NORCROSS, Ga.—October 10, 2022—APCO Holdings, LLC, a leading provider and administrator of automotive F&I products and home to the EasyCare and GWC Warranty brands, is pleased to announce the addition of three new hires to its executive team.

Dell Birch, Ph.D. is APCO Holdings’ new Vice President of Operations and Technology. Birch brings more than 25 years of experience in operations, technology, change management, enterprise strategy and leadership experience to his new role. Birch has previously worked for JM Family Enterprises, EIS Group, Fortegra, Hewlett Packard and Delta Air Lines.

Heather Sachs, CPA has been named Vice President of Finance and Accounting, and brings more than 25 years of finance experience to her new position. Prior to joining APCO Holdings, Sachs worked for JM Family Enterprises and Deloitte, where she gained experience in the automotive industry and public accounting, respectively. Sachs also brings leadership, strategic planning and change management experience through her role as head of finance within the healthcare industry.

Ben Winter is APCO Holdings’ new Vice President of Corporate Development, and brings over 16 years of experience to his role. Winter will be responsible for leading APCO’s efforts for identifying and evaluating new acquisition opportunities, developing acquisition priorities and strategies, and supporting the execution of integration plans for acquired businesses. Prior to joining APCO, Winter managed the corporate development process at a Berkshire Hathaway affiliate and served as a mergers and acquisitions advisor within investment banking and public accounting.

“We continue to build out our leadership team at APCO to ensure that our business is well-positioned for future growth and acceleration,” said Scot Eisenfelder, CEO of APCO Holdings, LLC. “Each of these executives has tremendous insights, experience and talent to help us achieve these goals, and I look forward to their contributions.”

For more information, visit https://apcoholdings.com

About APCO Holdings, LLC

Since 1984, APCO has grown to become a leading provider and administrator of F&I products for the auto industry. Built on a foundation of financial security and a commitment to understanding our customers' needs, APCO is a trusted partner to some of the most well-respected insurers, highly successful dealerships, and leading auto industry players in the country. The company markets its products using the EasyCare, GWC Warranty, and MemberCare brands, as well as other private label products, through a network of independent agents and an internal salesforce that specialize in consulting with and servicing the automotive dealership markets. EasyCare, GWC Warranty, and MemberCare F&I products are the only "MotorTrend® Recommended Best Buy" in the industry. They also carry top ratings from the Better Business Bureau, have protected over 11 million customers, and have paid over $3.5 billion in claims.

For auto dealers, the pandemic hasn’t changed much in terms of staffing issues. According to the NADA 2021 Dealership Workforce Study, the average turnover rate for all employees is 46 percent, and the average turnover rate for salespeople sits around 67 percent.

As inventory levels are slowly replenished and auto dealers plan to grow headcount, attracting and retaining workers may be even more challenging than in the past. In the last few years, there has been a massive shift in how employees view their work and the value it brings to their lives.

In a movement dubbed The Great Resignation, more than 38 million employees quit their jobs in 2021, according to the U.S. Bureau of Labor Statistics. This movement has created a labor shortage that gives workers more leverage than ever.

Not only are they quitting, but disaffected employees and the unemployed are banding together on social media and online forums to rant about poor treatment at work, share expectations of what constitutes an acceptable working environment, and to promote unionization. One subreddit forum dubbed “Antiwork” has more than 2 million members. And companies are paying attention. Senior management at several corporations have “listened in” on these forums, and made significant changes to their culture which subsequently improved employee retention.

So, what do workers really want? According to the Pew Research Center, employees cited low pay (63%), no opportunities for advancement (63%) and feeling disrespected at work (57%) as the top three reasons for leaving their jobs. Another study by Flexjobs cited a toxic workplace culture (62%), low salary (59%), poor management (56%), lack of work-life boundaries (49%) and no remote work (43%) as reasons for leaving.

In an industry where people are our greatest asset, it has never been more important to redefine your company culture to meet job seekers’ expectations. Auto dealers looking to expand might want to rethink their culture and focus on employee happiness. Here are a few areas to address.

Build a team. People want to be part of something meaningful and larger than themselves. Start by building a culture that makes people feel like their work is appreciated. Clarity in roles and expectations, and even difficult conversations when expectations aren’t met provide such purpose, provided they intent to grow rather than diminish. Don’t make up core values; the disconnect will only lead to more dissatisfaction and turnover.

