95% of pre-owned motorcycle purchasers say a CPO program would impact where they buy their next motorcycle
DALLAS, TX – February 10, 2016 – (Motor Sports Newswire) – EFG Companies, the innovator behind the award-winning Hyundai Assurance program, today announced the launch of a Certified Pre-Owned Program designed specifically to grow powersports dealer business and drive loyalty through National Powersport Auctions (NPA), the number one provider of auction and remarketing services in the powersports industry. For more information on the Certified Pre-Owned program, visit http://bit.ly/1PD7ory.
Ninety-five percent of respondents in a recent third-party research survey said the availability of a program like this would impact their choice of dealer from which they would purchase their next pre-owned motorcycle. In addition, 56 percent said they would drive more than 30 miles to purchase a motorcycle covered by a CPO program.
EFG’s CPO program provides consumers with complimentary limited powertrain protection on name-brand pre-owned motorcycles. As an added benefit, motorcycles purchased by dealers from NPA with an overall NPA Condition Report score of 75 or higher will automatically be eligible for the program (brand, year, mileage, engine, transmission and frame score limits apply). These advantages will meet an expressed customer need, while driving potential revenue and buyer traffic for dealers.
How It Works
Dealers purchasing a CPO-eligible motorcycle from NPA can simply opt-in to EFG’s CPO program to retail the motorcycle as Certified Pre-Owned. As a result, dealers will have the opportunity to market used inventory with quality CPO motorcycles, of which 63 percent of survey respondents place a higher dollar value between $500 and $1000.
“This CPO program supports powersports dealers’ dedication to providing their pre-owned motorcycle customers a value-driven customer experience, which is necessary for growth and profitability,” said Jim Woodruff, chief operating officer of NPA. “This new program reflects NPA’s mission to better support dealers by offering the easiest, most cost-effective way to build and manage pre-owned vehicle inventory that sells.”
“As the powersports market continues to recover, we know dealerships need showroom traffic now,” said Glenice Wilder, vice president of powersports, EFG Companies. “Our CPO program provides dealerships with an immediate means of capturing market share based on current consumer drivers. We are motivating customers to make a purchase based on value that they can only get with a strong CPO program, and our relationship with NPA makes it easy for dealers.”
When a dealer opts in to EFG’s CPO program, they will have the opportunity to upsell to a full vehicle service contract. This covers the cost of the CPO program for the dealer entirely, and gives them another opportunity to generate higher F&I profit.
About EFG Companies
EFG Companies combines almost 40 years of experience serving as an industry innovator of consumer and vehicle protection programs with the company’s commitment to raising the industry bar in providing superior client engagement. With their field and administrative teams AFIP and ASE certified, EFG’s professionals provide world-class product development and administration, go-to-market strategies, training and auditing support across a multitude of channels. www.efgcompanies.com
About National Powersports Auctions
Headquartered in Poway, California, National Powersport Auctions (NPA) is the industry leader for powersport auctions and remarketing services. Created 25 years ago by powersports professionals, NPA serves lenders and dealers throughout the nation. NPA has company owned and staffed facilities in San Diego, California; Dallas, Texas; Cincinnati, Ohio; and Atlanta, Georgia. www.npauctions.com