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  • JD Power Certified Call Center Program 2013: Merrill Edge

    Bank of America’s Merrill Edge Call Centers Recognized for Providing an Outstanding Customer Service Experience for a Third Consecutive Year

    2013-12-18

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    WESTLAKE VILLAGE, Calif.: 18 December 2013 — Merrill Edge has been recognized for call center operation customer service excellence for a third consecutive year under the JD Power Certified Call Center Program.SM The Certified Call Center Program distinction acknowledges a strong commitment by the company’s call centers to provide “An Outstanding Customer Service Experience.”

    To become certified, the call center operations, located in Chandler, Ariz.; Hopewell, N.J.; Jacksonville, Fla.; and Lincoln, R.I., successfully passed a detailed audit of more than 100 practices that encompass the call center’s customer satisfaction measurement and analysis strategies, including recruiting; training; employee incentives; quality assurance capabilities; and management roles and responsibilities. As part of its evaluation, JD Power also conducted a random survey of Merrill Edge customers who recently contacted one of its call centers.

    “Merrill Edge is to be congratulated for demonstrating once again that they are committed to delivering an outstanding customer experience through its call centers,” said Mark Miller, senior director at JD Power. “Our research shows that its customers enjoy fast service from courteous and knowledgeable representatives.”

    For certification status, a call center must also perform within the top 20 percent of customer service scores, which are based on benchmarks established in cross-industry customer satisfaction research conducted by JD Power. The evaluation criteria include the customer service representative’s courtesy, knowledge and concern for the customer; promptness in speaking to a person; and timely resolution of the problem or request. Additionally, the experience with the automated phone system is evaluated based on the clarity of the information provided; the ease of navigating the phone menu prompts; and the ease of understanding the phone menu instructions.

    “At Merrill Edge, our top priority is creating better connections for our customers through a streamlined investment service that meets all of their financial needs–whether they contact us in-person, online or over the phone,” said Alok Prasad, head of Merrill Edge. “We are excited that our call centers, in particular, have earned such a high honor from JD Power for delivering outstanding service to our customers for the third year running, which is unmatched in our industry.”

     

    The Certified Call Center Program was launched by JD Power in 2004 to evaluate overall customer satisfaction with call centers and to help call centers in various industries increase their efficiency and effectiveness by establishing and continually updating leading practices for handling service calls.

    For more information on the Certified Call Center Program, please visit JDPower.com.

    About JD Power

    JD Power is a global marketing information services company providing performance improvement, social media and customer satisfaction insights and solutions. The company’s quality and satisfaction measurements are based on responses from millions of consumers annually. Headquartered in Westlake Village, Calif., JD Power has offices in North/South America, Europe and Asia Pacific. For more information on car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com. JD Power is a business unit of McGraw Hill Financial.

    About McGraw Hill Financial

    McGraw Hill Financial (NYSE: MHFI) is a leading financial intelligence company providing the global capital and commodity markets with independent benchmarks, credit ratings, portfolio and enterprise risk solutions, and analytics. The Company’s iconic brands include: Standard & Poor’s Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL, JD Power, and McGraw Hill Construction. The Company has approximately 17,000 employees in 27 countries. Additional information is available at www.mhfi.com

    Media Relations Contacts

    John Tews; Troy, Mich.; 248-680-6218; [email protected]

    Kristen Georgian, Bank of America; 617-434-0234; [email protected] 

    No advertising or other promotional use can be made of the information in this release without the express prior written consent of JD Power. www.jdpower.com  

    Follow us on Twitter @jdpower

     
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  • 2013 India Automotive Performance, Execution and Layout (APEAL) Study

    Customer Satisfaction with New-Vehicle Design and Performance In India Increases for a Sixth Consecutive Year

    2013-12-16

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    SINGAPORE: 16 December 2013 — Customer satisfaction with new-vehicle design and performance in India increases for a sixth consecutive year, according to the JD Power Asia Pacific 2013 India Automotive Performance, Execution and Layout (APEAL) StudySM released today.

    VIDEO: In the video above, we tackled the following issues:

    • Chapter 1 – Growing importance of audio/ entertainment/ navigation features in cars

    • Chapter 2 – Importance of Vehicle Exterior to Car Owners in India

    • Chapter 3 – Performance of Honda Amaze and Toyota Innova

    Now in its 15th year, the study examines how gratifying a new vehicle is to own and drive, based on owner evaluations during the first two to six months of ownership. The study measures satisfaction across 10 performance categories: vehicle exterior; vehicle interior; storage and space; audio/ entertainment/ navigation; seats; heating, ventilation and air conditioning (HVAC); driving dynamics; engine/ transmission; visibility and driving safety; and fuel economy. Overall APEAL performance is reported as an index score based on a 1,000-point scale, with a higher score indicating higher satisfaction.

    The overall APEAL score averages 845 in 2013, which is a nine-point increase from 2012. The industry improves across all 10 categories, with the largest improvement posted in the audio/ entertainment/ navigation category, due to a higher percentage of vehicles being delivered with factory- or dealer-installed features such as USB connectivity for iPod/MP3 players, hands-free communication and steering wheel-mounted audio controls.

    “Increasingly, vehicle owners want to improve the value of the time spent in their cars, and audio/ entertainment/ navigation features help them stay connected and entertained,” said Mohit Arora, executive director at JD Power Asia Pacific, Singapore. “Increased choice of branded accessories at a range of prices has also increasingly induced new-vehicle buyers to install such fitments at the time of delivery.”

    KEY FINDINGS

    • During the past five years, the impact of vehicle exterior on overall satisfaction has increased, particularly in the midsize segment. Additionally, 13 percent of owners indicate that good vehicle styling was the main reason they selected the vehicle that they purchased in 2013, up from 8 percent in 2012.