Be flexible. Staff to your needs, not just to fill desks. If an ideal candidate wants to work part-time or work some of their hours remotely, try to accommodate them. Wouldn’t you rather have a great employee for 30 hours a week than a mediocre one for 50 hours?  No one is served by idle staff hanging around an empty showroom. With car shoppers doing more of their purchasing steps online, there is no reason why you can’t have sales and F&I staff work remotely at least some of the time.

Change your assumptions. Don't look for the same people you've always hired in the past. Hiring the same profile and expecting different results IS the definition of insanity. High-pressure sales skills are more harmful than helpful.  Instead, hire people who are process and detail-oriented, with good communication and people skills. They are more likely to provide the experience that today’s consumers expect. 

Focus on output, not input. Design reporting and pay plans that emphasize results over activities. Having salespeople make hundreds of phone calls and send hundreds of emails every week to get a few leads is outdated. If a salesperson is proficient at using social media to generate leads, that is where their time and effort should be focused.

Develop. If you want your employees to invest in your company, invest in them. Employees reach peak productivity after three years, so give them a reason to stay. Develop onboarding and continuous career development programs, and provide employees with incentives to complete each program.

We are living in a culture where many people would rather not work, or work odd jobs, than work at a full-time job they don’t like. It is incumbent upon auto dealers to make their workplace environments attractive enough to turn the underemployed into productive, happy employees.

New VSC covers technology, electronic components and safety systems in vehicles

NORCROSS, GA. — September 12, 2022 – EasyCare, an APCO Holdings brand, introduces TechCare, a new vehicle service contract (VSC) designed exclusively to cover the costly technology, electronic components, and safety systems in vehicles. TechCare provides car buyers with a lower-cost alternative to a traditional VSC, helping dealerships boost service retention rates while saving customers thousands of dollars in repair bills.

TechCare is the latest addition to EasyCare’s comprehensive suite of finance and insurance (F&I) products designed to give dealers the opportunity to maximize every sale, driving greater revenue for the dealership and a better experience for customers.

“Today’s vehicles are loaded with high-tech options to the point where they are essentially computers on wheels. TechCare protects car buyers in the event that these systems and components fail or are damaged,” said Scot Eisenfelder, CEO of APCO Holdings. “Consumers purchase similar protection plans for other products they rely on as part of their daily lives, such as smartphones and computers. This type of protection for technology in vehicles should be a familiar concept for consumers.”

TechCare coverage includes protection for in-vehicle technology such as touchscreens, cameras, infotainment systems and speakers; electronics such as navigation/GPS systems, TV screens, DVD players, WiFi and USB ports; and safety systems such as blind spot detection, lane departure warning, parking sensors and autonomous braking systems. TechCare coverage begins after the manufacturer’s warranty expires and can be extended up to seven years.

Replacement and repair costs for vehicle technology can easily run into thousands of dollars. The average replacement cost for a navigation display unit alone can run over $2,000. Replacing a digital multimedia receiver can add up to $2,428. TechCare covers these kinds of repairs so consumers don't have to worry about an unexpected repair bill.

In addition to coverage for technology, electronics and safety systems, TechCare comes with:

—24/7 emergency roadside assistance and towing

—Substitute transportation (rideshare vehicles and taxis) reimbursement

—Trip interruption reimbursement

—A diminishing deductible option to help dealers with service retention (if a customer returns to any store in the selling dealer’s group the deductible is lower or $0)

TechCare can be sold with any vehicle eligible for coverage, including electric vehicles (EVs). It provides dealerships with another opportunity to sell a VSC product to customers who do not choose to purchase a traditional VSC. TechCare is accepted at any dealership or ASE Certified repair facility in the U.S. and Canada, and all repairs are made by certified technicians. TechCare is also 100 percent transferable to a vehicle’s new owner in the event of a sale.

