DALLAS, TX (June 18, 2019) EFG Companies, the innovator behind the award-winning Hyundai Assurance program, today announced the launch of the company’s new pre-paid Maintenance Value Program (MVP), designed to boost customer retention with a fully-customizable program to fit individual dealership needs. For more information, visit http://bit.ly/2F6IV2D.
According to the National Association of Automotive Dealers, 83 percent of customers who perform maintenance with the selling dealer will return to purchase another vehicle. However, for decades dealers have struggled on the customer retention front. The Cox Automotive 2018 Service Industry Study states that dealerships only represent 33% of the share of consumer service visits.
“We originally developed MVP to provide a solution for the customer retention puzzle,” said John Pappanastos, President & CEO, EFG Companies. “As customer and vehicular needs have changed, we’ve morphed MVP to be even more compelling with customizable options. Dealers utilizing MVP now have a better opportunity to turn one-time only vehicle purchase events into an ongoing relationship through the service drive.” Continue reading