    • The quality of vehicles has improved consistently during the past three years, and sensitivity towards vehicle breakdown has increased in India Although the proportion of customers experiencing a breakdown in their vehicle has remained at 4 percent since 2011, the gap in APEAL scores between customers who experience a breakdown and those who do not has increased to 44 points in 2013 from 23 points in 2011.

    • Among highly satisfied customers (overall satisfaction of 902 points or higher), 87 percent say they “definitely would” recommend their vehicle model to a friend or relative. 

    “The high recommendation rate among highly satisfied customers further emphasizes the importance of catering to customer needs and requirements,” said Arora. “While on one hand automakers are adding more features to their models, they also need to understand the customer value propositions for these features.”

    Model Results by Segment

    • Maruti Suzuki models rank highest in each of the compact segments: Maruti Suzuki Alto 800 (entry compact); Maruti Suzuki Estilo (compact); Maruti Suzuki Ritz (upper compact); and Maruti Suzuki Swift (premium compact).

    • Toyota models rank highest in the utility vehicle segments: Innova in the MUV/ MPV segment for a seventh consecutive year and Fortuner ranks highest in the SUV segment.

    • The Honda Amaze ranks highest in the entry midsize segment. 

    • The Hyundai Verna and Volkswagen Vento rank highest (in a tie) in the midsize segment.

    • The Chevrolet Cruze ranks highest in the premium midsize segment.

    The 2013 India APEAL Study is based on responses from 9,069 owners who purchased a new vehicle between November 2012 and July 2013. The study was fielded between May and September 2013 in 25 cities across India.

    About JD Power and Advertising/Promotional Rules http://www.jdpower.com/about/index.htm

    About McGraw Hill Financial www.mhfi.com 

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  • 2013 Australia Customer Service Index (CSI) Study

    Satisfaction with After-Sales Service Experience in Australia Declines for a Second Consecutive Year, with Urbanites and Households with Children among the Least Satisfied

    2013-12-03

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    VIDEO:

    Chapter 1: 6745: Major findings of the Australia CSI Study
    Chapter 2: 6746: Customer Requirements at the Service Centre
    Chapter 3: 6739: Capped Price Servicing
    Chapter 4: 6734: Performance of the Highest Ranked Make
    Chapter 5: 6744: What Stands Out for the Australian Market?

     

    SINGAPORE: 4 December 2013 — In order to improve the overall after-sales service experience among vehicle owners in Australia, service centres need to adapt to the changing needs and requirements of customers, according to the JD Power Asia Pacific 2013 Australia Customer Service Index (CSI) Study SM released today.

    Overall satisfaction with the vehicle service experience at authorised service centres in Australia declines to 783 (on a 1,000-point scale) in 2013, an 8-point decrease from 2012. Satisfaction among vehicle owners in households with children decreases by 13 points to 767, while satisfaction among urbanites decreases by 12 points to 772 year over year. Notably, 35 percent of customers taking their car for service have children in their households and 27 percent of all service customers in the study live in a city.

    “Prominent this year is not only the overall drop in satisfaction among customers taking their vehicle in for a service, but also how drivers with children are recording some of the lowest scores in the study,” says Gordon Shields, director at JD Power Asia Pacific, Singapore.

    KEY FINDINGS

    • Among the 19 percent of vehicle owners who remain at the service centre while their vehicle is serviced, satisfaction is higher when a broad range of facilities and amenities are available during their wait. Service centres offering four or fewer facilities and amenities gain an average overall satisfaction of 774 compared with 859 for centres that offer five or more. 

    • The study shows that only 14 percent of service centres offer Wi-Fi, and only five percent have a children’s playground. This is in stark contrast to other markets, like China, which has 36 percent of service centres providing a children’s playground or 88 percent with Internet access  . Satisfaction levels increase significantly when Wi-Fi is offered at the dealership compared with when it’s not (837 vs. 774 points), and if a playground is available (835 vs. 780 points).

    • According to the study, 29 percent of vehicle owners need alternative transportation when leaving their vehicle for service at the dealership or service centre. Among vehicle owners who need alternative transportation, 50 percent are offered a free ride; 34 percent are offered a free loan vehicle; and 11 percent are not offered an alternative. Overall satisfaction among vehicle owners who are not provided a transportation option is 704 points–79 points below the industry average. 

    • Nearly one-fifth (19%) of vehicle owners do not receive a commitment from their dealer regarding the time their vehicle will be ready. Among the 12 percent of vehicle owners who indicate their committed time was missed, satisfaction is 151 points lower than among those whose serviced vehicle was ready on time (657 vs. 808, respectively).

    • Offering capped-price servicing increases the likelihood of securing repeat business for service centres. More than one-half (52 percent) of vehicle owners who received capped-price servicing indicate they will revisit their service centre or dealership for post-warranty work, compared with 45 percent among those who did not receive capped pricing.

    • More than one-fourth (28%) of vehicle owners indicate their vehicle was both washed and vacuumed during their service visit, compared with 27 percent in 2012 and 15 percent in 2011. Moreover, satisfaction among vehicle owners whose vehicle was cleaner after service than before service is 829, compared with 757 among vehicle owners whose vehicle was not cleaned, and 587 among those whose vehicle was returned less clean after service than it was upon arrival at the service centre. 

    • Among vehicle owners who are highly satisfied (satisfaction scores 893 or higher) with the dealer’s overall service performance, 85 percent say they “definitely would” revisit the service dealer for post-warranty service. In contrast, only 10 percent of highly dissatisfied vehicle owners (satisfaction scores of 699 points or lower) say the same.

    “It is becoming increasingly important for dealers and service centres to be sensitive of vehicle owners’ time constraints,” said Shields. “Delivering on promised service times, providing quicker service options, as well as better amenities and facilities, will ensure customers are able to be more productive during their service visit and, in turn, further enhance the customer experience.” 

