Tag Archives: j.d power

COVID Changes – Digital Auto Lending Infected

“The pandemic has severely disrupted dealer-lender communication, with many dealers reporting that lenders were delayed or not available when they needed them, or not able to assist in a timely manner,” said Patrick Roosenberg, director of automotive finance intelligence at J.D. Power. This of course begs the question of there’s another solution – such as borrowers dealing directly digitally with lenders, which will eliminate a lucrative profit center at dealerships. Continue reading

Posted in customer satisfaction, marketing, news analysis, people | Tagged , , , , , | Leave a comment

J.D. Power Completes ALG Acquisition

The money involved right now is breathtaking. Determining an accurate residual value –  the value of a vehicle at the end of a lease term is the underpinning of auto leasing because it allows dealers and manufacturers to set the most competitive lease terms today, while protecting their profits tomorrow. About one-third of new vehicles sold each year are leased, typically for a three-year term. At any point in time, the value of vehicles in outstanding lease portfolios is estimated at $500 billion by Power. Continue reading

Posted in autonomous vehicles, electric vehicles, marketing, mobility company, news analysis | Tagged , , , , , , , | Leave a comment

Covid – Drastic Changes to Commuting Have Slight Effect on Feelings about EVs and Self-Driving Technologies?

While the ongoing Covid plague has drastically changed American lives, what’s not new is that Inexperience and Lack of Knowledge Remain Barriers for Acceptance of EVs and Self-Driving Technologies. Nonetheless, automakers are investing heavily in electrification and self-driving technology despite an absence of substantive consumer interest in either. Continue reading

Posted in alternative fuels, autonomous vehicles, customer satisfaction, electric vehicles, news analysis | Tagged , , , , , | Leave a comment

Auto Shoppers Dumping Dealers for Online Buying

During the COVID-19 pandemic, 65% of automotive shoppers’ decision to purchase a vehicle was affected and 40% of shoppers delayed making a new vehicle purchase. As a result, more buyers are now willing to purchase their vehicles online instead of at a dealership. Continue reading

Posted in customer satisfaction, marketing, people | Tagged , , , , , | 1 Comment

August Vehicle Sales to Drop as Prices Hit Record High

Reporting the same numbers without controlling for the number of selling days translates to a decrease of -16.8% from a year ago. While the decline vs. August 2019 is substantial and reflects the ongoing do nothing about COVID-19 attitude of the hapless Trump reign, August 2020 contains two fewer selling days than August 2019. It also has no help from promotions during the Labor Day weekend, which is after the August sales close. Continue reading

Posted in economy, news analysis, sales | Tagged , , , , , , , | Leave a comment

J.D. Power to Buy ALG from TrueCar

The acquisition is predicted to augment offerings from the data & analytics division of J.D. Power. It is subject to the necessary regulatory approvals. Upon approval and close, all 40 ALG employees will join J.D. Power. Continue reading

Posted in economy, marketing, news analysis | Tagged , , , , , , | Leave a comment

US June Retail Sales Down -6% from Pre-Virus Forecast

The sales came at a high price, though, Record levels of manufacturer incentives for the month of June are supporting the recovery. Incentive spending should reach $4,411 in June, the highest ever for the month and an increase of $445 from June 2019. Incentives on cars are expected to be up $459 to $4,031, with trucks/SUVs up $407 to $4,524. Continue reading

Posted in marketing, results, sales | Tagged , , , , , | Leave a comment

Duh – New Vehicle Quality Determined by Working Technology J.D. Power Says

In a victory of sorts, most domestic brands are above average. Seven domestic brands perform better than the overall industry average of 166 PP100. Continue reading

Posted in awards, customer satisfaction, electronics, engineering | Tagged , , , , | Leave a comment

Consumer Feelings on Future Mobility Technologies Declines

The quarterly study claims to be “the pulse of market readiness and acceptance for self-driving and battery-electric vehicles, as seen through the eyes of consumers and industry experts.” Continue reading

Posted in autonomous vehicles, customer satisfaction | Tagged , , , , , | Leave a comment

US February Retail Vehicle Sales to Surpass a Million

 “Last year it took until September for the industry to reach the current spend levels,” King noted. “While the coronavirus has had no meaningful effect on production yet, it does have the potential to reduce overall inventory levels and lower the need for continued elevated incentives. If unhealthy inventory levels persist throughout the year, however, manufacturers may be faced with spend levels that are pacing towards $5,000 by next year.” Continue reading

Posted in economy, sales | Tagged , , , , , | Leave a comment

Electronic Sales Process – Power Acquires Trilogy Automotive

This in theory expands the capabilities and reach of its existing offering so manufacturers and dealers to improve retail lead management programs. Trilogy Automotive’s patented technology ranges from custom and client driven to turnkey configuration, design and lead management systems. Trilogy has powered automotive companies such as Ford, GM, Nissan, Chrysler, Toyota, Hyundai, Kia, Volvo, Jaguar and AutoNation. Continue reading

Posted in marketing, sales | Tagged , , , , , , | Leave a comment

Auto Industry Sets Record for Transaction Prices, Incentive Spending in December 2019. However, US Sales Falling?

The combination of record prices with overall sales means that consumers will spend $462 billion on new vehicles in 2019. This is up $8.4 billion from last year and marks the first time that expenditures will exceed $460 billion. Continue reading

Posted in economy, news analysis, sales | Tagged , , , , | Leave a comment

2018 Auto Retail Sales Down. Transaction Prices Set Record

“Despite retail sales falling for the sixth consecutive month, the continued growth in transaction prices is allowing manufacturers to offset lower sales with higher revenue,” claims Thomas King, Senior Vice President of the Data and Analytics Division at J.D. Power. “Consumers are on pace to spend nearly $45 billion on autos in December, up 1% from last year and the highest level ever recorded.” Continue reading

Posted in marketing, news analysis, prices, sales | Tagged , , , , , , , , , , | Leave a comment

Used Vehicle Incentives Decrease for the First Time in Years

Whether this is a trend that will save consumers money, or just a blip is debatable and contingent on the U.S. economy and the stated – but not yet implemented – Federal Reserve desire to raise interest rates. Continue reading

Posted in economy, marketing, news analysis, sales | Tagged , , , , , , , , | Leave a comment

Dueling Sales Forecasts for March. Up or Down?

The conflicting numbers are because of a technicality. Two additional selling days will help this month’s volume as the SAAR will stay relatively consistent with recent months. Kelly relies on a monthly total. J.D. Power adjusts for selling days. Nonetheless, March at 1.6 million light vehicle sales. The seasonally adjusted annualized rate (SAAR) for retail sales in March 2016 is expected to reach 13.4 million units, down slightly from 13.5 million units in March 2015. Continue reading

Posted in sales | Tagged , , , , | Leave a comment