EFG Companies: From Inventory Turn to Income Earned

DALLAS--(BUSINESS WIRE)--EFG Companies has expanded its Protect Your Ride^® and xtreme^® portfolio of powersports protection products, designed to boost dealer revenue growth while extending the life of on- and off-road motorcycles, ATVs, and UTVs. These enhanced service contracts are critical tools designed to drive more dealer profit while increasing customer loyalty and differentiating the dealership. The company encourages powersports dealers to capitalize on strong consumer demand and available inventory with these back-end margin generators that increase PRU and wealth generation. For more information, visit https://bit.ly/489P8c5.

"Powersports dealers can solve all of their vehicle service contract needs for both new and used units -while boosting revenue growth - with one expanded portfolio."

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According to a Lightspeed DMS survey of more than 1,800 powersports dealers, major unit sales were up a combined 10 percent in August, a month earlier than the historically strong fall sales season. All U.S. regions reflected the positive sales trend, with the Northwest and Northeast taking the lead. In addition, service department revenue improved in all regions, reflecting consumers’ desire to take their vehicles out on the road and trail.

“We are enhancing our protection and eligibility offerings, allowing powersports dealers to solve all of their vehicle service contract needs for both new and used units in one expanded portfolio,” said Adam Ouart, Senior Vice President, Agency Services and Powersports, EFG Companies. “We want dealers to offer their customers the best possible coverage, extending the life of their units, supporting their financial needs, and strengthening their dealership relationship.”

Expanding coverage, eligibility, exclusions, and terms for on-road motorcycles

EFG’s Protect Your Ride Bike Protection maximizes the length of coverage available to your customers, as it begins when the manufacturer’s warranty ends for new units, and for used units, begins either when the manufacturer warranty ends or on the purchase date if the manufacturer warranty has already expired. It covers pre-owned bikes up to 20 years old and new bikes up to 5 years old. Bike Protection can reduce the owner’s cost of repairs and extend the life of the vehicle.

“Because powersports vehicles are designed to withstand rigorous use and often have longer lifespans, owners keep their motorcycles and off-road vehicles longer than their personal vehicles,” added Ouart. “In addition to these coverage enhancements, we also deliver best-in-class roadside assistance. EFG Companies is committed to our dealers and their customers at every turn.”

Meeting the unique needs of off-road motorcycle, ATV, and UTV owners

Whether it’s a week-long vacation or weekend excursion, nothing is more disappointing than a dead or broken-down off-road bike. ATV, or UTV vehicle. EFG’s extended xtreme Protection Plan provides options for new and used units that support the unit beyond the manufacturer’s warranty as well as offering the most cost-effective level of exclusionary coverage. It begins when the manufacturer’s warranty ends for new units, and for used units, begins either when the manufacturer’s warranty ends or on the purchase date if the manufacturer’s warranty has already expired. This industry-leading coverage empowers dealers to strengthen building customer loyalty and retention. It covers pre-owned off-road motorcycles, ATVs and UTVs up to 20 years old and new units up to 3 years old.

About EFG Companies

For nearly 50 years, EFG Companies has provided consumer protection programs for vehicles and residences across seven market channels. The company’s strategic intent is to build sustainable market differentiation and profitability for its clients and partners, including dealers, lenders, manufacturers, independent marketers, and agents. EFG’s award-winning engagement model is built upon the belief that the company serves as an extension of its clients’ management teams, providing ongoing F&I development, training, product development, compliance, and nationally recognized product administration with an ASE-certified claims team. Learn more about EFG at: www.efgcompanies.com.