Category: China

Owners Who Switch Tire Brands Most Often Base Their Choice on Personal Brand Preference

2014-09-25

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Shanghai: 26 September 2014 — While the majority of new-vehicle owners who replace one or more of their original equipment tires choose the same brand, those who switch to another tire manufacturer often base their choice on personal brand preference, according to the JD Power Asia Pacific 2014 China New-Vehicle Tire Satisfaction Index (NV-TSI) Study^SM released today.

The study, now in its third year, measures satisfaction among new-vehicle tire owners during the first 12 to 24 months of ownership based on four factors: appearance; durability; ride; and traction/ handling. Owners evaluate the brand of tires they have on their vehicle. The study has been redesigned for 2014 and includes four model-segments: luxury car; mass market car; SUV; and MPV/Mini Van.

Among owners who have had to replace one or more new tires on their vehicle, 79 percent choose the same brand as the original tire. Among owners who change to another tire brand, 21 percent cite personal brand preference as the top reason for switching brands, followed by availability of brand (13%), want longer wear (12%), want better ride (11%) and want better traction (10%).

Among owners who have not replaced their tires, 33 percent say they “definitely would” choose their current tire brand if the need arises.

Vehicle owners who indicate their driving style is “moderate” or “conservative” indicate their personal brand preference as the top reason for deciding whether to replace their tires with a different brand (23% and 27%, respectively). Among vehicle owners who say their driving style is “aggressive,” 28 percent select their replacement tire based on availability, changing their tire brand when the original tire brand is not easy to find and purchase.

“Although the repurchase rate is high for original new-vehicle tire brands, it is essential for tire manufacturers to improve their brand image and accessibility to win back lost customers,” said Dr. Mei Songlin, vice president and managing director at JD Power Asia Pacific, Shanghai.

Key Findings

• A highly satisfying experience with new-vehicle tires drives high repurchase and recommendation rates for the same brand of tire. Among owners who are highly satisfied[1], 40 percent say they “definitely would” choose their current tire brand when replacing their tires, compared with only 26 percent of owners of brands with low satisfaction[2] who say the same.
• The appearance factor has the greatest impact on overall satisfaction across all four vehicle segments. However, the second-highest-weighted factor varies by segment. In the mass market car and SUV segments, the second-highest-weighted factor is ride, while in the luxury car segment it is traction/ handling and in the MPV/ mini van segment it is durability.
• The study finds that 32 percent of vehicle owners experience a problem with their original equipment tires in 2014, with punctures accounting for 54 percent of problems. Stones getting caught in the tread is the second most frequently reported problem (18%), followed by excessive tire road noise (8%).

Study Rankings

Goodyear ranks highest in the luxury car segment (868 on a 1,000-point scale), followed by Michelin (846). In the SUV segment, Goodyear ranks highest (852), followed by Michelin (842) and Pirelli (824).

Michelin ranks highest in the mass market car segment (836). Yokohama ranks second (830) and Goodyear third (823).

In the MPV/ mini van segment, Maxxis ranks highest (794), followed by Giti (743).

The 2014 China New-Vehicle Tire Satisfaction Index Study is based on responses from 13,754 vehicle owners who purchased their vehicle between February 2012 and May 2013 and examines 28 tire brands.  The study was fielded between February and May 2014 in 46 major cities in China.

About JD Power Asia Pacific: www.jdpower.com

About JD Power and Advertising/Promotional Rules www.jdpower.com/about-us/press-release-info

About McGraw Hill Financial www.mhfi.com 

 

New-Vehicle Appeal in China Remains Flat for a Third Consecutive Year, While Vehicle Initial Quality Continues to Improve

2009-11-27

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SHANGHAI: 27 November 2009 – Although automakers in China have made considerable strides in improving new-vehicle quality during the past three years, owner satisfaction with new-vehicle performance and design have remained flat during the same time frame, according to the JD Power Asia Pacific 2009 China Automotive Performance, Execution and Layout (APEAL) Study^SM released today.

Now in its seventh year, the APEAL study is a customer-reported measure of what gratifies owners in China regarding their new vehicle’s performance and design during the first two to six months of ownership. The study examines nearly 100 attributes in 10 vehicle 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 China automotive industry has been undergoing considerable and rapid change recently, as the number of manufacturers and models in the market has grown expansively and manufacturers have attempted to respond to increasing demand. However, despite these changing market conditions, overall owner satisfaction with new-vehicle performance and design has remained flat for the past three years. In 2009, the overall APEAL score averages 799 on a 1,000-point scale, compared with 800 in 2008 and 797 in 2007. In contrast, according to the JD Power Asia Pacific 2009 China Initial Quality Study,SM new-vehicle initial quality in China has improved substantially between 2007 and 2009-by 24 problems per 100 vehicles.

“Rapid evolution of the automotive industry in China has led to intensified competition and heightened customer expectations,” said Katy Wang, senior research manager at JD Power Asia Pacific, Shanghai. “While manufacturers in China have made substantial quality improvements, they will need to put additional effort into product innovation in order to keep pace with these expectations and increase owner satisfaction.”

General Motors Corporation brands receive three segment model awards-more than any other company in the study-for one Buick model and two Chevrolet models. Among nameplates, Honda and Nissan models receive two awards each, while Audi, JAC and Wuling models each receive one award.

The highest-ranked models by segment in 2009 are:

Compact segment: Chevrolet Spark

1. Premium compact segment: JAC Tojoy
2. Entry midsize segment: Nissan Tiida
3. Midsize segment: Nissan Sylphy
4. Lower premium midsize segment: Chevrolet Epica
5. Upper premium midsize segment: Buick Regal
6. Luxury segment: Audi A6L
7. SUV segment: Honda CR-V
8. MPV segment: Honda Odyssey
9. Minivan segment: Wuling Rongguang

Among the 10 segments included in the study, the APEAL score average for the compact vehicle segment declines most notably from 2008, down by 22 points in 2009. Fuel price increases introduced in 2009 have created more discerning and demanding customers in the compact vehicle segment, as car buyers have sought more economical options. For the most part, customer satisfaction with models in this segment has decreased from 2008 due to relatively low satisfaction with engine performance, internal space, vehicle exterior and fuel efficiency.