For more information, visit https://easycare.com

About EasyCare

Since 1984, EasyCare has been helping some of the most successful dealerships in the nation drive results in their stores with a full suite of F&I products, forward-thinking training, dealership development, consultative participation programs, and a best-in-class claims experience. EasyCare has the only F&I products named a "MotorTrend Recommended Best Buy" for franchised dealers and has an A+ rating from the Better Business Bureau. EasyCare is part of the APCO Holdings, LLC, family of brands, which has protected over 11 million customers and paid over $3.5 billion in claims. For more information about EasyCare, please visit easycare.com. For more information about the APCO Holdings family of brands, please visit apcoholdings.com.

NORCROSS, GA. — October 14, 2021 – The Atlanta Business Chronicle has named APCO Holdings, LLC as one of Atlanta’s 50 Largest Private Companies. APCO, a leading provider and administrator of F&I products to automotive retailers, is ranked #28 on the list that is compiled annually and ranks companies based on revenue.

“This is quite an achievement, considering that 2020 was a challenging year in the automotive industry with the pandemic and subsequent inventory shortages,” said Scot Eisenfelder, CEO of APCO Holdings. “In the face of so many uncertainties, consumers have really embraced the added protection that F&I products bring to their vehicle purchase. In the last 18 months, automotive dealerships have also shown incredible resiliency and the ability to adapt to changing market conditions.”

APCO Holdings, LLC is home to the EasyCare, GWC Warranty and MemberCare brands. Its F&I products are the only “MotorTrend® Recommended Best Buy” in the industry. The brands are also A+ rated by the Better Business Bureau, have protected over 11 million customers and paid over $3.5 billion in claims.

APCO was one of a few companies in the retail automotive business on the list. Other companies that ranked include Cox Enterprises Inc., RaceTrac Petroleum Inc., Jackson Healthcare, Wade Ford Inc., Travel Inc. and Treadmaxx Tire Distributors Inc.

For more information about APCO Holdings, visit https://apcoholdings.com/

About APCO Holdings

Since 1984, APCO has grown to become a leading provider and administrator of F&I products for the auto industry. Built on a foundation of financial security and a commitment to understanding our customers’ needs, APCO is a trusted partner to some of the most well-respected insurers, highly successful dealerships, and leading auto industry players in the country. The company markets its products using the EasyCare, GWC Warranty, and MemberCare brands, as well as other private label products, through a network of independent agents and an internal salesforce that specialize in consulting with and servicing the automotive dealership markets. EasyCare, GWC Warranty, and MemberCare F&I products are the only “MotorTrend® Recommended Best Buy” in the industry. They also carry top ratings from the Better Business Bureau, have protected over 11 million customers and paid over $3.5 billion in claims. For more information about the APCO Holdings family of brands, please visit apcoholdings.com.

NORCROSS, GA. — October 4, 2021 – APCO Holdings, LLC, a leading provider and administrator of automotive F&I products and home to the EasyCare, GWC Warranty and MemberCare brands, has named Bobbie Davis as Vice President, Enterprise Project Management Office. In this newly created role, Davis will advance the organization’s project planning and change management capabilities to drive continued growth.

“We are excited to have Bobbie join our leadership team to steer the evolution of project management, process development, and resource planning as our company grows,” said Scot Eisenfelder, CEO of APCO Holdings. “She will play a key role in helping us successfully plan and implement the strategic initiatives that we have envisioned for the future.”

Prior to joining APCO, Davis held various positions of increasing leadership focused on project and program management, ERP implementations, service lifecycle management, human resources, and information technology. Bobbie was most recently Director of Enterprise PMO for PowerPlan, Inc.

“I welcome the opportunity to build a lasting discipline which will solidly establish APCO Holdings as a project-based organization that continuously propels the business to greater heights. I am honored to partner with an organization that is committed to excellence and maximizing the customer experience,” said Davis.

Davis has an MBA from The Pennsylvania State University, a Bachelor of Science in Management from Georgia Tech, and is a certified Project Management Professional.

About APCO Holdings

Since 1984, APCO has grown to become a leading provider and administrator of F&I products for the auto industry. Built on a foundation of financial security and a commitment to understanding our customers’ needs, APCO is a trusted partner to some of the most well-respected insurers, highly successful dealerships, and leading auto industry players in the country. The company markets its products using the EasyCare, GWC Warranty, and MemberCare brands, as well as other private label products, through a network of independent agents and an internal salesforce that specialize in consulting with and servicing the automotive dealership markets. EasyCare, GWC Warranty, and MemberCare F&I products are the only “MotorTrend Recommended Best Buy” in the industry. They also carry top ratings from the Better Business Bureau, have protected over 11 million customers and paid over $3.5 billion in claims. For more information about the APCO Holdings family of brands, please visit apcoholdings.com.

