Category: Uncategorized

“Back to Basics” Sales Approach Can Help Combat Declining New-Vehicle Sales, JD Power Finds

2020-04-22

MEXICO CITY: 27 March 2020 — Low consumer confidence is putting pressure on auto dealers to provide a more satisfying vehicle sales experience, according to the JD Power 2020 Mexico Sales Satisfaction Index (SSI) Study,^SM released today. Luxury brand dealers are successfully addressing consumers’ wants and needs and have eclipsed mass market brand dealers in overall sales satisfaction. In the luxury segment, satisfaction improves to 895 (on a 1,000-point scale), which is 17 points higher than in 2019. The mass market segment remains flat at 854.

“New-vehicle sales in Mexico are expected to decrease by 3.2% to 1.27 million units in 2020, and that alone should inspire dealers to be more focused on satisfying—and keeping—customers than ever before,” said Gerardo Gomez, senior director and country manager at JD Power de Mexico. “Buyers value the basic steps in the sales process, such as test drives and developing a personal connection with a salesperson. Dealers that recognize and act on what makes buyers satisfied will capture more sales.

“Something as simple as ensuring a customer is immediately greeted by a salesperson can improve satisfaction by 37 points,” Gomez said, “but this only happens 88% of the time. Dealers must take advantage of every opportunity to set themselves apart from the competition, and they must realize that not every sales initiative is a costly one.”

The study, now in its seventh year, is a comprehensive analysis of the new-vehicle purchase and delivery experience. It examines customer satisfaction with the selling dealer across five measures (in order of importance): vehicle delivery (26%); working out the deal (24%); salesperson (19%); dealership facility (18%); and test drive (14%).

Luxury brand satisfaction improves across all categories, led by salesperson (+22 points); vehicle delivery (+22 points); and working out the deal (+18 points). Mass market brand satisfaction remains virtually unchanged from 2019.

Following are key findings of the 2020 study:

• Fuel efficiency stands out among purchase considerations: The continuing increase in fuel prices in recent years has driven more mass market shoppers to purchase the most fuel-efficient models available in the marketplace. Among attributes measured in the study, new-vehicle buyers say that higher fuel economy is most important (14.1%).
   
• Internet can be doubled-edged sword for new-vehicle shopping: The majority (87%) of new-vehicle shoppers use the internet during their shopping process. However, satisfaction is 19 points higher when shoppers don’t use the internet to shop for a vehicle. Dealers must ensure the information that’s provided on their websites is clear, true and consistent with what shoppers will find on the lot to avoid setting false expectations. For example, prices and promotions that are in small print on a dealer website, and therefore may be overlooked by shoppers, may have a negative effect on satisfaction once a shopper becomes aware of them when they visit the dealership.
   
• Optimize vehicle delivery process: On average, answering all owner’s questions during delivery results in higher satisfaction (864) than when not being able to answer questions (610). When personally thanked for their purchase, owners have a satisfaction score of 864. On the other end of the spectrum, satisfaction is only 800 when a vehicle isn’t delivered with a reasonable amount of fuel, which occurs 24% of the time. Contacting the owner after the vehicle is delivered to ensure everything was satisfactory is another area where dealers can improve. This only happens 68% of the time, accounting for an 11-point decrease in satisfaction.
   
• Buyer-selected insurance increases satisfaction: Sales experience satisfaction is higher when new-vehicle buyers are given the opportunity to select their own insurance company than among those who had an insurance company imposed on them by the dealer at the time of purchase. Of the buyers who paid in cash for their new vehicle, 71% selected their own insurance company, having a satisfaction score of 879. Among buyers who paid in cash but had the insurer imposed on them by the dealer, satisfaction was 851.
   
• Buyers who paid in cash for their vehicle are more satisfied: Satisfaction is 26 points higher among buyers who paid cash than among those who requested a loan. This presents an opportunity for dealers to improve their negotiation and financing processes, especially since buyers requesting loans represent 65% of their sales.