    Australia Customer Satisfaction Rankings

    The largest drop in satisfaction in 2013 is due to the decline in scores in four factors: vehicle pick-up (-10 points); service quality (-9 points); service facility (-8 points); and service advisor (-8 points). Among the 12 brands ranked in this study, Mazda ranks highest with a score of 804. Mazda performs particularly well in service facility and service quality. Toyota ranks second (802), while Subaru (801), Honda (798) and Nissan (787) round out the five highest-ranking brands. 

    Now in its fourth year, the study measures overall satisfaction with the vehicle service experience at authorised service centres by examining five factors (listed in order of importance): service quality; vehicle pick-up; service advisor; service initiation; and service facility. Overall satisfaction is measured on a 1,000-point scale, with a higher score indicating higher satisfaction.

    The 2013 Australia Customer Service Index (CSI) Study is based on responses from 4,421 owners who purchased their new vehicle between August 2008 and September 2013 and took their vehicle for service between August 2012 and September 2013. The study was fielded in August and September 2013.

    Media Relations Contacts

    XingTi Liu; JD Power Asia Pacific; 08-Shenton Way, #44-02/03/04; Singapore, 068811; Phone +65-67338980; [email protected]

    John Tews; Director, Media Relations; JD Power; Troy, Michigan 48083 USA; 001-248-680-6218; [email protected]

    About JD Power and Advertising/Promotional Rules http://www.jdpower.com/about/index.htm

    About McGraw Hill Financial www.mhfi.com  

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  • 2013 Thailand Initial Quality Study (IQS)

    New-Vehicle Quality in Thailand Improves 28 Percent as the Number of Problems Drops Considerably in 2013

    2013-12-02

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    BANGKOK: 2 December 2013 — Initial new-vehicle quality in Thailand improves 28 percent in 2013, according to the JD Power Asia Pacific 2013 Thailand Initial Quality StudySM (IQS) released today.

    KEY FINDINGS

    • Overall initial quality averages 84 problems per 100 vehicles (PP100) in 2013, compared with 116 PP100 in 2012. 
    • Forty-four percent of new-vehicle owners report no problems in the first two to six months of ownership, an improvement from 29 percent in 2012. 
    • Premium midsize car owners report the fewest number of problems with their vehicle (55 PP100), while compact car owners report the most  problems (108 PP100).
    • Excessive wind noise remains the most frequently cited problem, reported by one in eight new-vehicle owners. 
    • Despite a decrease in the average number of problems experienced, more problems related to noisy brakes, engine idling and squeak or rattle noises from the instrument panel/ dashboard are reported in 2013, compared with 2012.
    • Excessive fuel consumption is among the top five most reported problems. The study finds that fewer than one-third of owners were told about the fuel efficiency when they purchased their vehicle.

    “Efforts and investments made at improving vehicle manufacturing quality in Thailand are starting to be reflected, as fewer owners are reporting problems with their vehicle during the first few months of ownership,” said Loic Pean, senior manager at JD Power Asia Pacific. “At the same time, vehicle owner expectations are increasing. In particular, owner feedback indicates increasing sensitivity to build quality and comfort features inside the cabin, including air-conditioning, interior materials and the audio/ entertainment/ navigation system.”

    Initial Quality Study Rankings

    Among the 78 models included in the study, four models from Toyota (Camry Hybrid; Hilux Vigo Champ Prerunner D-Cab; Hilux Vigo Champ S-Cab; and Hilux Vigo Champ Smart Cab) rank highest in their respective segments. 

    Three models from Honda (Brio; City; and CR-V) and one model from Mazda (Mazda3) also rank highest in their respective segments.

    The 2013 Thailand Initial Quality Study (IQS) is based on evaluations from 5,015 owners who purchased their new vehicle between October 2012 and June 2013. The study covers 13 different makes that include 78 different passenger car, pickup truck and utility vehicle models. The study was fielded between April and August 2013.

    About JD Power Asia Pacific

    JD Power Asia Pacific has offices in Tokyo, Singapore, Beijing, Shanghai and Bangkok that conduct customer satisfaction research and provide performance analytics services in the automotive, information technology and finance industries. Together, the five offices bring the language of customer satisfaction to consumers and businesses in Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Taiwan, Thailand and Vietnam. Information regarding JD Power Asia Pacific and its products can be accessed through the Internet at JDPower.com. Media e-mail contact: [email protected]. 

    About JD Power and Advertising/Promotional Rules http://www.jdpower.com/about/index.htm

    About McGraw Hill Financial www.mhfi.com

    Media Relations Contacts

    XingTi Liu; JD Power Asia Pacific; 08-Shenton Way, #44-02/03/04; Singapore, 068811; Phone +65 6 733 8980; [email protected]

    John Tews; Director, Media Relations; JD Power; Troy, Michigan 48083 USA; +001 248 680 6218; [email protected] 

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  • 2013 China Automotive Performance, Execution and Layout (APEAL) Study

    Chinese Domestic Auto Brands Gain Ground in Designing Appealing Cars

    2013-11-29

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    SHANGHAI: 29 November 2013 — When it comes to the appeal of new vehicles, Chinese domestic auto brands have narrowed the gap with international brands to its slimmest level since 2003, according to the JD Power Asia Pacific 2013 China Automotive Performance, Execution and Layout (APEAL) StudySM released today.

    Now in its 11th year, the study examines how gratifying a new vehicle is to own and drive, based on owner evaluations during the first two to six months of ownership. The study examines 82 attributes across 10 vehicle performance categories: vehicle exterior; vehicle interior; storage and space; audio/ entertainment/ navigation; seats; HVAC; driving dynamics; engine/ transmission; visibility and driving safety; and fuel economy.

