The analysis by Loop also revealed service plans are more important than ever for customer retention and dealership success, with research showing a 1% increase in service plan penetration is associated with a 0.49% increase in market share.
Simon Porri, CEO at Loop, commented:
“The data shows EV is a completely different beast in terms of product, customer type, and process, and there is a steep learning curve which is reflected in the CSI scores. Alongside customer satisfaction, service plan penetration remains key to customer retention and ultimately success for dealers.
To retain EV customers, OEMs and dealers need to track EV-specific sales and customer service performance to isolate what’s working and where. This enables the replication of top-performing behaviours across the dealer network.
There is also a significant need to upskill on EV consultative selling. Dealerships and OEMs need to invest in further training around EV product positioning, benefits beyond range and charging to reassure customers about wide-ranging concerns including range anxiety, charging infrastructure, costs, battery lifespan, resale value, amongst others.”
About Loop
Loop is an OEM-Dealer performance platform for automotive, motorcycle, and agricultural brands. It centralises KPI data from sales, aftersales, and customer experience into one place, giving teams the tools to track performance, compare sites, and take action where it counts. Trusted by over 20 leading brands, including Volkswagen Group, Honda, Hyundai, and AGCO Corporation, Loop covers everything from action planning and balanced scorecards to performance comparison and dealer visit management.