Study Rankings

BMW ranks highest among luxury brands, with a score of 901, a 20-point increase from 2019. Mercedes-Benz and MINI rank second in a tie, each with a score of 898.

Honda ranks highest among mass market brands, with a score of 891, which is 42 points higher than in 2019. Mazda (877) ranks second and Mitsubishi (876) ranks third.

The 2020 Mexico Sales Satisfaction Index (SSI) Study is based on evaluations of 3,403 new-vehicle buyers in Mexico after one to 12 months of ownership. The study was fielded from September 2019 through February 2020.

For more information about the Mexico Sales Satisfaction Index (SSI) Study, visit https://mexico.jdpower.com/es/resource/mexico-sales-satisfaction-index-ssi-mx

JD Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable JD Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, JD Power has offices serving North America, Asia Pacific and Europe.

Media Relations Contacts

Fabiana Duran; Mexico City +52 55 1012 0885; [email protected]
Silvia Mosqueda; Mexico City; +52 55 5368 2177; [email protected]
Omar Pellon; Mexico City; +52 55 7940 9174; [email protected]
Geno Effler; USA; 714-621-6224; [email protected]

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

 

Now, More than Ever, Manufacturers Must Optimize Websites to Reach Consumers Digitally,  JD Power Finds

2020-04-22

TORONTO: 1 April 2020 — The JD Power 2020 Canada Manufacturer Website Evaluation Study,^SM is a study that measures the usefulness of automotive manufacturer websites during the process of shopping for a new vehicle by examining four key measures (in order of importance): information/content; appearance; navigation; and speed.

“The majority of shoppers in Canada rely heavily on manufacturers’ websites to help guide their purchase decisions and a significant percentage are willing to move much further down the purchase funnel than in previous years,” said JD Ney, automotive practice lead at JD Power. “Once we emerge from this COVID-19 pandemic, that first point of contact is going to play an increasingly vital role. It’s critical that manufacturers invest now to assure their sites are operating at peak performance and can handle new digital retail opportunities.”

This year’s study finds that overall satisfaction averages 804 (on a 1,000-point scale) for the mass market segment, while the luxury segment averages 808. GMC (835) ranks highest in the mass market segment and BMW (835) is the highest-ranked luxury brand.

The Canada Manufacturer Website Evaluation Study, initially released in 2011, is based on responses from 3,244 new vehicle shoppers who indicate they will be in the market for a new vehicle within the next 24 months. The study was fielded in January 2020.

For more information about the Canada Manufacturer Website Evaluation Study,^SM visit https://canada.jdpower.com/resource/canadian-manufacturer-website-evaluation-study

JD Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable JD Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, JD Power has offices serving North America, Asia Pacific and Europe.

Media Relations Contacts
Gal Wilder, Cohn & Wolfe, Toronto, Canada; 647-259-3261, [email protected]
Geno Effler; Costa Mesa, Calif.; 714-621-6224; [email protected]
 

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

 

Direct Banks Earn Higher Customer Satisfaction than Traditional Retail Banks, but Face Call Center Challenges

2020-04-22

TROY, Mich.: 2 April 2020 — Even before the COVID-19 pandemic thrust digital banking into the global spotlight, branchless—or direct—banks were already taking deposit market share from traditional retail banks, particularly among younger customers. According to the JD Power 2020 U.S. Direct Banking Satisfaction Study,^SM released today, direct banks continue to significantly outperform traditional retail banks in overall customer satisfaction—but challenges persist when it comes to call center interactions.

“While direct banks are delivering high customer satisfaction,” said Bob Neuhaus, vice president of financial services intelligence at JD Power, “they have challenges in key areas such as call center operations, new client onboarding and consistent digital engagement. Getting the formula right on customer service and client communications will be particularly important as direct banks contend with the fallout of the COVID-19 pandemic in terms of account servicing and a significantly lower interest rate environment.”