    The overall APEAL score among Chinese domestic brands averages 772 points (on a 1,000-point scale), compared with 816 among international brands. The 44-point gap between domestic and international brands is the smallest in the history of the study and down from a 58-point gap in 2012.

    Collectively, Korean brands achieve the highest average APEAL score by country of origin, with an average score of 838 points. European brands average 823 points, followed by U.S. (805) and Japanese (800) brands. Chinese brands average 32 points below industry average, an improvement from 2012 when they were 41 points below industry average.

    The overall new-vehicle APEAL score in 2013 averages 804 points in 2013, decreasing by 18 points from 2012. This significant drop in vehicle APEAL is attributed to consumers in China having becoming more discerning, particularly because they  have an ever-increasing range of new vehicles from which to choose.

    “With more than 500 passenger vehicle models in the market[1], it has become more difficult to woo Chinese consumers,” said Dr. Mei Songlin, vice president and managing director of JD Power China.  “Our data shows that new-vehicle shoppers consider 2.62 brands, on average, before making their purchase decision, compared with 2.48 in 2012. Such comparisons have resulted in customers becoming more critical when rating their experience with their vehicle.”

    The significant year-over-year price decline in the auto industry has also negatively impacted owner satisfaction with their vehicle, according to the 2013 study.

    “If an owner sees the price of their newly purchased vehicle declining dramatically, their appreciation of the vehicle’s appeal is negatively affected,” said Dr. Mei. “Of the 12 segments included in the study, nine have experienced a decline in vehicle prices during the nine-month study period.”

    The study finds that new-vehicle performance has a strong impact on customer loyalty and advocacy. The more satisfied owners are with the performance of their vehicle, the more likely they are to recommend it to others and repurchase from the same brand in the future. Among owners whose vehicle achieved an APEAL score of 861 or higher, 31 percent say they “definitely will” repurchase a vehicle from the same manufacturer again, and 54 percent say they “definitely will” recommend their model to family and friends. In comparison, repurchase and recommendation intentions drop to 6 percent and 15 percent, respectively, among owners whose vehicle achieved an APEAL score of lower than 749.

    “Key areas of focus for automakers in the Chinese market are smell of interior, fuel economy and seat materials,” said Tony Zhou, automotive research director at JD Power China. “In particular, improving smell of interior may improve customer satisfaction, as it is an area that receives low ratings from vehicle owners.”

    Luxury brands earn the six highest-ranked positions among the 65 brands examined in the study. Land Rover ranks highest among nameplates, with a score of 857, followed by Audi and Mercedes-Benz (in a tie) with 848 each. Volvo (847) ranks fourth and Cadillac (845) fifth.

    Two Chinese domestic brands—Luxgen and Zhonghua—rank above industry average. 

    Beijing Hyundai and Shanghai General Motors each receive two model-level awards: Beijing Hyundai for the Langdong Elantra (midsize) and ix35 (SUV) and Shanghai General Motors for the Chevrolet Sail (premium compact segment) and Buick New GL8 (MPV). 

    The Dongfeng Yueda Kia (Kia K2) ranks highest in the entry midsize segment. Chinese domestic models Wuling Hongguang (mini van) and Baojun Lechi (compact) rank highest in their respective segments.  

    Other models ranking highest in their segments are the Audi Q5 (luxury SUV); Volkswagen Magotan (upper premium midsize); and Mercedes-Benz S-Class (luxury).
     

    In total, 10 segments are eligible for awards in 2013[2]. The highest-ranked models by segment are:

    • Compact segment: Baojun Lechi
    • Premium compact segment: Chevrolet Sail
    • Entry midsize segment: Kia K2
    • Midsize segment: Hyundai Langdong Elantra
    • Upper premium midsize segment: Volkswagen Magotan
    • Luxury segment: Mercedes-Benz S-Class
    • Luxury SUV segment: Audi Q5
    • SUV segment: Hyundai ix35
    • MPV segment: Buick new GL8
    • Mini van segment: Wuling Hongguang

    The 2013 China Automotive Performance, Execution and Layout (APEAL) Study is based on evaluations from 20,926 owners who purchased a new passenger vehicle between October 2012 and June 2013.

    The study examines 12 vehicle segments, which include 213 passenger vehicle models and 65 brands. The study was fielded from April to August 2013 in 46 major cities across China.

     

    About JD Power Asia Pacific

     

    JD Power Asia Pacific has offices in Tokyo, Singapore, Beijing, Shanghai and Bangkok that conduct customer satisfaction research and provide consulting services in the automotive, information technology and finance industries. Together, the five offices bring the language of customer satisfaction to consumers and businesses in China, Australia, India, Indonesia, Japan, Malaysia, Philippines, Taiwan, Thailand and Vietnam. Information regarding JD Power Asia Pacific and its products can be accessed through the Internet at www.jdpower.com. Media email contact: [email protected].Please follow JD Power at http://e.weibo.com/jdpowerchina.

     

    About JD Power

    JD Power is a global marketing information services company providing performance improvement, social media and customer satisfaction insights and solutions. The company’s quality and satisfaction measurements are based on responses from millions of consumers annually. Headquartered in Westlake Village, Calif., JD Power has offices in North/South America, Europe and Asia Pacific. For more information on car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com. JD Power is a business unit of McGraw Hill Financial.
     

    About McGraw Hill Financial

    McGraw Hill Financial (NYSE: MHFI) is a leading financial intelligence company providing the global capital and commodity markets with independent benchmarks, credit ratings, portfolio and enterprise risk solutions, and analytics. The Company’s iconic brands include: Standard & Poor’s Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL, JD Power, and McGraw Hill Construction. The Company has approximately 17,000 employees in 27 countries. Additional information is available at www.mhfi.com.