NORCROSS, GA. —August 23, 2021 – APCO Holdings, LLC, a leading provider and administrator of automotive F&I products and home to the EasyCare, GWC Warranty and MemberCare brands, has named Kylie Price as Vice President, Post-Purchase Sales. In her new position, Price is responsible for the evolution of APCO’s post-purchase channel to continue to drive growth and advance digital outreach efforts.

“For F&I products, managing the post-purchase relationship with the consumer is just as important as the initial sale. We’re thrilled to have Kylie spearhead this critical retention and growth channel for our dealership customers,” said Scot Eisenfelder, CEO of APCO Holdings.

Prior to joining APCO, Price spent five years at Affinitiv where most recently she was Executive Vice President of OEM accounts. Price has more than a dozen years of experience in sales, marketing and digital advertising in the automotive industry, and holds degrees in public relations and advertising from Aquinas College and Loyola University of Chicago.

About APCO Holdings

Since 1984, APCO has grown to become a leading provider and administrator of F&I products for the auto industry. Built on a foundation of financial security and a commitment to understanding our customers’ needs, APCO is a trusted partner to some of the most well-respected insurers, highly successful dealerships, and leading auto industry players in the country. The company markets its products using the EasyCare, GWC Warranty, and MemberCare brands, as well as other private label products, through a network of independent agents and an internal salesforce that specialize in consulting with and servicing the automotive dealership markets. EasyCare, GWC Warranty, and MemberCare F&I products are the only “MotorTrend Recommended Best Buy” in the industry. They also carry top ratings from the Better Business Bureau, have protected over 11 million customers and paid over $3.5 billion in claims. For more information about the APCO Holdings family of brands, please visit apcoholdings.com.

NORCROSS, GA. March 22, 2021 – APCO Holdings, LLC, a leading provider and administrator of automotive F&I products and home to the EasyCare, GWC Warranty and MemberCare brands, announced today that Scot Eisenfelder has been named CEO, effective May 1st, 2021. Eisenfelder joined APCO as Senior Vice President, Strategy and Planning in August 2020.

APCO Holdings’ current Chairman and CEO, Finbarr O’Neill, will assume the position of Executive Chairman.

“I look forward to continuing the strategic direction that Fin has set here in the last two years,” said Eisenfelder. “We have several exciting new initiatives planned, including the expansion of core offerings that will help our customers thrive in a digital retail world. We will also continue to expand our offerings in the credit union, recreational vehicle and direct to consumer channels.”

O’Neill, 69, will relinquish his role as CEO upon completion of a two-year commitment. As Executive Chairman, O’Neill will oversee strategic direction and senior management development.

“When we recruited Scot to join the board in 2019, we knew he would be an excellent fit at APCO, due to his deep automotive industry experience and keen understanding of the critical role of automotive dealers in the industry. Over the last year he has taken on increasing levels of responsibility, demonstrating at each step he is more than capable of leading APCO to new levels of growth,” said O’Neill.

In his two years as Chairman and CEO of APCO Holdings, O’Neill has helped drive a number of changes including bringing more focus on the core business, shedding extraneous initiatives, upgrading systems, improving processes and preparing for the impact of digital retail on the automotive industry.

Prior to joining APCO Holdings, Eisenfelder was Executive Chairman and CEO of Affinitiv, Inc., a leading provider of data-driven marketing and retention solutions. As Senior Vice President, Strategy at AutoNation, Eisenfelder led significant initiatives to drive retail innovation. He also led JM Family’s dealer software business and was Senior Vice President of Product Management, Strategy and Marketing at Reynolds and Reynolds, delivering profitable growth for both companies. Eisenfelder holds an MBA from the Wharton Business School, graduating with distinction as a Palmer Scholar. He attended Mannheim University in Germany as a Fulbright Scholar and graduated summa cum laude in Economics from Princeton.

