Posted by mike on 2008/12/11 12:34:26 (1025) reads
Finally, a J.D. Power and Associates report where Jeep doesn't appear in the bottom 5 - as a matter of fact, they're right in the middle of the pack for 2008 New Vehicle Buyer Retention!
From the J.D. Power and Associates press release:[quoteHonda leads the automotive industry in retaining the highest percentage of new-vehicle purchasers, according to the J.D. Power and Associates 2008 Customer Retention Study(SM) released today.
Overall customer retention declines slightly to 48 percent in 2008 from 49 percent in 2007. In 2008, 13 of the 36 ranked brands have improved in customer retention rates from 2007, while 18 have declined and five have remained stable. Land Rover posts the greatest improvement in customer retention rates from 2007, improving by 18 percentage points in 2008. This improvement is driven primarily by incentives, attractive sales deals and the look and styling of Land Rover models.
The study finds that, among retained customers, the importance of safety, fuel economy and deals/incentives have increased as reasons for repurchasing, compared with 2007. Among conquest customers -- those owners whose new vehicle replaced a vehicle of a different brand -- fuel economy, ownership/maintenance costs and deals/incentives have the greatest increases in importance since 2007 in their decisions to change brands.
"In 2008, new-vehicle buyers have become increasingly concerned with monetary factors when deciding whether to repurchase a vehicle brand -- a reflection of current economic conditions," said Ortuno. "Manufacturers with vehicle lineups that adequately address these concerns will be poised to retain a greater share of customers and to win conquests."
2008 Make Retention Rates
Land Rover 49.0%
Industry Average 48.0%