Following are some key findings of the 2020 study:

• Direct banks outperform traditional retail banks: The overall satisfaction for direct banks is 864 (on a 1,000-point scale). This is substantially higher than the overall satisfaction for customers who use branches at traditional branch-based retail banks, based on findings of the JD Power 2019 U.S. Retail Banking Satisfaction Study.^SM Direct banks’ overall satisfaction also is substantially higher than the average score at the Big Six retail banks among customers who are not conducting branch transactions.¹
   
• Direct banks gain market share from retail banks: On average, direct banks capture 47% of total deposit share of average customers, compared with 71% among traditional retail banks. However, bank customers with both traditional retail and direct banking accounts hold significantly smaller deposits in their traditional accounts than do those who only have traditional retail bank accounts.
   
• Call center challenges persist: One area where direct banks consistently lag traditional retail banks is in interactions with the call center. Direct bank customers access the call center at nearly twice the frequency of traditional bank customers. In fact, 40% of direct banking customers who accessed their bank’s call center say they waited five minutes or longer on hold before speaking to a live representative. On average, overall customer satisfaction scores fall 34 points when on-hold wait times exceed four minutes.
   
• Direct bank customers skew younger and are also less loyal:  Gen Z² customers have a significantly higher percentage of their deposit accounts with a direct bank than customers in other generational groups. Also, study data suggests that younger customers are using direct banks as their primary banking institution significantly more often than older customers. However, overall satisfaction among Gen Z customers (814) is lower than among older customers, and this segment of customers are significantly more likely to switch banks.
   
• Customers place high levels of trust in digital banks: Direct banks rate higher on the
  JD Power Trust Index than do other financial services providers, including mortgage originators and servicers, small business banking providers and traditional retail banks. This index measures customer perceptions across several attributes including protection of personal identity, putting customer first and absence of hidden fees. The gap in JD Power Trust Index ratings between direct banks and traditional retail banks is 65 points (on a 1,000-point scale).
   
• Direct banks that offer checking outperform direct savings banks: Direct savings banks have satisfaction scores ranging from 836 to 861—all of which are below the average for direct banks that offer checking (864).

Study Rankings

Charles Schwab Bank ranks highest in overall satisfaction with a score of 875. E*TRADE Bank (869) ranks second. All other providers included in the study rank below the industry average.

The U.S. Direct Banking Satisfaction Study, now in its fourth year, measures overall satisfaction with direct banks based on five factors (in order of importance): channel activities; communication; products and fees; new account opening; and problem resolution. The channel activities factor includes five subfactors: website; mobile; assisted online; call center; and IVR. The study is based on responses from 3,147 direct bank customers nationwide and was fielded in December 2019-January 2020.

To learn more about the U.S. Direct Banking Satisfaction Study, visit https://www.jdpower.com/business/resource/us-direct-banking-satisfaction-study.

JD Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable JD Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, JD Power has offices serving North America, Asia Pacific and Europe.

Media Relations Contacts
Geno Effler, JD Power; Costa Mesa, Calif.; 714-621-6224; [email protected]
John Roderick; Huntington, NY.; 631-584-2200; [email protected]

¹The average for the Big Six retail banks is not weighted for market share.

²JD Power defines generational groups as Pre-Boomers (born before 1946); Boomers (1946-1964); Gen X (1965-1976); Gen Y (1977-1994); and Gen Z (1995-2004). Millennials (1982-1994) are a subset of Gen Y.

 

With COVID-19, Consumers are Jump-Starting Home Improvement Painting Projects, JD Power Finds

2020-04-22

TROY, Mich.: 9 April 2020 — As U.S. residents continue to shelter in place as a result of the COVID-19 pandemic, many have started a home improvement project. Along with the JD Power 2020 Paint Satisfaction Study,^SM released today, results of a JD Power pulse survey finds that over one-third (35%) of people are in the process or are planning to do a home improvement project over the next three months.  This includes a 40% increase specifically due to the unexpected additional time at home. With people being restricted to their home, painting has become the top home improvement project planned with 44% indicating they have painted recently or will be during the next three months.  

