Category: Featured

Be An ‘Early Mover’ in EVs

Post author By efgmarketing
Post date March 24, 2023

According to a J.D. Power Customer Service Satisfaction survey released this month, customer service satisfaction among owners of BEVs is 42 points lower than for owners of internal combustion engine (ICE) vehicles. The two leading factors are recall rates for BEV parts and poor service advisor knowledge.

“As the electric vehicle segment grows, service is going to be a ‘make or break’ part of the ownership experience,” said Chris Sutton, Vice President of automotive retail at J.D. Power. “The industry has been hyper-focused on launches and now these customers are bringing their electric vehicles in for maintenance and repairs. As training programs for service advisors and technicians evolve, EV service quality and customer experience must address both the vehicle and the unique customer needs. The EV segment has the potential to spur massive convenience improvements in how customers service their vehicles—but we’re not seeing the benefits yet.”

While you can’t solve the recall issue, you can address the knowledge issue when it comes to EVs – not just in the service department but throughout your entire dealership. There is no doubt that EVs are coming. Savvy dealer owners who are ‘early movers’ and embrace these new vehicles will reap significant benefits. But there are some factors to consider when adding EVs to the lot.

Tags BEV, EFG Companies, electric vehicle, EV, F&I Talk Outside the Box, Podcast

EFG Companies Featured Fixed Operations

In Fixed Ops, Coordination Counts

Post author By efgmarketing
Post date February 23, 2023

When was the last time you did a health check of your fixed operations (fixed ops) department? How is fixed ops affecting your CSI scores? Is the department helping or hurting your customer retention efforts?

According to Cox Automotive, fixed operations as a profit center is more important than ever in 2023. Dealers should see continued strong dynamics in the service lanes, with or without a recession, as owners try to hold onto their vehicles longer. While the average ticket size increased in 2022, revenue is not a guarantee. In order to be successful in fixed operations, all of the cogs must be coordinated – not only within each dealership’s service bays but across rooftops as well.

Savvy dealers take a holistic approach to fixed ops, sales and F&I with the understanding that each area of the dealership directly impacts overall dealership operations and the total customer experience. While each department might occupy a separate line item in the spreadsheet, failure to understand and capitalize on a coordinated customer service approach reduces efficiency, profitability and customer retention. Let’s look at a scenario where lack of coordination within the service department impacted the bottom line.

Tags Cox Automotive, Dealership Profit, EFG, EFG Companies, Fixed Operations, Fixed Ops, Repair Order Sales

EFG Companies Featured

EFG Companies Announces F&I Client Satisfaction Research, Auditor Performance Results

Post author By efgmarketing
Post date February 12, 2019

DALLAS, TX (February 12, 2019) EFG Companies, the innovator behind the award-winning, Hyundai Assurance program, today announced results from several independent firms’ research and auditing efforts. In EFG’s bi-annual Client Satisfaction Study fielded by national research firm Troubadour Research and Consulting, 99 percent of EFG’s dealer clients stated they would highly recommend EFG, resulting in a Net Promoter Score* higher than Nordstrom, Ritz Carlton, and Amazon. Additionally, BenchmarkPortal, a global leader in the customer service center industry, certified EFG Companies as a Center of Excellence for the fifth year in a row. Lastly, in its 2018 risk examination as the company’s backstop underwriter, Assurant, Inc. – a global provider of risk management products and services – recognized EFG’s efficiency in claims’ adjudication. For more information, visit http://bit.ly/2pdueVX.