     

    Media Relations Contacts

    Ellen Wang; Public Relation Supervisor; JD Power Asia Pacific; Shanghai, 200040 China; +86 21 2208 0831; [email protected]

    John Tews; Director, Media Relations; JD Power; Troy, Michigan 48083 USA; 001 248 680 6218; [email protected]

    No advertising or other promotional use can be made of the information in this release without the express prior written consent of JD Power. www.jdpower.com/corporate.

     
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    [1] LMC Automotive forecasts a total of 524 passenger vehicle models with a sales volume of 100 units and above. Import cars are included.

    [2] Among the 12 segments examined in this year’s study, 10 are award-eligible. Eligibility requires a minimum of four models with sufficient samples, and at least one model performing above the segment average.  

     

  • 2013 India Initial Quality Study (IQS)

    Vehicle Buyers in India Migrate to Higher-Quality Brands

    2013-11-28

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    SINGAPORE:28 November 2013 — New-vehicle buyers in India are more frequently choosing to purchase vehicles with fewer initial quality problems, according to the JD Power Asia Pacific 2013 India Initial Quality StudySM (IQS) released today.

    The study finds that the sales volumes of automakers that have quality above-industry-average initial quality have increased by an average of 6 percent since 2011. In contrast, automakers whose customers report more quality problems than average have experienced an 8 percent decline in sales during the same period. Moreover, the shift toward purchasing above-industry-average quality vehicles is more pronounced among experienced/repeat buyers, with 27 percent choosing higher quality vehicles during the same period.

    “With quality being one of the key drivers for purchasing vehicles, automakers need to focus on achieving exceptional quality levels,” said Mohit Arora, executive director at JD Power Asia Pacific, Singapore. “Manufacturers that are able to consistently deliver a high level of quality may be able to garner much higher growth in sales, even in today’s challenging economic environment. On average, sales volume among vehicles that ranked highest in their segment in 2013 has more than doubled since 2011.”

    The study, now in its 17th year, measures problems owners experience with their new vehicle during the first two to six months of ownership. The study examines more than 200 problem symptoms covering eight vehicle categories (listed in order of frequency of reported problems): engine and transmission; vehicle exterior; driving experience; HVAC; features, controls and displays; vehicle interior; seats;and audio, entertainment and navigation. All problems are summarized as the number of problems per 100 vehicles (PP100). Lower PP100 scores indicate a lower rate of problem incidence and therefore higher initial quality.
     
    Overall initial quality in India averages 115 PP100 in 2013, an improvement from 120 PP100 in 2012. HVAC is the only category with a year-over-year increase in the number or reported problems.
     
    “Given the extreme summer heat in most parts of India, the HVAC system is widely used in vehicles,” said Arora. “Therefore, an efficient and reliable system is important and focusing on reducing related problems–such as rear seat AC effectiveness—will likely go a long way in lifting owner perceptions of initial quality.”
     
    The study finds that vehicle owner expectations regarding potential quality issues they may experience have a strong bearing on model advocacy. Among vehicle owners who experience fewer problems than expected, 79 percent say they “definitely would” recommend their model to family and friends, compared with 27 percent among those who experience more problems than expected.

    Honda and Toyota each have three models that rank highest in their respective segments. Honda models receiving awards are the Brio (upper compact segment); Amaze (entry midsize); and Honda City (midsize). Toyota receives awards for the Innova (MUV/ MPV); Corolla Altis (premium midsize); and Fortuner (SUV).

    Hyundai Santro ranks highest for the second consecutive years in the compact car segment. Maruti Suzuki’s Alto 800 (entry compact) and Swift (premium compact) rank highest for the second consecutive year in their respective segments.

    The 2013 India Initial Quality Study (IQS) is based on evaluations from 9,070 owners who purchased a new vehicle between November 2012 and July 2013. The study includes 74 vehicle models from 17 makes. The study was fielded from May to September 2013 in 25 cities across India.
     

    About JD Power Asia Pacific

    JD Power Asia Pacific has offices in Tokyo, Singapore, Beijing, Shanghai and Bangkok that conduct customer satisfaction research and provide consulting services in the automotive, information technology and finance industries. Together, the five offices bring the language of customer satisfaction to consumers and businesses in Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Taiwan and Thailand. Information regarding JD Power Asia Pacific and its products can be accessed through the Internet at www.jdpower.com. Media e-mail contact: [email protected]

    About JD Power and Advertising/Promotional Rules http://www.jdpower.com/about/index.htm

    About McGraw Hill Financial www.mhfi.com
     

    Media Relations Contacts

    XingTi Liu; JD Power Asia Pacific; 08-Shenton Way, #44-02/03/04; Singapore, 068811; Phone +65-67338980; [email protected]

    John Tews; Director, Media Relations; JD Power; Troy, Michigan 48083 USA; 001 248 680 6218; [email protected]

    No advertising or other promotional use can be made of the information in this release without the express prior written consent of JD Power. www.jdpower.com
     

    Follow us on Twitter @jdpower 

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  • 2013 U.S. Consumer Financing Satisfaction Study

    Automotive Customer Financing Satisfaction Is Driven by Servicing Experience and Onboarding Process Excellence

    1970-01-01

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    WESTLAKE VILLAGE, Calif.: 25 November 2013 — Lenders that provide excellence in the servicing and onboarding experiences from the beginning of the loan or lease process set the stage for customer satisfaction throughout the financing duration, according to the JD Power 2013 U.S. Consumer Financing Satisfaction StudySM released today. 

     

    The study measures customer satisfaction in three key factors of the new-vehicle financing experience: billing and payment process; website; and phone contact. The study is conducted across two types of vehicle segments: luxury and mass market.