“Automakers that build and sell models in the compact segment often pursue cost reductions in building these vehicles in order to increase profit margins, but a balance needs to be achieved between managing production costs and providing pleasing vehicle features and technologies,” said Wang. “In order to continue to attract new-vehicle buyers and truly satisfy owners, manufacturers should focus on making improvements in the areas of seat comfort, entertainment systems, engine power and fuel efficiency. According to our research, improvements in these areas would have the greatest positive impact on overall new-vehicle appeal.”

The study finds that providing high levels of new-vehicle appeal has a strong positive impact on owner advocacy and loyalty. Among owners with the highest levels of satisfaction (scores averaging 884 or higher), 53 percent say they “definitely would” recommend their vehicle model to others and 26 percent say they “definitely would” repurchase the same brand. These levels decline to 29 percent and 12 percent, respectively, among owners with lower satisfaction (scores averaging between 799 and 883).

“Creating highly appealing models not only drives recommendation and loyalty rates, but vehicle models with high APEAL scores may benefit from faster sales turnover, less need for cash incentives and higher profit margins on each vehicle sold,” said Dr. Mei Songlin, research general manager at JD Power Asia Pacific, Shanghai. “Building a strong brand image begins with producing models that truly satisfy owners.”

The 2009 China Automotive Performance, Execution and Layout (APEAL) Study is based on evaluations by 12,038 new-vehicle owners who purchased a new passenger vehicle between October 2008 and June 2009. The study was fielded between April and August 2009 in 28 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, India, Indonesia, Japan, Malaysia, Philippines, Taiwan and Thailand. Information regarding JD Power Asia Pacific and its products can be accessed through the Internet at http://www.jdpower.com/. Media e-mail contact: [email protected].

About JD Power and Associates

Headquartered in Westlake Village, Calif., JD Power and Associates is a global marketing information services company operating in key business sectors including market research, forecasting, performance improvement, Web intelligence and customer satisfaction. The company’s quality and satisfaction measurements are based on responses from millions of consumers annually. JD Power and Associates is a business unit of The McGraw-Hill Companies.

About The McGraw-Hill Companies

Founded in 1888, The McGraw-Hill Companies (NYSE: MHP) is a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor’s, McGraw-Hill Education, Platts, Capital IQ, JD Power and Associates, McGraw-Hill Construction and Aviation Week. The Corporation has more than 280 offices in 40 countries. Sales in 2008 were $6.4 billion. Additional information is available at http://www.mcgraw-hill.com/.

 

Chinese Domestic Brands Narrow the Gap with International Brands in Vehicle Dependability

2011-12-16

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SHANGHAI: 16 December 2011 — Chinese domestic brands have narrowed the gap with international brands in vehicle dependability by 34 percent from 2010, according to the JD Power Asia Pacific 2011 China Vehicle Dependability Study^SM (VDS) released today.

Now in its second year, the study measures problems experienced by original owners of vehicles between 13 and 36 months of ownership, and includes 202 different problem symptoms across eight categories: engine and transmission; vehicle exterior; driving experience; features, controls and displays; audio and entertainment; seats; heating, ventilation and cooling (HVAC); and vehicle interior. Overall dependability is determined by the level of problems experienced per 100 vehicles (PP100), with a lower score reflecting higher quality.

In 2011, overall vehicle dependability averages 218 problems per 100 vehicles (PP100), an improvement of 80 PP100 from 2010. The gain is mainly attributable to improvement in the vehicle exterior and engine/transmission categories, with problem levels decreasing by an average of 18 PP100 and 16 PP100, respectively from 2010.

In addition, significant improvement among models in the mini van segment (265 PP100 from 2010) contributes to the industry-wide gain in vehicle dependability. Passenger vehicle models (with mini van segment excluded) show an improvement of 63 PP100 from 2010.

Vehicle dependability among domestic brands has improved by 135 PP100 from 2010 to an average of 309 PP100 in 2011, while international brands have improved by 66 PP100 from 2010 to an average of 177 PP100 in 2011. Chinese domestic brands have narrowed the gap in vehicle dependability with international brands to 132 PP100 in 2011 from 201 PP100 in 2010.

“Understanding vehicle dependability performance is critically important as automakers implement design improvements for the next generation of vehicle models,” says Dr. Mei Songlin, general manager of research services, JD Power Asia Pacific, Shanghai. “It enables automakers to build more reliable vehicles which typically retain higher resale values.”

Chinese domestic brands rank highest in three of the eight award segments. Models from Japanese manufacturers receive six awards:

Compact segment: BYD F0

Premium compact segment: Suzuki Swift

Entry midsize segment: Nissan Livina

Midsize segment: Toyota Corolla EX

Lower premium midsize segment: FAW Besturn B70

Upper premium midsize segment: Nissan Teana and Toyota Camry (in a tie)

SUV segment: Honda CR-V

Mini van segment: Wuling Sunshine

The most frequently reported problems in 2011 are: the engine loses power when air conditioning is turned on; brakes are noisy; windshield wipers or washers are broken or not working properly; excessive fuel consumption; and bad-smelling air from vents.

The study finds that 44 percent of owners indicate they have replaced at least one vehicle component during the past six months. The most frequently replaced components include exterior lights, horns, power window components, clutches and headlight components (Excludes wear items: brake pads, tires and wiper blades).

Frequent component replacements not only increase direct warranty costs for automakers, but also increase the likelihood of customer grievances and diminished brand loyalty.

“Vehicle dependability is an area of concern for vehicle owners and affects their repurchase and recommendation decisions,” says Chris Chen, automotive research manager at JD Power Asia Pacific, Shanghai. “In the China market, we are seeing manufacturers utilizing solutions such as extended warranties and recommending regular maintenance checks to alleviate these concerns and improve customer perceptions.”

Achieving high levels of long-term dependability has a strong positive effect on owner satisfaction, loyalty and advocacy. For example, among owners who indicate that they have experienced no problems with their vehicle, 35 percent say they “definitely will” recommend their vehicle. In contrast, among owners who indicate experiencing more than one problem, this proportion declines to 23 percent.

