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Business Growth Powersports Market

Are You Primed To Capture Refund Sales?

Glenice Wilder Vice President EFG Companies
Contributing Author:
Glenice Wilder
Vice President
EFG Companies

For many of us, the April 15 tax filing deadline looms large whether we have to pay or we expect a refund. This time of year, powersports dealers have a promising opportunity to significantly increase sales volume.

  • According to the Conference Board, the Consumer Confidence Index® increased in February and remains at a 15-year high.
  • A recent report by Bloomberg on the Consumer Comfort Index, respondents viewed the buying climate as the most favorable in nearly 15 years.

But consumer confidence does not automatically translate into a spending spree. According to Princeton Research Survey Associates, 46 percent of Americans plan to receive a tax refund this year. But only 26 percent plan to spend the refund on a purchase. Now is the time for smart powersports dealers to fine tune their marketing to capitalize on this spending window.

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Categories
Business Growth

Meeting in the Middle – Part 3

Glenice Wilder Vice President EFG Companies
Contributing Author:
Glenice Wilder
Vice President
EFG Companies

While the presidential election is over, the business climate remains murky. I have spoken to numerous powersports dealers and lenders over the past two months and the “wait and see” attitude remains. While some see lots of positives on the horizon in terms of fewer regulations, others voice concerns about rumors of rising interest rates and tighter credit. While we cannot directly impact government action, we do have control over how we conduct our own business.

As we have discussed in the past two columns, there are some shared challenges faced by powersports lenders and dealers when working with their counterparts that truly impact the powersports industry.  The good news is – we can address these challenges by meeting in the middle to build productive and financially beneficial relationships, for both lenders and dealers in the powersports market.

As we step carefully into 2017, let’s make the commitment to communicate more frequently, listen more intently and improve where we can. Regardless of which side of the fence you’re on, let’s see how both dealers and lenders can meet in the middle.

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Uncategorized

EFG Companies Launches 1,000,000 Mile Limited Powertrain Protection

Cultivating Consumer Confidence to Increase Motorcycle Sales

Million Mile Limited Powertrain ProtectionEFG Companies, the innovator behind the award-winning Hyundai Assurance program, announced today the launch of a 1,000,000 Mile Limited Powertrain Protection program for motorcycles. This program is designed to foster increased customer loyalty, referrals, and unit sales by addressing pressing motorcycle consumer needs.

While the powersports industry is currently experiencing a period of year-over-year growth, everyone in the industry has an eye on the horizon for the next economic downturn. Dealers are looking to maximize sales while they last and fortify their operations for the future.

“Today’s customers are already in the mindset of being very careful with where they spend their money, and are looking for the best value for the dollar. This has resulted in an enhanced pre-owned bike market over the last few years,” said Glenice Wilder, the vice president of EFG Companies Powersports Division. “By offering 1,000,000 Mile Limited Powertrain Protection, motorcycle dealers have the ability to differentiate their operations, and increase customer loyalty and new customer sales, by providing customers complimentary protection for their bikes.”

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