DF Capital supports the Harris Group as it moves into environmentally friendly LCVs
In a bid to make fleet and vehicle purchasing as affordable as possible for customers, The Harris Group partnered with DF Capital to create a funding solution for its dealer network, providing a financial ‘supply chain’ link between the distributor and dealer, ensuring a seamless process.
The Harris Group
The Harris Group is a leading importer and distributor of commercial vehicles for the construction, distribution and mass transportation industries. Founded in 1961, it has a firm focus on technological innovation and the next generation of clean, sustainable motoring. As the sole distributor for the MAXUS range of vehicles in the UK and right-hand drive markets in Europe – both diesel and electric models – Harris Group delivers a significant number of vehicles every week to an extensive network of dealers. The launch of the eDeliver 9 and eDeliver 3, electric commercial vehicles has heightened its status as a market leader.
What did The Harris Group need?
The business, which is set to grow by over 200% in 2021, is recognised as one of the UK and Ireland’s foremost distributors of commercial vehicles. Harris’ reputation for greener motoring, in particular, has strengthened in recent years as it leads the charge in the electric vehicle sector. In a bid to make fleet and vehicle purchasing as affordable as possible for customers, The Harris Group partnered with DF Capital to create a funding solution for its dealer network, providing a financial ‘supply chain’ link between the distributor and dealer, ensuring a seamless process.
How did DF Capital help?
DF Capital structured an inventory finance solution that supports the supply chain and funds the dealer network on delivery of the vehicles. The dealers then pay DF Capital when the assets are sold. This enables Harris Maxus to take orders knowing they will be paid immediately, easing cashflow and managing the financial risk. Equally the dealers also know that funding is guaranteed to them. All aspects are dealt with seamlessly and professionally, ensuring confidence across the supply chain.
Results
Over the past year, DF Capital has provided significant facilities to the Maxus Dealer Network operated by the Harris Group, enabling the business to grow further and get its industry-leading fleet of electric vans out to a larger audience.
What do our customers say?
Harris MAXUS said: “DF Capital is the exclusive supply chain funder for MAXUS assets – both diesel and electric – across our dealer network. The DF Capital team worked tirelessly to ensure dealers’ needs are understood and met. This is particularly important at a time when all eyes are on cashflow and there is a need to manage risk and monitor our capital outlay. DF Capital approaches business differently to other finance companies offering a more hands-on approach. Harris MAXUS and DF Capital have created a strong relationship, built on trust and support.”
