Faster Claims Settlement, Better First Notice of Loss Explanation Drive Satisfaction

Jeremy Bowler

Jeremy Bowler

Overall customer satisfaction with handling of auto insurance claims rises three points to 855 (on a 1,000-point scale) from 852 in 2012, mainly due to higher scores in managing the first notice of loss (FNOL) process and also providing quicker payments to claimants, according to the J.D. Power 2013 U.S. Auto Claims Satisfaction Study.SM

Among factors evaluated, overall satisfaction with first notice of loss improves by four points due to insurers providing better explanations to claimants of both the policy coverage and claims process, the study finds. Satisfaction with claims settlement improves by three points as insurers are paying faster—over half (51%) of claimants received their payment within eight days of the FNOL in 2013, which is up from 45% in 2012.

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Sales Satisfaction Up in Vietnam Market; Test Drive Can Make a Difference

Traffic on Vietnamese StreetOverall satisfaction with the new-vehicle purchase experience at the dealership has improved by 4 points in 2013 to an average 850 points (on a 1,000-point scale) from 846 points in 2012, according to our 2013 Vietnam Sales Satisfaction Index (SSI) Study. Yet, even with this year’s higher satisfaction score, the study finds areas where dealers can improve sales satisfaction, including offering customers a test drive and spending more time with the buyer during the delivery process.

Offering a test drive—which averages 17 minutes in 2013, compared with 19 minutes in 2012 and 21 minutes in 2011—to new-vehicle buyers who visit a dealership in Vietnam can increase customer satisfaction with the sales process, the study finds. Slightly more than one-third (36%) of buyers actually test drive a vehicle. Continue reading ›

October Sales Rebound after Damper Caused by U.S. Government Shutdown

John Humphrey

John Humphrey

Although the U.S. government shutdown (October 1-16) held back retail new-vehicle sales during the first half of October, the overall pace for the month remains ahead of the average for the year, according to a monthly forecast update from J.D. Power and strategic partner LMC Automotive.

Both retail and total (including fleet) new-vehicle sales are expected to rise 8% from the same month in 2012 on a selling-day basis.*

Retail sales in October are projected to reach 1.017 million units—up 8% from October 2012, based on transaction data collected during the first 17 selling days of the month. That translates to a seasonally adjusted annual rate (SAAR) of 12.8 million units vs. the year-to-date pace of 12.7 million.

During the first two weeks of October, retail sales edged up only 1.6% from the same October period in 2012, but they increased 7.7% in the third week of the month. Continue reading ›

J.D. Power’s Founder Focuses on Speed of Change during Casual Q&A

Jessica Migdol Garcia and founder J.D. (Dave) Power, III

Jessica Migdol Garcia interviews founder J.D. (Dave) Power, III, during a McGraw-Hill WINS Follow the Sun event in Westlake Village, CA.

In a recent Q&A interview at the J.D. Power office in Westlake Village, CA, founder J.D. (Dave) Power, III, spoke with Jessica Migdol Garcia, senior manager, business development, about a few memorable moments from the research firm’s history. He talked about the impact J.D. Power has had in improving the quality of products—especially cars and trucks—and said that a key challenge will be to manage consumer-focused digital research with the lightning speed of change due to the Internet. Continue reading ›

Small- and Large-Vehicle Segments Poised for Stronger Growth in 2013

Most of the 27 light-vehicle segments in the U.S. auto market achieved year-to-date sales gains through the first three quarters of 2013, according to analysis from J.D. Power and its strategic partner LMC Automotive. Large pickups advanced the most in the first three quarters—sales climbed 19.95% from last year’s same period. Compact crossovers (CUVs) . . . Continue Reading Small- and Large-Vehicle Segments Poised for Stronger Growth in 2013

Large Pickup Truck Demand Comes Back; Compacts Remain Strong Sellers

2014 F-150Consumer demand for large trucks and compact crossovers (CUVs) continues to surge in the U.S. market. The Ford F-Series and Chevrolet Silverado are ubiquitous best sellers in the U.S. market through the first nine months of 2013, according to data analyzed by J.D. Power and strategic partner LMC Automotive. Two compact CUVs—the Honda CR-V and Ford Escape—also rank among the 10 best-sellers. Overall, one of eight vehicles purchased in the first nine months this year is a compact CUV or a large pickup.

Both the F-150 and Silverado large pickups outpaced the industry with combined gains soaring 21% to reach nearly 898,400 units—up some 155,000 units from the same period in 2012. Practically a stand-alone brand, the F-Series has been the best-selling model in the U.S. market for 31 straight years. More than 537,605 light- and heavy-duty F-Series trucks were delivered in the first three quarters of 2013—up 92,471 units from a year ago. The redesigned Silverado also saw sales surge by 62,575 units, to 360,775 units year-to-date. Continue reading ›

Super Premium Model Sales Surge 18% in First Nine Months of 2013

The ultra-luxury niche segment that J.D. Power calls super premium recorded a significant 18% increase in sales during the first nine months of 2013. Fiat-Chrysler Group’s Maserati brand sold the most units among the eight premium brands included in this market segment. Maserati sales rose to 2,261 units, up from 1,984 in the same . . . Continue Reading Super Premium Model Sales Surge 18% in First Nine Months of 2013

J.D. Power’s Roundtable Auto Exec Speakers Define New Marketing Strategies

Taking risks in marketing automotive products and basing strategies on rich data to broadcast content across many platforms were just two themes highlighted during speeches, panel discussions and presentations by automotive, marketing and digital experts at this week’s J.D. Power Automotive Marketing Roundtable (AMR) held at the Bellagio Hotel in Las Vegas, Nev.

The Oct. 15-17 conference and networking event was attended by nearly 1,500 auto industry members, including OEM, dealership, search engine, and third-party website leaders. Some 40 corporations, led by Dealer.com and BrightRoll, along with companies such as eBay Motors, Cars.com, Nielsen, Pandora and LinkedIn, helped sponsor the annual comprehensive and future-driven conference. Continue reading ›

J.D. Power’s King Discusses U.S. Auto Market Shifts at Joint Conference

Thomas King Speaking at S&P ConferenceJ.D. Power’s Thomas King, senior director, Power Information Network® (PIN), recently shared insights on changes in new-vehicle demand in the U.S. market at the Standard & Poor’s/J.D. Power Auto Industry Hot Topics Conference in New York.

Analysts from S&P, J.D. Power, and strategic partner LMC Automotive, presented their views and analysis of the current and future state of the U.S. and global auto industry to an audience of more than 160 Wall Street analysts and reporters. Continue reading ›

Quiet Cars Influence OE Tire Satisfaction in Japan Market

Vehicle owners in Japan expect the tires that come with their vehicle from the factory to be perfect and without problems, according to our 2013 Japan Original Equipment Tire Customer Satisfaction Index Study. As vehicles become quieter, especially hybrids and electric vehicles, owners become more sensitive to noise and vibrations caused by their vehicle tires—a problem that is more prevalent than traction and handling issues.

The 2013 study, which examines problems that owners experience with their original equipment (OE) tires in the Japan market, finds that the two most frequently experienced problems owners have are pebbles or stones getting caught in the tire tread and road and vibration noise, which negatively affect ride, quietness and, ultimately, tire satisfaction. Continue reading ›