     

    “When you consider that most consumers finance indirectly with a lender and the only face-to-face contact a lender may have with a customer is at the point of the vehicle purchase or lease with the finance manager at the dealership, first impressions really matter,” said Mike Buckingham, senior director of the automotive finance practice at JD Power. “It’s extremely important for lenders to get the servicing experience right from the start by providing a superior welcome letter and first billing statement that are rich with information to begin the onboarding process. This provides a solid foundation for continued customer satisfaction.”

    KEY FINDINGS

    • While dealer recommendations remain the most critical driver of lender choice (48% luxury and 50% mass market), nearly one-fourth (24%) of luxury customers and nearly to one-third (32%) of mass market customers consider multiple lenders before selecting their finance provider. 
    • Overall satisfaction is higher for captive lenders than for non-captive lenders. Luxury segment captive lenders score 851 (on a 1,000-point scale), compared with 793 for non-captive lenders. Mass Market segment captive lenders score 836, compared with 805 for non-captive lenders. 
    • Satisfaction is higher when lenders provide onboarding information that customers completely understand, compared to when they do not provide clear information (+131 points in the luxury segment and +115 points in the mass market segment). Providing tools for customers to self-manage their account, particularly setting up auto-payments, increases satisfaction more than 150 points in the luxury and mass market segments (+157 points and +152 points, respectively). 
    • There is a relationship between higher levels of overall satisfaction and future intent, with 95 percent of highly satisfied automotive financing customers (overall satisfaction scores of 800 and above), indicating they are likely to choose their lender again. 
    • Overall satisfaction among automotive financing customers in the luxury segment is 835, compared with 820 among those in the mass market segment.

    Rankings:

     

    Luxury Segment

    Lincoln Automotive Financial Services ranks highest with a score of 875 and performs well in all factors,   followed by BMW Financial Services with 872 and Lexus Financial Services with 860. 

    Mass Market Segment

    Kia Motors Finance ranks highest with a score of 851 and performs well in billing and payment process and website, followed closely by Volkswagen Credit with 849 and Hyundai Motor Finance with 848.

     

    The 2013 U.S. Consumer Financing Satisfaction Study is based on responses from 12,741 new-vehicle purchasers or lessees who completed a vehicle loan or lease. The study includes new vehicles financed in model years 2012 and 2013. The study was fielded between September and October 2013.


     

  • November 2013 Monthly Automotive Sales Forecast

    Consumer Spending on New Vehicles to Hit Record Levels for Month of November

    2013-11-21

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    WESTLAKE VILLAGE, Calif.: 21 November 2013 — U.S. consumers are expected to spend more than $30 billion on new vehicles in November, a historic high for the month, with light-vehicle retail sales on pace to  exceed 1 million for the month, according to a monthly sales forecast developed jointly by JD Power and LMC Automotive.

    Retail Light-Vehicle Sales

    New-vehicle retail sales in November are expected to reach 1,030,300, a 4 percent increase from November 2012. The November seasonally adjusted annualized rate (SAAR) for retail sales, the most accurate measure of true underlying consumer demand for new vehicles, is projected to be 13.0 million, up from the year-to-date level of 12.8 million. 
    “Consumer demand for new vehicles remains strong,” said John Humphrey, senior vice president of the global automotive practice at JD Power. 
    U.S. Retail SAAR–November 2012 to November 2013
    (in millions of units)
    Source: the Power Information Network® (PIN) from JD Power
    Through the first half of November, the average transaction price of new vehicles is $30,079, an increase of $461 from November 2012. In combination, sales and transaction price growth means that consumers will spend 10 percent more on new vehicles during the month than they did in November 2012, and nearly double the level of November 2008.
    “The level of consumer spending in November is impressive and consistent with trends observed throughout 2013,” said Humphrey. “Indications are that total consumer spending on new vehicles in 2013 will exceed $370 billion, the highest on record and considerably above even pre-recession levels.”

    Total Light-Vehicle Sales

    Total light-vehicle sales in November are expected to reach 1.2 million, a 3 percent increase from November 2012. Selling day adjusted fleet sales are anticipated to account for 16 percent of total sales in November, a 3 percent decline year over year and consistent with the low fleet share throughout 2013.  
    JD Power and LMC Automotive U.S. Sales and SAAR Comparisons

    1 Figures cited for October 2013 are forecasted based on the first 17 selling days of the month.
    2 The percentage change is adjusted based on the number of selling days in the month (27 days in October 2013 vs. 26 days in October 2012).

    Sales Outlook 

    LMC Automotive is holding its forecast for total light vehicle sales in 2013 at 15.6 million units and retail light-vehicle sales at 12.8 million units.
     
    “The sales pace in September and October were plagued by external variables that caused a lower level of demand, so the returning strength in November confirms that the underlying recovery remains intact,” said Jeff Schuster, senior vice president of forecasting at LMC Automotive. “Improvements in the economy and consumer confidence in 2014 will drive stable growth to 16.1 million units for total light-vehicle sales and 13.2 million units for retail light vehicles.”
     

    North American Production

    Year-to-date production in North America through October is up 4 percent from the same period in 2012. Production in October was at 1.6 million units, a 7 percent increase from October 2012. 
    The lower October sales pace, combined with higher production, has led to a 77-day supply, higher than the 60- to 65-day supply normal range.
    “While this level is considered high, it is normal for this time of year as manufacturers hurry to build up inventory at dealerships to meet year-end demand,” said Bill Rinna, senior manager, North American forecasts at LMC Automotive. “Given this, the production pace should not be affected and we are maintaining our volume outlook for 2013 North American production at 16.1 million units.”
    First-quarter production in 2014 is expected to increase 4 percent to 4.2 million units from the same period in 2013. Overall for 2014, LMC Automotive is expecting production volume to grow 3 percent to 16.6 million units.
     

