Category: EFG Companies

EFG Launches MAP® Electric Vehicle Protection Exclusively for EV Customers

Post author By efgmarketing
Post date August 15, 2019

DALLAS, TX (August 13, 2019) EFG Companies, the innovator behind the award-winning Hyundai Assurance program, today announced the launch of the new Motorist Assistance Plan (MAP^®) Electric Vehicle Protection. This new exclusionary vehicle service contract is designed to meet the unique needs of EV owners and help dealers diversify their revenue streams through both the F&I office and the service drive. For more information, visit http://bit.ly/2YX1226.

MAP Electric Vehicle Protection provides coverage for all assemblies and parts, the manufacturer-installed battery, and electric vehicle motor(s), except for a specific list of parts that are excluded. It also provides roadside assistance, rental reimbursement, and trip interruption benefits.

Tags Edison Electric Institute, EFG, EFG Companies, electric vehicles, Eric Fifield, EV, J.P. Morgan, John Pappanastos

EFG Companies

Give Your Customer Retention a Boost with MVP

Post author By efgmarketing
Post date July 24, 2019

Contributing Author:
Eric Fifield
Chief Sales Officer
EFG Companies

If customer retention was ever a buzzword, it is this year! Everyone in the automotive industry is talking about it. But, what are we doing about it? The challenging thing about customer retention in the retail automotive business is the amount of time between purchases and the lack of frequent interaction with the customer during that time. Of course, the answer lies in the service drive, so how are we as an industry thinking about it differently than in years past?

Leaving Money on the Table

Let’s look at retention in terms of customer engagement between vehicle sales. According to research from the National Association of Automotive Dealers, 83% of customers who perform maintenance with the selling dealer are more likely to return to purchase another vehicle. However, the Cox Automotive 2018 Service Industry Study states that dealerships only represent 33% of the share of consumer service visits. Literally, dealerships are getting only a third of the customer’s business for maintenance. Not only are you losing the opportunity to engage with your customer – you’re losing service drive revenue!

Tags Cox Automotive, customer retention, EFG, EFG MVP, Eric Fifield, NADA, National Auto Dealers Association

EFG Companies

EFG Launches Customizable Maintenance Plan to Boost Customer Retention

Post author By efgmarketing
Post date June 18, 2019

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.”