How loyal are your customers when it comes to returning their vehicles to you for service? If you’re like most other dealers, the answer is probably: “Not very.” In fact, a new study by Cox Automotive has found that about 70 percent of consumers who purchased or leased from a dealer did not return to that dealer for service in the past year. This equates to roughly $266 billion in annual lost revenue across all franchise dealers. Ouch.
The statistic comes from the second phase of Cox’s 2018 Service Industry Study, which surveyed approximately 3,550 consumers and 404 franchise dealership employees to measure consumer trends and perceptions around the service experience.
Read the full article at Cantin Automotive Insider.