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Meeting in the Middle – Part 3

Post author By efgmarketing
Post date February 7, 2017

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

Post author By efgmarketing
Post date January 18, 2017

Cultivating Consumer Confidence to Increase Motorcycle Sales

EFG 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.”

Tags Chris McIntyre, EagleRider, EFG Companies, Glenice Wilder, Powersports Dealers

Powersports Market

Meeting in the Middle – Part 2

Post author By efgmarketing
Post date January 11, 2017

Contributing Author:
Glenice Wilder
Vice President
EFG Companies

In last month’s column, we introduced the topic of bolstering dealer relationships with lenders in the spirit of gaining more business for both parties, with a focus on lender challenges. This month, I’d like to focus on the dealer side of the desk.

So let’s consider the challenges facing dealers when working with their lender partners and steps dealers can take now to address those challenges. In February, I’ll talk in-depth about how both sides “meet in the middle” to build a productive and financially beneficial relationship for both lenders and dealers in the powersports market.

Change is here to stay

The powersports customer is changing. Today’s customer is younger, smarter, and faster. The millennial buyer has spent hours on the Internet researching the dealership, the bike, and often the financing options – before he or she ever sets foot in the showroom. Requiring labor-intensive paperwork and data entry won’t be tolerated by today’s customer. With this in mind, consider talking with your lender to evaluate how to work together to implement technology solutions that work on the dealership level. You’d be surprised how robust their technology can be.