    About JD Power

    JD Power is a global marketing information services company providing performance improvement, social media and customer satisfaction insights and solutions. The company’s quality and satisfaction measurements are based on responses from millions of consumers annually. Headquartered in Westlake Village, Calif., JD Power has offices in North/South America, Europe and Asia Pacific. For more information on car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com. JD Power is a business unit of McGraw Hill Financial.

    About McGraw Hill Financial

    McGraw Hill Financial (NYSE: MHFI) is a leading financial intelligence company providing the global capital and commodity markets with independent benchmarks, credit ratings, portfolio and enterprise risk solutions, and analytics. The Company’s iconic brands include: Standard & Poor’s Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL, JD Power, and McGraw Hill Construction. The Company has approximately 17,000 employees in 27 countries. Additional information is available at www.mhfi.com.

    About LMC Automotive

    LMC Automotive, formerly JD Power Automotive Forecasting, is the premier supplier of automotive forecasts and intelligence to an extensive client base of automotive manufacturer, component supplier, logistics and distribution companies, as well as financial and government institutions around the world. LMC’s global forecasting services encompass automotive sales, production and powertrain expertise, as well as advisory capability. LMC Automotive has offices in the United States, the UK, Germany, China and Thailand and is part of the Oxford, UK-based LMC group, the global leader in economic and business consultancy for the agribusiness sector. For more information please visit www.lmc-auto.com.

    Media Relations Contacts

    John Tews; JD Power; Troy, Mich.; (248) 680-6218; [email protected]
    Emmie Littlejohn; LMC Automotive; Troy, Mich.; (248) 817-2100; [email protected]

    Follow us on Twitter: @JDPower

    No advertising or other promotional use can be made of the information in this release without the express prior written consent of of JD Power or LMC Automotive. www.jdpower.com/corporate www.lmc-auto.com

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  • 2013 Japan Mobile Phone Service Satisfaction Study

    Differences in Satisfaction among the Three Mobile Phone Service Providers Narrow

    2013-11-19

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    TOKYO: 30 October 2013 — The gap in satisfaction scores between the highest- and lowest-performing mobile phone providers in Japan narrows considerably in 2013, according to the JD Power Asia Pacific 2013 Japan Mobile Phone Service Satisfaction StudySM released today.

    The study, now in its 15th year, examines customer satisfaction with their mobile phone service provider across six factors (listed in order of importance): services offered1 (31%); network quality (21%); cost (20%); handset (14%); after-sales service (8%); and dealer/ retailer experience (5%). Overall satisfaction is based on a 1,000-point scale.

    Key Findings

    • Among providers ranked in the study, au ranks highest in overall satisfaction for a second consecutive year.

    • Although the satisfaction gap between the highest- and lowest-ranked providers remains wider in network quality than in the other factors, the gap has decreased sharply from 2012.

    • Users of VoIP application voice communication services experience problems at rates approximately three to six times higher than those who use provider services.

    • The gap in overall satisfaction between the highest- and lowest-ranked providers has narrowed to seven index points in 2013 from 33 points in 2012. At the factor level, the gap between the highest- and lowest-performing providers remains widest in network quality again this year (58-point gap in 2013 vs. 119-point gap in 2012).

    VoIP users experience high rate of problems

    The proportion of smartphone users in Japan has increased to 43 percent from 30 percent in 2012. The usage rates for mail—messages, charts, stamps, etc.—and voice communication services among customers using LINE, Skype and other VoIP applications are 67 percent and 51 percent, respectively.

    The study finds that users of VoIP application voice communication services experience such problems as voice break-up or interruption at rates three to six times higher than those who use provider services. Although many VoIP voice communication services are free, only 25 percent of users indicate having a strong intention to use VoIP application voice communication services, while 64 percent of users indicate having a strong intention to use mobile phone provider voice communication services.

    With a score of 558 points, au ranks highest in overall satisfaction for a second consecutive year and performs particularly well in the services offered and cost factors, on par with 2012. NTT DOCOMO (556 points) ranks second and performs particularly well in network quality and after-sales service, the same as in 2012. Third-ranked SoftBank (551 points) performs particularly well in handset, as in 2012, and in dealer/ retailer experience. (Refer to the JDPower.com Power Circle RatingsTM for the factor scores of each mobile phone service provider: http://japan.jdpower.com/ratings/.)

    The 2013 Japan Mobile Phone Service Satisfaction Study is based on a total of 31,200 responses from individual users of mobile phones in 10 regions of Japan (Hokkaido, Tohoku, Hokuriku, Kanto, Tokai, Kansai, Chugoku, Shikoku, Kyushu and Okinawa). This survey was conducted by Internet in July 2013.

    About JD Power Asia Pacific

    cJD Power Asia Pacific has offices in Tokyo, Singapore, Beijing, Shanghai and Bangkok that conduct customer satisfaction research and provide consulting services in the automotive, information technology and finance industries. Together, the five offices bring the language of customer satisfaction to consumers and businesses in China, India, Indonesia, Japan, Malaysia, Philippines, Taiwan and Thailand. Information regarding JD Power Asia Pacific and its products can be accessed through the Internet at japan.jdpower.com. Media e-mail contact: [email protected]

    About JD Power

    JD Power is a global marketing information services company providing performance improvement, social media and customer satisfaction insights and solutions. The company’s quality and satisfaction measurements are based on responses from millions of consumers annually. Headquartered in Westlake Village, Calif., JD Power has offices in North/South America, Europe and Asia Pacific. For more information on car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com. JD Power is a business unit of McGraw Hill Financial.

