors can also look forward to entertainment by leading Namibian and South African artists, entertainment for the children and for the first time in Namibia, motorbike freestyle by World Champion Libor Podmol,” Geises said.

Visitors to the Auto Show can have pre-approval the week before or can bring all required documents to the Auto Show as the bank’s full team will be on site for approval.

Also speaking at the launch, Dominee Frans Ras, the brain behind the Biltong Fees which started in his church hall in 1992, said the Biltong Fees has grown exponentially over the years, making profits between N$20 million and N$30 million last year, excluding that the bank made.

“This is a considerable amount that we invested back into Windhoek; as such we should use the current economic challenges to inspire us to work even harder for the success of the Biltong Fees and Standard Bank Auto Show. Inspite of the challenges we are facing, we will one day look back at our 2017 event and smile because it was a success,” he stressed.

The Standard Bank Auto Show not only gives automotive industry representatives and dealers an opportunity to showcase their latest car models, but also gives prospective buyers the chance to test latest vehicles on the market, all the while jumping the queue to get pre-approval for their dream car at affordable financing rates.

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