“Having a pulse survey complementing the Paint Satisfaction Study brings additional insights which have enabled us to bring greater context to the voice of the customer and assist manufacturers and retailers during this difficult time,” said Christina Cooley, director of the @home practice at JD Power. “Home improvement do-it-yourselfers are increasingly looking to websites to help them find the best paint products to deliver on their vision, then looking to retailers for guidance to ensure success.” 

While COVID-19 is putting many industries at risk, the paint industry—as part of homebuilding and construction—is positioned to be less affected than others, according to Moody’s (moodys.com/coronavirus). In fact, there is evidence from the JD Power pulse survey that paint and stain purchases could potentially exceed typical Q2 trends. The brands and retailers that will most benefit from this silver-lining opportunity are the ones that differentiate in delivering an exceptional customer experience.

Study Rankings

Sherwin-Williams ranks highest in the interior paint segment with a score of 867. Benjamin Moore (863) ranks second and BEHR (860) ranks third.

Sherwin-Williams ranks highest in the exterior paint segment with a score of 876. Benjamin Moore (861) ranks second.

Sherwin-Williams ranks highest in the exterior stain segment with a score of 850. Rust-Oleum (843) ranks second and BEHR (839) ranks third.

Sherwin-Williams ranks highest in the paint retailer segment with a score of 868. Benjamin Moore Paint Stores (856) ranks second and Menards (845) ranks third.

The 2020 Paint Satisfaction Study is based on responses from 5,631 customers who purchased and applied interior paint, exterior paint and/or exterior stain in the past 12 months. The study was fielded in January 2020.

For more information about the U.S. Paint Satisfaction Study, visit http://www.jdpower.com/business/resource/paint-satisfaction-study.

JD Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable JD Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, JD Power has offices serving North America, Asia Pacific and Europe.

Media Relations Contacts
Geno Effler; Costa Mesa, Calif.; 714-621-6224; [email protected]
John Roderick; St. James, N.Y.; 631-584-2200; [email protected]

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

 

Customer Satisfaction Increases among Gas Utility Business Customers, JD Power Finds

2019-12-06

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COSTA MESA, Calif.: 11 Dec. 2019 — Overall customer satisfaction among gas utility business customers increases to 804 (on a 1,000-point scale) in 2019, boosted by performance in reliability, corporate citizenship and communication, according to the JD Power 2019 Gas Utility Business Customer Satisfaction Study,^SM released today. Not only do service interruptions continue to decline, but gas utilities’ effective communication with customers is linked to higher satisfaction.

“The 10-point increase from the 2018 study gives the gas industry one of the highest satisfaction scores in the utility industry,” said Carl Lepper, Director of the Utility Practice at JD Power. “Gas utilities are doing a better job of providing reliable service at an affordable price. Business customers are especially attuned to local economic development efforts and conservation programs by gas utilities. Through ongoing, proactive communication about corporate citizenship, as well as topics relating to safety, reliability and infrastructure, gas utilities can continue to generate higher satisfaction for their business customers.”

Study Rankings

The industry results for the 2019 study are reported across four U.S. geographic regions: East, Midwest, South and West. The following utilities rank highest in customer satisfaction in their respective region:

• East: BGE (for second consecutive year)
• Midwest: Louisville Gas & Electric
• South: TECO Peoples Gas
• West: NW Natural (for fourth consecutive year)

Now in its 15th year, the Gas Utility Business Customer Satisfaction Study measures business customer satisfaction with gas utility companies in four regions: East, Midwest, South and West. Each of the 60 brands included in the study serve more than 25,000 business customers, representing more than 4 million business customers in total. Overall satisfaction is measured by examining six factors (listed in order of importance): safety and reliability (25%); billing and payment (17%); corporate citizenship (15%); customer service (15%); price (15%); and communications (13%).

The study is based on responses from more than 9,600 online interviews with business customers who spend at least $150 monthly on natural gas. The study was fielded in two waves: February-June 2019 and July-October 2019.