The 2011 China Vehicle Dependability Study is based on evaluations from 11,676 owners of vehicles purchased between June 2008 and August 2010 and includes 137 models from 51 different brands. The study was fielded between June and September 2011 in 33 cities across China.

JD Power measures customer experiences with vehicle quality at various stages of vehicle ownership. JD Power conducts the Initial Quality Study (IQS) and Automotive Performance, Execution and Layout Study (APEAL) to measure vehicle quality (things gone wrong) and appeal performance (things gone right) during the initial two to six months of vehicle ownership. The JD Power Vehicle Dependability Study (VDS) examines long-term vehicle dependability and reliability between 13 and 36 months of ownership.

JD Power’s self-funded Voice of the Customer syndicated studies evaluate products and services based on actual consumer feedback. The research is designed to help businesses make informed decisions about product and service improvements. Study results are based solely on the opinions of customers, not the opinion of JD Power.

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, Thailand and Vietnam. 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 Associates

Headquartered in Westlake Village, Calif., JD Power and Associates is a global marketing information services company operating in key business sectors including market research, forecasting, performance improvement, Web intelligence and customer satisfaction. The company’s quality and satisfaction measurements are based on responses from millions of consumers annually. For more information on car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com. JD Power and Associates is a business unit of The McGraw-Hill Companies.

About The McGraw-Hill Companies

McGraw-Hill is a leading global financial information and education company that helps professionals and students succeed in the Knowledge Economy. Leading brands include Standard & Poor’s, S&P Capital IQ, S&P Indices, Platts energy information services and McGraw-Hill Education. With sales of $6.2 billion in 2010, the Corporation has approximately 21,000 employees across more than 280 offices in 40 countries. On September 12, 2011, the Corporation announced its intention to separate into two public companies – McGraw-Hill Markets (working name), primarily focused on global capital and commodities markets and McGraw-Hill Education focused on digital learning and education services worldwide. Additional information is available at http://www.mcgraw-hill.com/.

 

Overall Retail Banking Customer Satisfaction Increases in China

1970-01-01

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BEIJING: 10 July 2012 — Customer satisfaction with retail banks in China improves in 2012 due to significant increases in satisfaction with fees and problem resolution, according to the JD Power Asia Pacific 2012 China Retail Banking Satisfaction Study^SM.

Now in its fourth year, the study measures customer satisfaction across six factors: transactions; product offerings; account information; facility; fees; and problem resolution. The study also examines performance-improvement initiatives designed to drive customer loyalty and advocacy.

Overall satisfaction in 2012 has improved by two points to 687 (on a 1,000-point scale) from 2011, after having experienced an eight-point decline in 2010. The overall increase is primarily driven by year-over-year increases in customer satisfaction with fees (+38 points) and transactions (+31 points), as well as satisfaction with problem resolution, improving by 59 points from 2011.

“The cancellation of 34 items regarding service fees, announced in 2011 by the banking regulators, is likely to have influenced the improvement in satisfaction with fees among customers in China,” said Steven Zou, senior manager of financial services at JD Power Asia Pacific. “The banking industry’s efforts to offer transparency in fees and to better align fees with service levels and value have also contributed to the increase in customer satisfaction.” 

The study finds that satisfaction with large commercial banks¹ has increased seven points from 2011, driven by improvement in all six factors. In contrast, satisfaction with shareholder banks has declined by four points, primarily due to a decline in satisfaction with problem resolution and facility.

Shenzhen Development Bank (SDB) ranks highest in overall customer satisfaction with a score of 751 on a 1,000-point scale. SDB is followed in the rankings by China Everbright Bank and China Merchant Bank, respectively.

The 2012 study for the first time ranks banks according to satisfaction among VIP customers².  Shanghai Pudong Development Bank ranks highest in satisfaction among VIP customers (771), followed by China Citic Bank (756) and China Everbright Bank (755).

The study identifies best practices among the highest-performing banks in overall customer satisfaction, which include transparent and reasonable fees; proactive communication regarding new products and services; optimal personal interactions; and short waiting lines.

The highest-performing banks excel in retaining their VIP customers through consistent delivery of key services, such as providing professional and proactive staff to assist these customers, as well as innovative and customized customer services. Satisfaction is 76 points higher among VIP customers who have a one-to-one relationship with their relationship manager. Additionally, satisfaction increases by 101 points when the relationship manager proactively communicates with VIP customers regarding new products or services.

While banks in China are improving satisfaction levels with their customers, there is still a significant gap in overall satisfaction scores between banks in China and banks in the more mature U.S. market (687 vs. 753, respectively).

“Closing performance gaps at the industry level depends on meeting basic customer expectations, such as reducing account and transaction errors; maintaining good appearances at branches; and reducing wait times,” said Zou.

“The first step in improving satisfaction is to eliminate experiences that dissatisfy customers, such as out-of-service ATMs or inaccessible websites,” said Rockwell Clancy, vice president of global financial services at JD Power and Associates. “Only after having built a solid foundation based on meeting basic expectations for defect-free service may banks then strive to differentiate themselves with good relationship managers, sound financial advice, proactive communications, and premium service offerings.”

Clancy advises banks to act on specific key performance indicators (KPIs), which are diagnostic items that have the greatest impact on customer satisfaction. KPIs help banks prioritize and focus their improvement efforts on the “touch points” that are most critical to customers, as well as enable greater efficiency and consistency in service-improvement efforts. The most impactful KPIs include problem prevention; fee notification; proactive communications; and conditions of the bank facility’s exterior and interior. 

Retaining customers and developing loyalty and advocacy involve substantial effort, but provide financial benefits once established. High-performing banks also benefit from higher customer loyalty and repurchase and recommendation rates. Among customers of the highest-performing banks, 44 percent say they “definitely will not” switch to a different bank. In addition, 51 percent of these of customers say they will use other products with the same bank, and 49 percent say they “definitely will” recommend the bank to others. In comparison, among customers of the lowest-performing banks, only 9 percent indicate they “definitely will not” switch; 3 percent say they will use other products from the bank; and 2 percent say they “definitely will” recommend the bank to others. 

The 2012 China Retail Banking Satisfaction Study is based on responses from 6,651 retail banking customers in 16 cities and examines 24 leading banks operating in China. The study was fielded between April and May 2012.