    About McGraw Hill Financial

    McGraw Hill Financial (NYSE: MHFI) is a leading financial intelligence company providing the global capital and commodity markets with independent benchmarks, credit ratings, portfolio and enterprise risk solutions, and analytics. The Company’s iconic brands include: Standard & Poor’s Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL, JD Power, and McGraw Hill Construction. The Company has approximately 17,000 employees in 27 countries. Additional information is available at www.mhfi.com. 

    Follow us on Twitter: @JDPower

    No advertising or other promotional use can be made of the information in this release without the express prior written consent of JD Power. www.jdpower.com/corporate

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  • 2013 Malaysia Initial Quality Study (IQS)

    New-Vehicle Quality in Malaysia Improves Significantly for the Fourth Consecutive Year

    2013-11-15

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    SINGAPORE: 15 November 2013 — Overall new-vehicle initial quality in Malaysia improves significantly for the fourth consecutive year, according to the JD Power Asia Pacific 2013 Malaysia Initial Quality StudySM (IQS) released today.

    The study, now in its 11th year, examines new-vehicle quality during the first two to six months of ownership. The study measures 228 problem symptoms covering eight vehicle components: vehicle exterior; driving experience; features/ controls/ displays; audio/ entertainment/ navigation; seats; HVAC; vehicle interior; and engine/ transmission. The overall initial quality score is determined by problems reported per 100 vehicles (PP100), with a lower rate of problem incidence indicating higher quality.

    Overall initial quality in Malaysia averages 88 PP100 in 2013, a significant improvement from 111 PP100 in 2012, and 124 PP100 in 2011. Initial quality has improved from 2012 in all eight problem components, with driving experience and engine/ transmission posting the largest improvements at 7.0 PP100 and 5.8 PP100, respectively.

    The most common problems reported by new-vehicle owners in 2013 are front doors hard to open/ close; excessive wind noise; rear side doors hard to open and close; brakes are noisy; and air-conditioner doesn’t get cold fast enough. 

    “While it’s critical for automakers to understand the problems experienced by new-vehicle owners for precise quality improvement activities, it’s also imperative that they communicate to consumers the work they are doing to improve the quality of their vehicles,” said Rajaswaran Tharmalingam, Malaysia country manager for JD Power Asia Pacific, Singapore. “Communicating improved overall quality highlights the advances made across the industry.”

    More than one-half (51%) of owners who are “delighted” or “pleased” with their overall vehicle quality (providing ratings of eight or higher on a 10-point scale) say they “definitely would” recommend the model they purchased to family and friends, compared with only 16 percent of those who are “indifferent” or “disappointed” (providing ratings of seven or below). 

    “The automotive market in Malaysia is becoming increasingly competitive with a rising number of new vehicles, making it essential for brands to be able to meet the changing competitive landscape with high-quality cars and light trucks,” said Tharmalingam. “The continued improvement in quality across the industry is encouraging, but it is equally important that automakers continue to focus on quality.”

    2013 Malaysia IQS Ranking Highlights

    Among the 65 models examined in the study, two Toyota models and one model each from Ford and Mitsubishi rank highest in their respective segments.

    The Toyota Avanza ranks highest in the MPV/ Van segment for a fourth consecutive year, with a score of 52 PP100. The Toyota Innova (62 PP100) ranks second, followed by the Perodua Alza (70 PP100). 

    In the entry midsize car segment, the Ford Fiesta ranks highest with a score of 57 PP100. The Honda City ranks second (58 PP100) and the Nissan Almera ranks third (64 PP100).

    In the midsize car segment, the Toyota Corolla Altis ranks highest with a score of 50 PP100. The Proton Inspira ranks second (64 PP100), followed by the Honda Civic (74 PP100).

    The Mitsubishi Triton ranks highest in the pickup segment, with a score of 52 PP100, and the Toyota Hilux ranks second with 56 PP100.

    The 2013 Malaysia Initial Quality Study is based on responses from 3,122 new-vehicle owners who purchased their vehicle between August 2012 and May 2013. The study includes 65 passenger car, pickup and utility vehicle models of 16 brands. The study was fielded between February and July 2013.

    About JD Power Asia Pacific

    JD Power Asia Pacific has offices in Tokyo, Singapore, Beijing, Shanghai and Bangkok that conduct customer satisfaction research and provide consulting services in the automotive, information technology and finance industries. Together, the five offices bring the language of customer satisfaction to consumers and businesses in China, India, Indonesia, Japan, Malaysia, Philippines, Taiwan and Thailand. Information regarding JD Power Asia Pacific and its products can be accessed through the Internet at www.jdpower.com. Media e-mail contact: [email protected]

    About JD Power

    JD Power is a global marketing information services company providing performance improvement, social media and customer satisfaction insights and solutions. The company’s quality and satisfaction measurements are based on responses from millions of consumers annually. Headquartered in Westlake Village, Calif., JD Power has offices in North/South America, Europe and Asia Pacific. For more information on car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com. JD Power is a business unit of McGraw Hill Financial.

    About McGraw Hill Financial

    McGraw Hill Financial (NYSE: MHFI) is a leading financial intelligence company providing the global capital and commodity markets with independent benchmarks, credit ratings, portfolio and enterprise risk solutions, and analytics. The Company’s iconic brands include: Standard & Poor’s Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL, JD Power, and McGraw Hill Construction. The Company has approximately 17,000 employees in 27 countries. Additional information is available at www.mhfi.com.

    Media Relations Contacts

    XingTi Liu; JD Power Asia Pacific; 08-Shenton Way, #44-02/03/04; Singapore, 068811; Phone +65-67338980; [email protected]
    John Tews; JD Power; Troy, Mich.; (248) 680-6218; [email protected]

    Follow us on Twitter: @JDPower

    No advertising or other promotional use can be made of the information in this release without the express prior written consent of JD Power. www.jdpower.com/corporate

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