JD Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable JD Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, JD Power has offices serving North America, South America, Asia Pacific and Europe.

Media Relations Contacts
Geno Effler; Costa Mesa, Calif.; 714-621-6224; [email protected]
John Roderick; St. James, N.Y.; 631-584-2200; [email protected] 

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

 

JD Power to Merge with Autodata Solutions, Creating a Leading Source of Automotive Data, Analytics and Software Solutions

2019-12-13

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TROY, Mich., 16 Dec. 2019 – JD Power, a global leader in data analytics and consumer intelligence, today announced a merger with Autodata Solutions, a provider of data and software solutions for the automotive ecosystem. The merger marks the completion of JD Power’s acquisition by Thoma Bravo, a leading private equity firm, and owner of Autodata Solutions. The newly combined company will operate under the name JD Power and will offer market-leading new and pre-owned automobile transactional data, valuation tools, vehicle feature information and consumer analytics to the automotive industry. JD Power will also continue to provide industry leading benchmarks, analytics and customer insights across the Banking & Payments, Wealth & Lending, Telecommunications, Insurance, Health, Travel and Utilities sectors through its Global Business Intelligence division.

“The combination of JD Power’s deep data, analytics and customer experience insights with Autodata Solutions’ comprehensive vehicle feature data and dealer and manufacturer technology platforms will create a robust and insightful automotive industry resource for analyzing consumer demand and optimizing the vehicle sales process,” said Dave Habiger, who will continue as President and CEO of JD Power. “As the auto industry continues to be disrupted by changing patterns of consumer behavior and new technologies such as connected vehicles, electric vehicles, autonomous vehicles and ridesharing, we are building a company that will help the entire industry rise to the challenge.”

JD Power has been delivering incisive industry intelligence on customer interactions with brands and products for more than 50 years. The world’s leading businesses across more than a dozen different industries rely on JD Power data, research and insights to guide their customer-facing strategies, while consumers around the world look to JD Power ratings as the undisputed mark of quality.

In the automotive sector, JD Power is recognized for its Voice-of-the-Customer research and its Power Information Network (PIN) and Used Car Guide (UCG) products, which provide the industry with new and used car transaction information. The company has also pioneered the use of artificial intelligence (AI) capabilities to merge its vast database of consumer behavioral data, pricing information and “Voice of the Vehicle” telematics-based data into powerful predictive models.

Autodata Solutions provides Software as a Service (SaaS) and software solutions that range from back-end automation systems that enable dealer-to-original equipment manufacturer (OEM) vehicle ordering to data-driven, consumer-focused interactive marketing initiatives. Its Chrome-branded solutions increase the effectiveness of the automotive sales ecosystem and include rebates and incentives, Vehicle Identification Number (VIN) decode and describe, and vehicle configuration and comparisons.

Together, the two companies create a complementary set of capabilities that will strengthen the global automobile industry’s ability to forecast vehicle demand and shape strategic decision making.

“The joining of these two leading companies will enable the auto industry to make the process of configuring, ordering and selling cars more efficient, which can improve profitability and capital deployment,” said Scott Crabill, a Managing Partner at Thoma Bravo. “This capability is exactly the kind of proven, concrete insight the auto industry needs as it confronts changing consumer demands in a transforming technology environment.”

“The new JD Power delivers the authoritative ground truth and predictive intelligence the automotive industry so desperately needs right now to stay in sync with changing patterns of consumer behavior, rapid-fire technological change and a challenging macroeconomic environment,” said Craig Jennings, former President and CEO of Autodata Solutions, who will continue as President of the Autodata division in the newly combined JD Power. “By pairing our platform with JD Power’s deep data and analytics capabilities, we’re going to be able to take the guesswork out of the manufacturing and floor planning process, helping manufacturers and dealers drive maximum impact and profitability by getting the new vehicle formula just right. We are excited to be joining the JD Power team to make that vision a reality.”

