Customers More Satisfied with Vehicles

"Customer satisfaction with the auto industry matched an all-time high in the second quarter, according to a report released by the American Customer Satisfaction Index (ACSI).

Customer satisfaction improved for a second straight year, reaching an index score of 84. The current score matches the industry's all-time high from 2009 when aggressive dealer incentives, combined with the government's "Cash for Clunkers" program, helped revive the recession-strapped auto industry.

The customer satisfaction gain spans both domestic and foreign nameplates, with about 60 percent of the brands showing upticks in their ACSI scores compared with 2011. Specifically, four of seven Asian nameplates, two of three European carmakers, and six of nine American brands all earn higher ACSI scores.

While domestic nameplates show the greatest improvement overall, they continue to trail both European and Asian cars. Among the U.S. automakers, Ford continues to hold the lead at 86, followed by an unchanged General Motors at 84. Chrysler stays in last place overall, but makes the most progress in customer satisfaction with a surge to 81." [Read more]

More Consumers Want Hybrids

"When it comes to selecting a new automobile, car owners are showing an interest in purchasing a hybrid vehicle over traditional combustion engine vehicles.

One-third of car owners report they have an interest in purchasing a hybrid vehicle and about a quarter say that their interest in hybrids has increased from a year ago. Yet, even as new car buyers look more deeply into alternative fuel options, traditional combustion engine vehicles still get the nod by more than half (59%) of consumers as a vehicle choice they will consider for their next purchase." [Read more]

Trucks Top Most-Searched List

"The Ford F-150 once again claimed the number one spot as the most searched vehicle in June on carmax.com, according to CarMax, Inc., the nation's largest retailer of used cars. The pickup was accompanied by two other trucks, and the always present Jeep Wrangler and Chevrolet Tahoe, beating out more fuel-efficient sedans and hybrids.

The top 10 searched vehicles on carmax.com for June are: [Read more]"

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Dealers Like Preferred Relationships

"Satisfaction with automotive finance providers is significantly higher among dealers who have a preferred relationship with their lender, which is driven by a higher number of automated approvals, faster funding, more interactions with their sales representative and a perceived increase in the flexibility of the lender's buying policy, according to the J.D. Power and Associates 2012 U.S. Dealer Financing Satisfaction Study.

Preferred relationships are instituted by lenders that want to capture a larger percentage and/or a certain mix of a dealership's business and are often targeted to the lender's best dealerships. Preferred dealers who complete a certain volume or mix of their business with their lender are often rewarded under the terms of preferred relationships with rate discounts, better access to special programs and an improved service experience, compared with traditional relationships. " [Read more]