Premium models demand premium service levels
- 2 May 2019
- Posted by: Alan Feldberg
- Category: News
Businesses have been encouraged to up their games in customer service to match a trend which has seen the premium car market share surge by nearly 60% in the last 10 years.
Accident aftercare specialist AX said retailers and insurers that react positively to this trend could see increased customer satisfaction and loyalty.
AX analysed new car registration data and found that premium brands – including Mercedes, BMW, Jaguar, McLaren and Porsche – had increased in market share by more than 57% in the last decade.
However, as more motorists choose premium vehicles, their expectations around customer service levels have also increased, as has the need for insurers to provide like-for-like replacement vehicles in the event of an accident.
Steve Molloy, director of commercial sales at AX, said, ‘Since 2009, we’ve seen prestige car brands taking more and more market share and, as with any other product, if people are paying more for something they are really proud of, they don’t want to downgrade to a less premium product while their pride and joy is repaired following an accident.
‘Consumer expectation when it comes to customer service is only going to increase further still and insurers and brokers who can meet that throughout the accident management process will enjoy an increase in loyalty and retention.’