1. Large commercial banks includes Industrial and Commercial Bank of China, China Construction Bank, Agriculture Bank of China, Bank of China, Bank of Communications

2. VIP customers are defined as customers who hold a VIP account with one of the banks examined in this study.  

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 www.jdpower.com. Media email contact: [email protected].

About JD Power and Associates

Headquartered in Westlake Village, Calif., JD Power and Associates 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. For more information on car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com. JD Power and Associates is a business unit of The McGraw-Hill Companies.

About The McGraw-Hill Companies

McGraw-Hill announced on September 12, 2011, its intention to separate into two public companies: McGraw-Hill Financial, a leading provider of content and analytics to global financial markets, and McGraw-Hill Education, a leading education company focused on digital learning and education services worldwide. McGraw-Hill Financial’s leading brands include Standard & Poor’s Ratings Services, S&P Capital IQ, S&P Indices, Platts energy information services and JD Power and Associates. With sales of $6.2 billion in 2011, the Corporation has approximately 23,000 employees across more than 280 offices in 40 countries. Additional information is available at http://www.mcgraw-hill.com/.

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

 

 

Audi and Volkswagen are the Most-Frequently Considered Models in Five out of 10 Vehicle Segments

2013-06-28

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Shanghai: 28 June 2013 — Delivering an outstanding customer experience in the sales process helps automakers and dealers improve their close rates and drives sales performance, with the 10 highest-performing brands in sales satisfaction across both luxury and mass market brands holding an approximately 40 percent share of China retail auto sales, according to the JD Power Asia Pacific 2013 China Sales Satisfaction Index (SSI) Study^SM released today. 

Now in its 14th year, the study measures customer satisfaction with the new-vehicle purchase experience in five factors (in the order of importance): delivery process; sales initiation; deal; dealership facility; salesperson. The study is based on survey responses of new-vehicle owners during the first 2 to 6 months of ownership. The SSI Study has been redesigned in 2013 to focus on providing more actionable insights for the automotive industry¹. 

In addition, 2013 also marks the first year JD Power separates rankings into the two segments—luxury brands and mass market brands—to address the differences in terms of customer expectations.

Overall satisfaction is 649 points (on a 1,000-point scale) in 2013. Satisfaction in the luxury segment averages 665 points and 647 points in the mass market segment. 

Among the six luxury brands² included in the study, Audi scores highest in sales satisfaction at 721 and performs well in all five factors.

Dongfeng Nissan ranks highest in overall satisfaction among the 47 mass market brands³ included in the study, with a score of 732. Following Dongfeng Nissan in the rankings are Beijing Hyundai (715) and   Dongfeng Citroën and Dongfeng Yueda Kia in a tie (703 each).

Among all brands of origin, Korean automakers achieve the highest satisfaction score at 708, which is 59 points higher than industry average. Korean brands also rank highest in all five factors.

Chinese domestic brands lag behind in sales satisfaction with an average score of 599. The gap in SSI satisfaction scores between domestic and international brands has widened to 70 points in 2013. The largest gaps between domestic and international brands are in sales initiation and dealership facility. European and Japanese brands follow with 671 and 669 points, respectively. U.S. brands trail with an average of 638 points in sales satisfaction.

According to LMC Automotive, passenger vehicle sales volume in China reached 6.67 million units in the first five months of 2013. However, competition is increasing in tandem with the market growth. The number of models in the China automotive market is expected to reach 524, approximately 1.8 times that in the U.S. market in 2013. The importance of ensuring customers are satisfied with their purchase experience becomes even greater as automakers and dealers strive to not just close deals, but to also retain customers.

“It is crucial to use the shopping experience as a key point of differentiation in such a highly competitive marketplace, to ensure customers see value beyond price, and to develop a strong relationship for word of mouth and service usage,” said Dr. Mei Songlin, vice president and managing director at JD Power Asia Pacific, Shanghai.

Brands with high SSI scores also lead the industry in terms of sales rate per year and overall sales volume. Makes with high satisfaction (666 points and above) show an average sales of 1,380 units per dealer in 2012, compared with 1,092 units sold by makes with low SSI satisfaction (612 points and below). Among the 53 brands⁴  included in the 2013 study, the 10 highest-performing brands in sales satisfaction command a share of approximately 40 percent in sales volume⁵.

High sales satisfaction scores have a significant impact not only on repurchase rates of the same brand, but also on customer loyalty toward dealer services. Among owners of makes achieving high SSI scores, 14 percent have purchased the same make, double the ratio of repurchase among those who own makes with low sales satisfaction (7%). More than one-half of owners of makes (52%) in the high satisfaction category indicate they would recommend their dealer. This drops to 21 percent among owners of makes in the low satisfaction category.

The study shows that dealers may improve sales satisfaction by identifying and meeting individual customer needs. Among the Key Performance Indicators (KPIs) measured in the study, being accompanied throughout the dealer visit and being contacted after the sale to make sure the purchase experience was satisfactory each have a significant impact on a customer’s overall perception of their experience.

“Dealers may be able to deliver a better experience when they focus more on communicating one-on-one with customers to understand their individual needs and preferences and create an emotional bond with them at different touch points,” said Tony Zhou, director of automotive research at JD Power Asia Pacific, Shanghai.

In the 2013 study, approximately 40 percent of customers indicate they don’t know what model to buy before visiting the dealership. According to Zhou, dealers may be able to improve their close rate by influencing the decisions of these vehicle shoppers by identifying their needs and explaining the vehicle’s features in a compelling manner. 

The 2013 China Sales Satisfaction Index (SSI) Study is based on survey responses from 14,462 vehicle owners who purchased a new vehicle between July 2012 and February 2013. The study was fielded from January through April 2013 in 46 major cities in China.

