FADA Academy to up-skill and upgrade auto dealers segment, thereby helping institutionalize the sector.
To up skill 500+ dealer principles and 3000+ teams
Training sessions for dealer Principles, CEO’s, Service Leaders, Finance Leaders and Sales leaders
Classroom, online and blended learning sessions in multiple formats
Mumbai, June 11, 2018: YES BANK, India’s fourth largest private sector Bank, signed a Memorandum of Understanding (MoU) with the Federation of Automobile Dealers Associations (F A D A), the apex national body representing Automobile Retail Industry in India, to launch ‘FADA Academy’.
F A D A Academy will prepare current and future dealer leadership to build front-end and back-end processes, improve customer and technical operations and enhance financial results of each department in the dealership.
The Academy will also work towards providing world class training and development programs for Dealer Principles, CEO’s, Service Leaders, Finance Leaders and Sales Leaders. The course coverage will be across a spectrum of topics such as finance, strategy, customer experience, digital and innovation, process management techniques etc., which would benefit the auto retailers and their teams to manage their business more efficiently.
The auto retail industry has conventionally been a family managed business, with families running these businesses for almost three to four decades, in case of some of the large dealerships. In such businesses, the first generation’s inclination towards adapting to new technologies is low as opposed to the second and third generation who are B-school graduates but may have a knowledge gap in terms of KPI. This unique knowledge-based partnership aims to address skill gaps to make Auto Retailers in India globally competitive by making the industry technically sound, thereby helping institutionalize the sector. In the first year, the academy aims to up skill 500+ dealer principles and 3000+ teams on various technical and management programs.
In order to make it more comprehensive, various formats like workshops, certification courses, and management development programs would be included in the courses to be imparted through classroom, online and blended learning sessions through FADA Academy.
Speaking about the partnership, John K Paul, President, F A D A said “F A D A Academy aims to evolve into a mechanism for constant learning amongst the fraternity. When disruptions become inevitable, ignorance can prove to be fatal. Through this academy we would not only provide a platform for acquiring knowledge but also encourage to think creatively and adapt to change.”
Commenting on the development, Rajan Pental, Group President and Group Head - Branch and Retail Banking, YES BANK, said, “We are pleased to power the FADA Academy towards up-skilling, re-skilling and preparing the current and future dealer leaders to build front-end and back-end processes, improve customer engagement and operations, thereby helping improve profitability. The curriculum has been designed to cater to up-skill and upgrade the auto dealers segment.”
ABOUT FEDERATION OF AUTOMOBILE DEALERS ASSOCIATIONS (F A D A)
F A D A is the apex body of Automobile Retail Industry in India. Founded in 1956, it is engaged in the sale, service and spares of Two and Three Wheelers, Passengers Cars and Utility Vehicles, Commercial Vehicles (including buses and trucks) and Tractors.
F A D A represents over 15,000 automobile dealers having 25,000 dealerships including 26 Associations of Automobile Dealers at the Regional, State and City levels accounting for 90 per cent of market share in India. Together we employ over ~5 million people in the country (including Direct and Indirect employment) at dealerships and service centres.
About YES BANK
YES BANK, India’s fourth largest private sector bank is a high quality, customer centric and service driven Bank. Since inception in 2004, YES BANK has grown into a ‘Full Service Commercial Bank’ providing a complete range of products, services and technology driven digital offerings, catering to corporate, MSME & retail customers. YES BANK operates its Investment banking, Merchant banking & Brokerage businesses through YES SECURITIES and its Mutual Fund business through YES Asset Management (India) Limited, both wholly owned subsidiaries of the Bank. Headquartered in Mumbai, it has a pan-India presence across all 29 states and 7 Union Territories in India including an IBU at GIFT City, and a Representative Office in Abu Dhabi.
For more information, please visit the Bank’s website at http://www.yesbank.in/
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