In addition to the investment by Thoma Bravo, JD Power’s existing management team will reinvest their ownership interest in the newly combined company. All of the current Autodata Solutions and JD Power employees will have the opportunity to take an ownership stake in the company.

The headquarters for the combined company will be in Troy, Mich.

About Thoma Bravo, LLC
Thoma Bravo is a leading private equity firm focused on the software and technology-enabled services sectors. With a series of funds representing more than $35 billion in capital commitments, Thoma Bravo partners with a Company’s management team to implement operating best practices, invest in growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings, with the goal of increasing the value of the business. Representative past and present portfolio companies include industry leaders such as ABC Financial, Blue Coast Systems, Deltek, Digital Insight, Frontline Education, Global Healthcare Exchange, Hyland Software, Imprivata, iPipeline, PowerPlan, Qlik, Riverbed, SailPoint, SolarWinds, Sparta Systems, TravelClick and Veracode. The firm has offices in San Francisco and Chicago.

About JD Power
JD Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable JD Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, JD Power is headquartered in Troy, Mich.

Media Contacts
Megan Frank, Thoma Bravo; 628-218-0274; [email protected]
Shane Smith, PCG (East Coast), 424-903-3665; [email protected]

 

December Sales Will Fall as Auto Industry Sets Record for Transaction Prices, Incentive Spending

2019-12-17

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The Retail Sales Forecast
New-vehicle retail sales in December are expected to be down from a year ago, according to a forecast developed jointly by JD Power and LMC Automotive. Retail sales are projected to reach 1,272,300 units, a 2.8% decrease on a selling day adjusted basis compared with December 2018. Reporting the same numbers without controlling for the number of selling days translates to a decrease of 6.6% vs. last year. (Note: December 2019 contains one less weekend and one less selling day than December 2018.)

New-vehicle retail sales for the 2019 calendar year are projected to reach 13,717,600 a 1.7% decrease compared to 2018.

The Total Sales Forecast
Total sales in December are projected to reach 1,531,500 units, a 2.1% decrease on a selling day adjusted basis compared with December 2018. Reporting the same numbers without controlling for the number of selling days translates to a decrease of 5.9% over last year. The seasonally adjusted annualized rate (SAAR) for total sales is expected to be 16.9 million units, down 500,000 units from a year ago.

New vehicle total sales for the 2019 calendar year are projected to reach 16,998,800, a 1.4% decrease from 2018.

The Takeaway

Thomas King, President of the Data & Analytics Division at JD Power:
“December’s soft performance closes the year on a down note, but another record for transaction prices reinforces that manufacturers are producing the type of vehicles that consumers want in the market. Record prices, however, have also been accompanied by record incentive levels, which signifies that there is still too much supply relative to overall demand.”

Average transaction prices in December are on pace to set a record of $34,602, up $673 from last year. Growth is being driven by prices of truck/SUVs, which are expected to reach $36,935, an increase of $655 from last year. Prices for cars are up to $27,461, a modest increase of $79.

Concurrently, average incentive spending per unit is on pace to reach a record $4,600, an increase of 6.9% (+$296) from a year ago. The previous high for the industry was set last month at $4,520. Overall spending as a percentage of MSRP also remains close to 11%, the highest level since the recession in 2008. Among the 25 top-selling brands in the industry, all but four are expected to show an increase in overall spending.

—–

“Looking at the entire year, annual retail sales will reach more than 13.7 million units in 2019. This represents the 10th-best retail sales year in history and a modest 232,000-unit decline from last year,” King said. “With transaction prices continuing to show robust growth, consumers will spend a record amount of money on new vehicles in 2019.”

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

Looking ahead to 2020, more than 60 new or refreshed models are expected to be introduced, which should help mitigate further degradation in overall sales.

The Details

• The average new-vehicle retail transaction price in December is expected to reach $34,602. The previous high for the industry, $34,239, was set in November 2019.
   