The China Sales Satisfaction Index (SSI) Study is one of eight consumer-based benchmark studies conducted by JD Power Asia Pacific in China. Other 2013 studies conducted by JD Power Asia Pacific include:

• The China Customer Satisfaction Index (CSI) Study, which examines satisfaction with the after-sales service experience among vehicle owners between 12 and 24 months of ownership, will be released in late July.
• The China New-Vehicle Intender Study (NVIS), which examines customers’ pre-purchase perceptions and considerations, will be released in late August.
• The China Original Equipment Tire Satisfaction Index (OE-TSI) Study, which measures customer satisfaction with original equipment tires, will be released in August.
• The China Manufacturer Website Evaluation Study (MWES), which measures the effectiveness of OEM websites on the basis of the Voice of the Customer, will be released in late September.
• The China Initial Quality Study (IQS), which measures problems experienced by new-vehicle owners during the first two to six months of ownership, will be released in October.
• The China Automotive Performance, Execution and Layout (APEAL) Study, which measures what excites and delights owners about their new vehicle’s performance and design during the first two to six months of ownership, will be released in November.
• The China Vehicle Dependability Study (VDS), which evaluates overall vehicle dependability during the first 25-36 months of ownership, will be published in December.

1. Note: Due to the study redesign, the SSI index scores for the 2013 study cannot be compared with index scores from previous years.
2. Note: There are six luxury brands with sufficient samples included in the study.
3. Note: There are  47 mass market brands with sufficient samples included in the study.
4. Note: There are 53 brands with sufficient samples included in the study. The study examines 72 brands in total.
5. Source: JD Power 2013 China Sales Satisfaction Index (SSI) Study^SM and LMC Automotive.

 

Purchase Consideration for Chinese Domestic Models Has Increased Notably

2013-08-30

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SHANGHAI: 30 August 2013 — The percentage of consumers in China who intend to purchase a new Chinese brand vehicle has increased significantly, primarily driven by the increase of Tier 2 and Tier 3 cities, according to the JD Power Asia Pacific 2013 China New-Vehicle Intender Study ^SM (NVIS) released today.

The study, now in its fifth year, examines pre-purchase perceptions and considerations rate among consumers in China who intend to purchase a new vehicle within the next 12 months. The study is designed to provide key consumer insights by examining brand awareness, purchase consideration, rejection reasons and media usage, as well as consumer perceptions of various models among these new-vehicle intenders. A total of 62 vehicle brands and 177 models in 11 vehicle segments are included in the 2013 study.

European brands are most popular among vehicle intenders across 67 cities examined in the study. More than 30 percent of vehicle intenders (31%) in China consider to purchase a European model. European brands as a whole receive the highest consideration rate among all brands of origins,

The proportion of new-vehicle intenders who indicate they would consider purchasing a model from a Chinese domestic automaker has increased to 27 percent in 2013 from 20 percent in 2012. 

Domestic brands are particularly popular among consumers in Tier 2 and Tier 3 cities, where they are considered by 28 and 42 percent of new-vehicle intenders, respectively.

In comparison, approximately 16 percent of consumers in Tier 1 cities consider purchasing a domestic model. Consumers in Tier 1 cities don’t perceive Chinese domestic brands as an accurate reflection of their social status.

“Tier 2 and Tier 3 cities will be the new market in the future, as the Chinese automotive industry evolves,” said Tony Zhou, director of automotive research at JD Power China, Shanghai “It’s vital for manufactures to increase their effectiveness by investing marketing tools and choose right channels and format in advertisement, to influence local customers in Tier 2 and Tier 3 cities.”

The consideration rates for European and Japanese brands among China have declined by 4 percent and 6 percent, respectively.

The study observes that the consideration rate for Japanese models has been declining continuously to 18 percent in 2013 from 32 percent in 2009. American brands receive a 15 percent consideration rate.

The study finds that the Internet and TV are the most effective channels for connecting with and influencing new-vehicle intenders, with the Internet being the most influential communication channel. Approximately 61 percent of new-vehicle intenders obtain brand information from the Internet, while 54 percent gain information through TV. 

Among Chinese brands, the Roewe 550 (lower premium midsize segment) and Chery QQ (compact) have the highest consideration rates in their respective segments. 

Audi models have the highest consideration rates in the entry luxury, luxury and luxury SUV segments, while Volkswagen models have the highest consideration rates in the entry midsize and SUV segments.

Models with the highest rates of consideration in each vehicle segment¹ are:

• Compact: Chery QQ
• Premium compact: Chevrolet Sail
• Entry midsize: Volkswagen Jetta
• Midsize: Buick Excelle
• Lower premium midsize: Roewe 550
• Upper premium midsize: Honda Accord
• Entry luxury: Audi A4L
• Luxury: Audi A6L
• SUV: Volkswagen Tiguan
• Luxury SUV: Audi Q5

The consideration rates for midsize and SUV models have increased year over year by 5 and 6 percent, respectively, while the consideration rate for premium midsize models has decreased by 4 percent from 2012.

Quality and safety, performance and configuration, and brand and image are the top three criteria for consideration among new-vehicle intenders in China.

The study also measures brand influence score, which is familiarity and favorability of automotive brands among new-vehicle intenders in China. BMW achieves a Brand Influence Score of 679 on a 1,000-point scale, followed by Mercedes-Benz (670 score), FAW-Volkswagen (649), Audi (629) and Shanghai Volkswagen (621).

The 2013 China New Vehicle Intender Study is based on responses from 6,809 new-vehicle intenders in 67 cities. The study was fielded from April to June 2013.

The China New-Vehicle Intender Study (NVIS) is one of eight consumer-based benchmark studies conducted by JD Power Asia Pacific in China. Other 2013 studies conducted by JD Power Asia Pacific include:

• The China Sales Satisfaction Index (SSI) Study, which measures satisfaction with the new-vehicle sales process, was released in late June.
• The China Customer Satisfaction Index (CSI) Study, which examines satisfaction with the after-sales service experience among vehicle owners between 12 and 24 months of ownership, was released in late July.
• The China Original Equipment Tire Satisfaction Index (OE-TSI) Study, which measures customer satisfaction with original equipment tires, will be released in September.
• The China Manufacturer Website Evaluation Study (MWES), which measures the effectiveness of OEM websites on the basis of the Voice of the Customer, will be released in late September.
• The China Initial Quality Study (IQS), which measures problems experienced by new-vehicle owners during the first two to six months of ownership, will be released in October.
• The China Automotive Performance, Execution and Layout (APEAL) Study, which measures what excites and delights owners about their new vehicle’s performance and design during the first two to six months of ownership, will be released in November.
• The China Vehicle Dependability Study (VDS), which evaluates overall vehicle dependability during the first 25-36 months of ownership, will be published in December.

