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J.D. Power’s latest U.S. Dealer Financing Satisfaction Study finds knowledgeable and empowered bank and finance company personnel are critical to building successful relationships with dealers and F&I professionals.
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Despite manufacturers’ best efforts, J.D. Power analysts described U.S. car buyers’ attitudes toward autonomous and electric vehicles as ‘not encouraging’ upon the release of the first-ever Mobility Confidence Index Study.
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J.D. Power analysts say the appeal of new vehicles has improved for the fifth consecutive year, accelerated in part by improved infotainment systems and semiautonomous driving technology.
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Subaru led all U.S.-sold marques in J.D. Power’s first-ever brand loyalty study, recapturing 61.5% of owners who completed a trade-in or purchase between June 2018 and May 2019.
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U.S. dealers sold 2.6% fewer new cars and light trucks in June than in the same month a year ago, but standout performances in key segments kept the seasonally adjusted annualized selling rate above 17 million for the second straight month.
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Genesis, Kia, and Hyundai lead J.D. Power’s Initial Quality rankings for the second straight year, but new-vehicle quality scores are flat overall, driven by a decline among 18 of 31 major U.S. brands.
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Big winners in the firm’s 2018 U.S Dealer Financing Satisfaction Study include Mercedes-Benz Financial Services in the Captive Luxury Segment, Volkswagen Credit in the Captive Mass Market segment, Citizens One Auto Finance in the Noncaptive category, and TD Auto Finance in Floorplan.
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The firm’s 2018 study revealed a 4% increase in initial quality from a year ago, with Genesis, Kia, and Hyundai topping the annual study’s rankings.
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May’s wholesale prices for used vehicles up to eight years in age fell 1.7% from the prior month, a level that’s typical for this time of year, the firm stated in its June Used Car and Light Truck Guidelines report.
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May new-vehicle sales grew by 4.8% from the year-ago period, while average incentive spending per unit grew 6.6% from a year ago to $3,740.
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