• Average incentive spending per unit in December is expected to reach $4,600, up from $4,304 last year. The previous record—$4,520—was set in November 2019.
   
• Incentive spending on cars is expected to be up $227 to $4,197, while spending on truck/SUVs is up $309 to $4,732.
   
• Consumers are on pace to spend $44 billion on new vehicles in December, down $2.2 billion from December 2018.
   
• Truck/SUVs account for 73.9% of new-vehicle retail sales through Dec. 15, the highest level ever for the month of December.
   
• Days to turn, the average number of days a new vehicle sits on a dealer lot before being sold to a retail customer, is 72 days through Dec. 15. This is up five days from a year ago.
   
• Fleet sales are expected to total 259,200 units, up 1.7% from December 2018. Fleet volume is expected to account for 17% of total light-vehicle sales, up from 16% a year ago.

Outlook for the Year

Jeff Schuster, President, Americas Operations and Global Vehicle Forecasts, LMC Automotive:
“Despite a lot of noise and some uncertainty with light-vehicle sales, 2019 has turned out to be a strong year. Much of that uncertainty has dissipated with USMCA nearly across the finish line, the progress with the China trade deal and an economy that is expected to be supportive. Prospects for 2020 are shaping up to be quite stable, though volume is expected to be a bit lower. Manufacturers will face a lot of pressure to stand out in a crowded market with nearly 60% more redesigned or new entries in 2020 than there were in 2019.”

Looking at 2020, total light-vehicle demand is forecast at 16.8 million units, down 1.4% from 2019 and retail light-vehicle demand is at 13.5 million units, down 1.7% from 2019.

Media Relations Contacts
Geno Effler; JD Power; Costa Mesa, Calif.; 714-621-6224; [email protected]
Emmie Littlejohn; LMC Automotive; Troy, Mich.; 248-817-2100; [email protected]

About JD Power and Advertising/Promotional Rules www.jdpower.com/business/about-us/press-release-info
About LMC Automotive www.lmc-auto.com

 

 

JD Power Acquires Trilogy Automotive

2019-12-20

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TROY, Mich.: 20 Dec. 2019 — JD Power, a global leader in data analytics and consumer intelligence, today announced the acquisition of Trilogy Automotive, the automotive software division of Trilogy Enterprises. Trilogy’s SaaS-based enterprise lead management platform will be integrated into JD Power’s Autodata Solutions division’s original equipment manufacturer (OEM) digital dealer platform, expanding the capabilities and reach of its existing offering to better enable manufacturers and dealers to optimize retail lead management programs.

Trilogy Automotive provides enterprise level, SaaS-based automotive lead and digital management platforms, enabling OEMs and dealers to maximize the efficiency and effectiveness of their digital marketing spend. The platform improves coordination between OEMs, dealers and third parties, while generating real-time insights on consumer behavior. 

“Trilogy Automotive has built one of the industry’s most powerful solutions for identifying high quality leads from the vast number of automobile shoppers, all while maintaining a seamless customer experience, continuity with OEM guidelines, and real-time insights for dealers and OEMs,” said Craig Jennings, President of the Autodata Solutions division at JD Power. “By integrating Trilogy’s capabilities with our existing OEM digital dealer platform, we will be able to create a robust suite of digital marketing platforms providing lead management, lead generation and digital management services to OEMs, Dealer Service Providers and Retailers.”
    
“I’m thrilled to lead the Trilogy Automotive team into our new partnership with JD Power and the Autodata team,” said Kim Irwin, President of Trilogy Automotive. “The Trilogy Automotive story is one of amazing growth, having expanded rapidly from a core group of employees who built the initial framework for our platform to become a leading technology company that supports some of the most prestigious brands in the automotive industry. I speak on behalf of the whole Trilogy Automotive team when I express how excited we are as we look forward to our next phase of accelerated growth.”