^1. MPV segment is not shown among the nameplates due to small sample.

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 e-mail 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.

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.

 

A Superior Website Experience Helps Boost Test Drive and Purchase Intention

2013-09-17

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SHANGHAI: 17 September 2013 – Intention to take a test drive and to purchase a particular vehicle are higher when vehicle manufacturers provide a satisfying website experience for new-vehicle shoppers in China, according to the JD Power Asia Pacific 2013 China Brand Website Evaluation Study^SM (BWES) released today.

The inaugural study measures the usefulness of automotive manufacturer websites at the brand level during the new-vehicle shopping process by examining four key measures (in order of importance): information and content; appearance; speed; and navigation.

Overall satisfaction with automotive brand websites averages 730 on a 1,000-point scale. Among all four measures examined in the study, speed achieves the highest satisfaction score at 746, while satisfaction is lowest for information and content at 720.

The study finds that providing a highly satisfying website experience for new-vehicle shoppers leads to high rates of intention to test drive and purchase a particular vehicle. Approximately 12 percent of new-vehicle shoppers in the high satisfaction tier indicate their test drive intention become “much higher” and 10 percent indicate their purchase intention become “much higher” after visiting the websites, compared with 7 percent and 6 percent, respectively, among shoppers in the low satisfaction tier.

Automaker websites are used by new-vehicle shoppers as an important information source, with 47 percent of shoppers using them to compare vehicles and 28 percent using them during the purchase decision process. Approximately one-half of new-vehicle shoppers use portal websites as their information source when considering purchasing a vehicle. Car verticals also play an important role during the comparison (61%) and decision-making (34%) stages.

“In a market with proliferating vehicle brands and media choices, effectively engaging shoppers before they actually make a purchase decision is important for both traffic to dealerships and purchase intentions,” said Dr. Mei Songlin, vice president and managing director, JD Power China, Shanghai. “The ability of new-vehicle shoppers to find information on a website easily and quickly has a direct impact on their decision to continue to shop that vehicle.”

The study identifies key attributes that impact overall satisfaction with the website experience. Those with the greatest impact are the speed of the page; visual effects; ability to locate a nearby dealer; and the ability to compare vehicles and prices.  Website speed is crucial, as opening a webpage within 5 seconds will significantly drive overall customer satisfaction.

“Focus on these attributes may help automakers deliver a more satisfying website experience,” said Mei.

There is a clear inclination to use online shopping during the purchase process, as 41 percent of new-vehicle shoppers indicate they intend to use the Internet when they make their final vehicle purchase choice, as well as when they select their vehicle pick-up option. Additionally, 37 percent of shoppers intend to use the Internet for price negotiation and 23 percent intend to use it to check auto financing services and to provide a down payment.

In contrast to the positive side of using the Internet to shop for a new vehicle, shoppers indicate having some concerns regarding online shopping, such as inconsistency among the advertisements on websites; a perceived lack of customer rights protection; and the security of making online payments. New-vehicle shoppers also indicate a strong need for sufficient information related to entertainment systems and fuel efficiency.

“Finding the right balance of content, ease of navigation and site speed is what ultimately drives new-vehicle shopper satisfaction with OEM websites,” said Tony Zhou, director of automotive research at
JD Power China, Shanghai. “Comments from key opinion leaders and specific information related to loan services will likely help boost stickiness to websites.”

FAW Toyota’s website ranks highest in overall satisfaction with a score of 770, performing particularly well in all four measures. BMW ranks second with a score of 761, and Lexus ranks third with 758. 

The 2013 China Brand Website Evaluation Study is conducted via online from 4,564 new-vehicle shoppers who indicate they will be in the market for a new vehicle within the next 12 months and are invited to visit the website of one of the 30 intended brands. The study was fielded in June and July 2013 in 59 major cities in China.

The Brand Website Evaluation Study (BWES) is one of eight consumer-based benchmark studies conducted by JD Power Asia Pacific in China. Other 2013 automotive related studies conducted in China include:

• The China Sales Satisfaction Index (SSI) Study, which measures satisfaction with the new-vehicle sales process, was released in late June.
• The China Customer Satisfaction Index (CSI) Study, which examines satisfaction with the after-sales service experience among vehicle owners between 12 and 24 months of ownership, was released in late July.
• The China New-Vehicle Intender Study (NVIS), which examines customers’ pre-purchase perceptions and considerations, was released in late August.
• The China Original Equipment Tire Satisfaction Index (OE-TSI) Study, which measures customer satisfaction with original equipment tires, will be released in late September.
• The China Initial Quality Study (IQS), which measures problems experienced by new-vehicle owners during the first two to six months of ownership, will be released in October.
• The China Automotive Performance, Execution and Layout (APEAL) Study, which measures what excites and delights owners about their new vehicle’s performance and design during the first two to six months of ownership, will be released in November.

The China Vehicle Dependability Study (VDS), which evaluates overall vehicle dependability during the first 25-36 months of ownership, will be released in December.

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 e-mail 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.

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.

 

A Highly Satisfying Experience with New Vehicle Tires Drives High Repurchase Rate for the Same Brand of Tire

2013-09-26

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SHANGHAI: 26 September 2013 — Vehicle owners who are highly satisfied with the tires equipped on their new vehicles  are likely to repurchase the same brand when replacing their tires, according to the JD Power Asia Pacific 2013 China New Vehicle Tire Satisfaction Index (NVTSI) Study^SM released today.

The study measures satisfaction among new vehicle tire owners during the first 12 to 24 months of ownership based on four factors: appearance; durability; ride; and traction/handling. The brand ranks are based on consumer experiences with the brand of tires they report having on their vehicle.

The study finds that high customer satisfaction with tire on their new vehicle equates to more after-sales business for dealers. When owners are satisfied with their new vehicle tires, they are more likely to repurchase the same tire brand in the future, compared with when they are less satisfied with their new vehicle tires. Among owners who are highly satisfied (795 points and higher), 47 percent say they “definitely would” choose their current tire brand when replacing their tires. When overall satisfaction is low (749 points or less), only 27 percent of owners say they “definitely would” repurchase the same brand of tire.

