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A study by Finaccord, a financial market research group, concludes that during times when car sales flatten out, additional goods and services can determine the profitability of a dealership. Some of these additional goods and services include:
- Extended warranties
- Automobile Service Contracts
- Gap Insurance Coverage
- Creditor Insurance
- Roadside Assistance
The study concludes that warranties, insurance and service contracts are particularly valuable because these renewable multiyear policies bring profits into the current year with no sales efforts on the part of the dealership. Added value is the key to quality customer retention programs.
EFG Companies has 34 years of experience in understanding and predicting consumer behavior. Calling upon its full portfolio of additional products and services, they will help you create a winning situation for your automotive customer retention programs.