The Trilogy acquisition follows closely on the heels of JD Power’s merger with Autodata Solutions to create a market-leading provider of new and pre-owned automobile transactional data, valuation tools, vehicle feature information and consumer analytics to the automotive industry. Trilogy Automotive will be integrated into the newly combined company’s Autodata Solutions division. 

Trilogy Automotive senior leadership and employees will continue with the firm and will be integrated into JD Power’s Autodata Solutions division. 

JD Power was advised by Atlas Technology Group and the law firm Kirkland & Ellis on the transaction. Trilogy Automotive was advised by Portico Capital, Ron Frey, and the law firms Jones & Spross and Cooley.

About JD Power 
JD Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable JD Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, JD Power is headquartered in Troy, Mich.

About Trilogy Automotive
For over two decades, Trilogy has been revolutionizing the automotive industry through a combination of relentless innovation and a commitment to customer success. Trilogy Automotive’s patented technology solutions range from custom and client driven to turnkey configuration, design and lead management systems, and have powered leading automotive companies such as Ford, GM, Nissan, Chrysler, Toyota, Hyundai, Kia, Volvo, Jaguar and AutoNation. 

Media Relations Contacts
Geno Effler, JD Power; Costa Mesa, Calif.; 714-621-6224; [email protected]
Shane Smith, PCG (East Coast), 424-903-3665; [email protected]

 

Manufacturers Look to Evolve Auto Shopping Experience with Enhanced Digital Features

2020-01-06

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TROY, Mich.: 8 Jan. 2020 — The JD Power 2020 Manufacturer Website Evaluation Study^SM—Winter is a semiannual study that measures the usefulness of automotive manufacturer websites during the process of shopping for a new vehicle by examining four key measures (in order of importance): information/content; appearance; navigation; and speed.

“This year’s study was redesigned to underscore several recent trends seen in automotive vehicle manufacturer websites,” said Jon Sundberg, senior manager of digital solutions at JD Power. “We’ve taken note of the digital advancements OEM websites are implementing to evolve the automotive shopping experience. Items like personalization, customization and digital retailing are being implemented or are on the digital road map for many OEM sites, and we wanted to ensure the customer has a voice in these areas. We’ve even added self-guided videos and transcripts of shoppers using OEM websites to give further context to the shopping experience.”

This year’s study finds that overall satisfaction averages 834 (on a 1,000-point scale) for the luxury segment, while the mass market segment averages 826. Land Rover (864) ranked highest in the luxury manufacturer brand segment and Mitsubishi (848) is the highest-ranked mass market brand.

The Manufacturer Website Evaluation Study, initially released in 1999, is based on responses from 10,031 new vehicle shoppers who indicate they will be in the market for a new vehicle within the next 24 months. The study was fielded in November 2019. 

For more information about the Manufacturer Website Evaluation Study,SM visit
https://www.jdpower.com/business/resource/us-manufacturer-website-evaluation-study

JD Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable JD Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, JD Power has offices serving North America, Asia Pacific and Europe.

Media Relations Contacts
Geno Effler; Costa Mesa, Calif.; 714-621-6224; [email protected]
Shane Smith; East Coast; 424-903-3665; [email protected]

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

 

JD Power Enterprise Management (Shanghai) Co., Ltd., Authorized as Regional Headquarters

2020-01-05

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SHANGHAI: 8 Jan. 2020 — JD Power Enterprise Management (Shanghai) Co., Ltd., has been authorized as regional headquarters by Shanghai Municipal People’s Government recently.  

JD Power has been in the China market for two decades and is well known for its advanced capabilities in consumer insights, advisory services and data and analytics, which enable JD Power to help its clients drive customer satisfaction, growth and profitability. Moving forward, JD Power will continue to upgrade its products and services based on technology and data to give new momentum to the Chinese and the entire Asian automotive industry.

Ruth Li, JD Power China CFO, takes over certificate from Yingyong, Mayor of Shanghai.

Media Relations Contacts
Geno Effler; Costa Mesa, Calif.; 714-621-6224; [email protected]
Shane Smith; East Coast; 424-903-3665; [email protected]