Overall customer satisfaction with new vehicle tires averages 779 points on a 1,000-point scale. Of the four factors examined in the study, satisfaction is highest in appearance (793), followed by durability (786). Satisfaction is lowest in traction/handling (766).

The study shows that satisfaction drops significantly when owners experience problems with their new vehicle tires. Satisfaction averages 782 among owners who experience one tire problem; however, satisfaction declines to 753 among those who experience two problems and to 690 among those who experience four problems.

Approximately 30 percent of owners experience damage to their tires in 2013, with punctures topping the list of 19 problems examined in the study. Stones getting caught in the tread is the second-most-frequently experienced problem, followed by road hazard damage.

“Tires are one of the most frequently replaced components on vehicles,” said Dr. Mei Songlin, vice president and managing director, JD Power China, Shanghai. “Although consumers don’t have a choice with the new vehicle tires on the point of car delivery, they have a wide range of choice when replacing them. Therefore, a superior customer experience with the first tires may have a positive impact on their decision with replacement tires.”

Pirelli ranks highest in customer satisfaction among the 19 tire brands examined in the study, with a score of 861. Pirelli performs particularly well in all factors. Michelin ranks second (822), followed by Goodyear (811), Dunlop (809) and Bridgestone (808).

The study finds that the satisfaction is highest among vehicle owners in the East (787) and North (785) regions of China, while satisfaction is lowest among those in the West (769) and South (766) regions.

The study is based on responses from 10,834 new-vehicle owners, who purchased their vehicle between February 2011 and May 2012. The study was fielded between February and May 2013 in 43 major cities in China, and includes 206 vehicle models.

The China New Vehicle Tire Satisfaction Index Study is one of eight consumer-based benchmark studies conducted by JD Power Asia Pacific in China. Other 2013 automotive-related studies conducted in China include:

• The China Sales Satisfaction Index (SSI) Study, which measures satisfaction with the new-vehicle sales process, was released in late June.
• The China Customer Service Index (CSI) Study, which examines satisfaction with the after-sales service experience among vehicle owners between 12 and 24 months of ownership, was released in late July.
• The China New-Vehicle Intender Study (NVIS), which examines customers’ pre-purchase perceptions and considerations, was released in late August.
• The China Automotive Brand Website Evaluation Study (BWES), which measures the effectiveness of brand websites on the basis of the Voice of the Customer, was released in mid-September.
• The China Initial Quality Study (IQS), which measures problems experienced by new-vehicle owners during the first two to six months of ownership, will be released in October.
• The China Automotive Performance, Execution and Layout (APEAL) Study, which measures what excites and delights owners about their new vehicle’s performance and design during the first two to six months of ownership, will be released in November.
• The China Vehicle Dependability Study (VDS), which evaluates overall vehicle dependability during the first 25-36 months of ownership, will be released in December.

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.

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.

 

Bank of Communications Ranks Highest among State-Owned Banks, While China Everbright Bank Ranks Highest among Shareholder Banks

1970-01-01

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Shanghai: 22 July 2013 — Overall customer satisfaction with both state-owned banks and shareholder banks in China improves significantly in 2013, according to the JD Power Asia Pacific 2013 China Retail Banking Satisfaction Study^SM.

Now in its fifth year, the study measures customer satisfaction across six factors: transactions; product offerings; account information; facility; fees; and problem resolution. The study also examines performance-improvement initiatives designed to drive customer loyalty and advocacy.

Overall customer satisfaction with retail banks averages 761 points (on a 1,000-point scale)—a 74-point increase from 2012. Satisfaction with state-owned banks increases by 76 points to 746 in 2013, while satisfaction with shareholder banks improves by 61 points to 794.

“The dramatic improvement in customer satisfaction is attributed to the concerted efforts across the industry in creating transparency and improving the customer experience,” said Steven Zou, director of financial services at JD Power Asia Pacific. “The ‘Seven Prohibit’ and ‘Four Transparency’ policies announced by the China Banking Regulatory Commission in 2012 have effectively helped banks standardize their processes in dealing with customers, and in turn have improved customers’ understanding and perception about their retail bank’s fees, services and values.”

Improvement in facility, product offerings, account information, transactions and problem resolution have also contributed to the overall increase in satisfaction. The application of mobile devices in advance cash withdrawal service and automatic teller machines have enhanced the customer experience. Overall satisfaction among retail banking customers in China who use self-service channels is 786 points, 51 points higher than among those who do not use self-service channels.

Among state-owned banks, Bank of Communications ranks highest in overall customer satisfaction with 787 points (a 92-point increase from 2012) and performs well in all six factors. Bank of Communications is the most improved bank among all banks examined in the 2013 study.

China Everbright Bank ranks highest in overall customer satisfaction among shareholder banks, with a score of 820, performing particularly well in fees, product offerings and facility. China Everbright Bank performs well in ensuring ATM functionality, transaction speed and range, ease of use and reliability and security. Following China Everbright Bank are China Minsheng Bank (805) and Shanghai Pudong Development Bank (795).

According to the study, consumer rights protection, transparency of fees and risks and effective problem resolution drive customer satisfaction and loyalty. However, 29 percent of customers indicate they were not adequately notified regarding new product risks, while 39 percent indicate they did not receive notification regarding fees.

Customer satisfaction with the basic transactions of depositing and withdrawing money has been identified as one key improvement area. These transactions are the most frequently used services at bank branches, yet yield the second lowest satisfaction among all transaction types, largely due to long waiting time and lengthy transaction time. Satisfaction drops by a significant 74 points when the waiting time for making a deposit is 10 minutes; however, 51 percent of customers indicate that they waited longer. Satisfaction also declines when customers wait more than five minutes to make cash withdrawals, with 43 percent of customers waiting longer than that for completing a cash withdrawal.

