DALLAS, TX - EFG Companies, the innovator behind the award-winning Hyundai Assurance program, announced the launch of Certified Hide™, a motorcycle certified pre-owned (CPO) program that increases motorcycle unit sales by enhancing dealership pre-owned offerings.
Certified Hide gives dealerships a purchase-motivating tool to increase pre-owned motorcycle sales with a 106-point inspection, complimentary 30-day, 60-day, or 90-day unlimited mile options for limited powertrain coverage.
“Certified limited powertrain protection programs are common in the automotive realm, but are rare in the motorsports industry, said Chris Clovis, Vice-President of Sales for EagleRider. “The key is value -- offering consumers pre-owned motorcycles for thousands less than new, while still providing the protection and financing of a new bike. Our CPO program from EFG Companies eliminates the ‘Buyer Beware’ from a used bike purchase, replacing it with confidence and excitement.”
With the combined effect of American consumers still being wary of the economy, and motorcycle sales dependency on discretionary income, dealerships competing for increased unit sales need a significant value-add to incentivize consumers to make a motorcycle purchase with them. According to the latest report from the Motorcycle Industry Council, motorcycle sales rebounded in the second quarter of 2014, experiencing a 2.6 percent year-over-year increase. After a fairly stagnant first quarter, with sales down 0.2 percent, the industry welcomed the increased business and expects sales volumes to continue to rise.
“As recession-worn consumers return to motorcycle dealerships, we can expect pre-owned sales to increase as consumers look for less expensive options that they can maintain even in another economic downturn,” said Glenice Wilder, Vice President of EFG Motorsports. “For example, EagleRider, the world’s largest motorcycle travel company, used our motorcycle CPO program to demonstrate their commitment to their consumers and providing quality service, and have already seen a 19 percent increase in unit sales in the first 30 days since the program launched.”
According to EagleRider’s Finance Director, Gary Gullien, consumers find the program impressive and see the product as a reason to buy from EagleRider. “One of the customers I spoke with said the only reason he purchased from us was because the bike received a 106-point inspection and 30-day limited powertrain coverage.”
According to “FORBES”, while consumers are spending as their incomes rise, they are unwilling to borrow more money than absolutely necessary. When weighing the pros and cons of purchasing a used motorcycle, consumers are not only concerned with price, but also what other value the dealership can offer them.
This new offering from EFG will enable motorcycle dealerships to better provide consumers with valuable options while at the same time maximizing profit and customer loyalty by providing quality pre-owned inventory.
