Automobile3h ago
EVs could improve dealer customer retention, says Hero MotoCorp CBO
AI EXECUTIVE SUMMARY
Hero MotoCorp’s chief business officer suggests electric two-wheelers could enhance customer retention for dealers by reducing traditional servicing needs and introducing new software-based revenue opportunities. The shift to EVs is expected to complement, rather than fully replace, internal combustion engine (ICE) models in the near term. Dealers may benefit from higher service retention rates and evolving revenue models as the market transitions.
WHY IT MATTERS
This story matters because it highlights how the rise of electric vehicles could reshape dealer business models and customer relationships in the two-wheeler industry.
Electric two-wheelers could help dealers retain more customers even as they reduce the need for traditional servicing, according to Hero MotoCorp’s chief business officer, Ashutosh Varma.EVs are currently complementing, rather than replacing, ICE two-wheelers, says Hero MotoCorpEV service retention could reach 85-90 percentSoftware-based services could create new revenue opportunities for dealersEVs could improve service retentionDealer revenue set to evolveSpeaking at a FADA conclave, Varma sai...
This story was originally reported by Autocar India. As an automated real-time news aggregator, NewsToolBar provides multi-perspective indexing and AI summarization while directing full readership directly to primary publisher sources.
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