Customer loyalty. It could be the most important metric for vehicle manufacturers. The reason? It could lead customers to become “brand ambassadors,” said J.D. Power vice president of data and analytics Tyson Jominy. “When a brand can connect emotionally with owners through the vehicle’s content, capabilities or prestige level, owners are much more likely to […] [Read More]
The senior economist of the National Automobile Dealers Association sees a continued “shift” in demand from new cars to used on the horizon, according to a Q&A analysis of the second quarter released by NADA earlier this month. One of the drivers for this movement to used vehicles is the pricing difference between new and […] [Read More]
Pushback dealerships might hear from potential vehicle-lease customers come from individuals who say that using ridesharing services could be more cost effective rather than taking on a lease contract. Well, the analyst team at Swapalease.com ran the numbers — taking into consideration that costs for ridesharing services are climbing — and recently shared an estimated […] [Read More]
Forget what you think you know about millennials* and their relationship with automobiles. Fears that Gen Y — those between 25 and 42 years of age today — would turn their backs on the all-American car-buying tradition are unfounded. To be sure, there was some initial cause for concern. As this demographic came of age […] [Read More]
Cox Automotive chief economist Jonathan Smoke emphasized that the statement he was about to make was “not a negative thing.” Smoke and other Cox Automotive leaders were speaking to reporters and others gathered at the company’s Detroit-area offices on Wednesday, discussing Cox's 2019 Mid-Year Review and Outlook report. “The strongest part of the market — from […] [Read More]
In part because of what Mark Seng of IHS Markit describes as better technology and overall vehicle quality improvements, the average age of U.S. light vehicles in operation is back on the rise. According to new research from IHS Markit, the average age of U.S. light vehicles in operation has increased again this year to […] [Read More]
Automakers and tech companies should not be allowed to collect data and sell it to advertisers or third parties. Eighty-three percent of consumers participating in a recent survey from Autolist.com believe that. Seventy percent of respondents say vehicle owners should be in control of and own the data their vehicle generates. Autolist.com editor in chief […] [Read More]
Paint imperfections. Brake and suspension noises. Engines not starting. The “check engine” light coming on early in the ownership experience. Those are some of the reasons that new-vehicle quality is flat for 2019 compared to 2018, according to the J.D. Power 2019 Initial Quality Study. That was just one finding of the study, which showed […] [Read More]
With modern vehicles containing complex components that can be quite expensive to repair or replace, the value proposition for including an extended warranty can be even more compelling for dealership finance managers to offer their customers. GWC Warranty area vice president of strategic alliances Wendy Pratt shared some recommendations with Nick about how stores can […] [Read More]
Along with his legal expertise as director of compliance for Reynolds Document Solutions, Terry O’Loughlin also possesses deep knowledge of history, especially in connection with paper and how it’s used for financing contracts used by dealers. Nick recorded this episode during this year’s National Automotive Finance Association annual conference in Plano, Texas, as O’Loughlin offered […] [Read More]