“China has clearly moved a long way in delivering a superior customer satisfaction with retail banking services,” said Rockwell Clancy, vice president of global financial services at JD Power. “Yet there is still a tremendous opportunity for competitors to differentiate themselves in bringing greater uniformity to processes and practices that affect customers, being absolutely transparent about the pricing and risks of their products, and resolving customer complaints more effectively.”

The 2013 China Retail Banking Satisfaction Study is based on responses from 9,267 retail banking customers in 20 cities and examines 21 leading banks operating in China. The study was fielded between April and May 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, 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 e-mail 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 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), a financial intelligence company, is a leader in credit ratings, benchmarks and analytics for the global capital and commodity markets. Iconic brands include Standard & Poor’s Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL, JD Power, McGraw-Hill Construction and Aviation Week. The Company has approximately 17,000 employees in 27 countries. Additional information is available at http://www.mhfi.com.

 

JD Power Presents Awards to Highest Performers in China Automotive Customer Satisfaction Studies

2014-04-19

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Shanghai: 19 April 2014 — JD Power recognized the highest-performing automotive companies in its 2013 China customer satisfaction studies at an award ceremony held on April 19, 2014, in Beijing.

Senior executives from automotive companies and leading media outlets attended the ceremony, where Finbarr O’Neill, president of JD Power, presented awards to the highest-ranked automakers.

“I am pleased to present awards to the highest-performing manufacturers in recognition of their outstanding achievements in delivering a delightful experience to their customers,” said O’Neill. “It’s important to note that the findings of these studies are based solely on the evaluations provided by verified vehicle owners in China.”

O’Neill commended the Chinese automotive industry for its significant progress in delivering services and products that delight customers, yet urged automakers to make stronger efforts in meeting the needs and expectations of consumers in order to sustain growth in this important market.

The passenger-vehicle market in China is experiencing an unprecedented level of competition, with 543 models vying for the attention of consumers in 2014.1 High levels of satisfaction are critical to retaining current customers and attracting new customers, and have a significant impact to the performance of each automaker.

“In the fiercely competitive China automotive market, it is vital for manufacturers to put forth stronger efforts to further enhance all aspects of the customer experience in order to sustain their growth,” said O’Neill. “Consistent efforts should focus on customer service processes, an aligned workforce and, most importantly, an unrelenting pursuit of excellence in delighting customers.”

O’Neill stressed that improvement in the following areas is critical for sustainable growth in the China automotive industry:

• Brand strength, reflected in brand website effectiveness (BWES): Build organic website traffic and drive consumers  to dealerships
• Vehicle appeal (APEAL): Make vehicles more appealing in order to be added to the consideration list of new-vehicle shoppers
• Initial vehicle quality (IQS): Minimize both build and design problems in order to deliver a superior quality experience, as quality remains the top purchase reason
• Sales experience (SSI): Build a foundation of trust that will last a lifetime; execute an outstanding delivery to enhance initial quality perceptions
• After-service excellence (CSI): Cement customer loyalty; retain customers and drive customer recommendation and repurchase  
• Vehicle durability (VDS): Strengthen dependability in order to enhance brand perception and improve residual value

JD Power Asia Pacific benchmark studies evaluate products and services based on customer feedback regarding their experiences in order to help businesses make informed decisions about product and service improvements. The research is conducted through an entirely independent process that is funded by JD Power, which is critical to the company’s unbiased position. Study results are based solely on the opinions of verified vehicle owners. 

2013 Syndicated Automotive Study Awards

2013 China Sales Satisfaction Index (SSI) Study

• Highest in Sales Satisfaction among Luxury Brands—Audi
• Highest in Sales Satisfaction among Mass Market Brands—Dongfeng Nissan

2013 China Customer Service Index (CSI)

• Highest in Customer Satisfaction with After-Sales Service among Luxury Brands—Audi
• Highest in Customer Satisfaction with After-Sales Service among Mass Market Brands—Dongfeng Peugeot

2013 China Brand Website Evaluation Study (BWES)

• Highest Satisfaction in Brand Website—FAW Toyota

2013 China Initial Quality Study (IQS)

• Best Compact Car in Initial Quality—BYD F0
• Best Premium Compact Car in Initial Quality—Chevrolet Sail
• Best Entry Midsize Car in Initial Quality—Hyundai Verna
• Best Midsize Car in Initial Quality—Toyota Corolla EX
• Best Upper Premium Midsize Car in Initial Quality—Hyundai Sonata
• Best Luxury Car in Initial Quality—Mercedes-Benz E-Class
• Best SUV in Initial Quality—Subaru Forester
• Best Luxury SUV in Initial Quality—BMW X1
• Best MPV in Initial Quality—Buick GL8
• Best Mini Van in Initial Quality—Changan Star 2

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

• Most Appealing Compact Car—Baojun Lechi
• Most Appealing Premium Compact Car—Chevrolet Sail
• Most Appealing Entry Midsize Car—Kia K2
• Most Appealing Midsize Car—Hyundai Langdong Elantra
• Most Appealing Upper Premium Midsize Car—Volkswagen Magotan
• Most Appealing Luxury Car—Mercedes-Benz S-Class
• Most Appealing Luxury SUV— Audi Q5
• Most Appealing SUV— Hyundai ix35
• Most Appealing MPV—Buick New GL8
• Most Appealing Mini Van—Wuling Hongguang

2013 China Vehicle Dependability Study (VDS)

• Most Dependable Compact Car—Baojun Lechi
• Most Dependable Premium Compact Car—Suzuki Swift
• Most Dependable Entry Midsize Car—Chevrolet Aveo/Lova
• Most Dependable Midsize Car—Honda City Fengfan
• Most Dependable Lower Premium Midsize Car—MG 6
• Most Dependable Upper Premium Midsize Car—Toyota Reiz
• Most Dependable Luxury Car—BMW 7 Series
• Most Dependable SUV—Toyota Land Cruiser Prado
• Most Dependable MPV—Buick New GL8
• Most Dependable Mini Van—Wuling Hongguang

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.

For inquiries about advertising/promotional rules, please contact:

Michelle Meng; Corporate Communications and Marketing; JD Power Asia Pacific; Beijing, 100022 China; +86 10 6569 2960; [email protected]

About McGraw Hill Financial www.mhfi.com 

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.

Source: LMC Automotive