About APCO Holdings

Since 1984, APCO has grown to become a leading provider and administrator of F&I products for the auto industry. Built on a foundation of financial security and a commitment to understanding our customers’ needs, APCO is a trusted partner to some of the most well-respected insurers, highly successful dealerships, and leading auto industry players in the country. The company markets its products using the EasyCare, GWC Warranty, and MemberCare brands, as well as other private label products, through a network of independent agents and an internal salesforce that specialize in consulting with and servicing the automotive dealership markets. EasyCare, GWC Warranty, and MemberCare F&I products are the only “MotorTrend Recommended Best Buy” in the industry. They also carry top ratings from the Better Business Bureau, have protected over 11 million customers and paid over $3.5 billion in claims. For more information about the APCO Holdings family of brands, please visit apcoholdings.com.

Scot Eisenfelder explains why dealers shouldn't neglect selling pre-paid maintenance during the initial sale.

Affinitiv Board Member, Scot Eisenfelder, shares why it is no longer in the best interest of a dealer to hold inventory as it was in the past.

New vehicle sales are slowing and increased pricing transparency is eroding front-end sales margins. I predict that increased F&I pricing transparency due to online retailing solutions will soon put the same downward pressure on F&I margins. 

To stay profitable in this environment, dealers must transition to a razor and razor blade business model, where almost no profit is made on the front end and all the profit is made on the back end. With this business model, profits are made by creating an enduring relationship with customers over the lifetime of vehicle ownership.

How will this affect dealership pay plans?

The traditional dealership business model was designed to optimize profits from every transaction: the sale, F&I, service. We’re one of the few industries left that have 100% variable pay plans, and most dealers still pay salespeople and service advisors based on transactions, instead of on relationships.

The problem with variable pay plans is that they’re out of alignment with the experience that you want to provide customers. Think about it: If I make a killing off you on the first sale, how can I move forward to create a relationship with you that’s built on trust?

Variable pay plans are not good for the consumer, nor are they good for the long-term profitability of a dealership. Besides, it’s becoming increasingly difficult to find young people who are willing to work for this type of compensation.

Changing Pay Plans in Sales

In the old days, the view was that gross margin on a vehicle was determined by the ability of the salesperson and sales manager to negotiate. If you think about the number of deals that are now coming through TrueCar, Costco or credit unions, your salespeople don’t have much opportunity to influence gross margins. Why pay them on that basis?

With traditional pay plans, even the sale of the vehicle is split up into two different transactions, with compensation structures pitting sales against F&I.  But the customer has only one bucket of money, not two buckets of money. Is it any wonder that forcing a customer to sit through two separate sales processes leaves a bad taste in their mouth?

If the future of dealership profitability relies on nurturing customer relationships, the compensation structure should reward salespeople for efforts that promote relationship-building. There are plenty of things you can bonus on that aren’t related to number of units sold or gross generated.

My brother-in-law who has a dealership now bonuses on positive reviews. You could bonus on CRM KPIs, such as number of conversations. Definitely bonus on service introductions, as well as when customers bring their vehicle in for service the first time. This would encourage salespeople to follow up with customers after the sale, which rarely happens now.

Changing Pay Plans in Service

The same transactional mindset exists in service. When a service advisor presents a list of $1,000 in recommended repairs, the customer’s initial reaction is one of resistance.

However, if the service advisor breaks down recommended repairs into urgent items, safety items and nice-to-haves, then the customer is better prepared to address the items over time.

With traditional pay plans, service advisors fear that the customer either won’t get the service done, or they’ll go somewhere else, or even if they do come back in they’ll go to a different service advisor, who would then make the bonus on the sale. This mindset encourages an all or nothing attitude.

What if, instead of transactions or longevity bonuses, you paid service advisors on how many of their customers return for service? It doesn’t matter which service advisor the customer comes back to. The primary relationship the customer should have is with your brand and store. The relationship they have with their service advisor should be secondary to that.

Making the Transition

Variable pay plans aren’t good for the customer or for the long-term profitability of dealerships. Changing pay plans doesn’t have to be a huge, sudden transformation. Start by tweaking bonuses and incentives. Think about how to create a less mercenary pay plan that allows someone to put food on the table without having to gouge customers every chance they get.

Eventually, your compensation plans should have a higher base pay and award bonuses based on metrics that reward relationships, rather than transactions.