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Posts Tagged ‘new vehicle buyers’

‘Under Water’ Trade Ins Hitting New High Water Levels

New car buyers taking bigger hits to get new vehicles.

by on Nov.28, 2016

New car buyers are trading in vehicles with more negative equity than ever — almost $5,000 on average.

A new statistic reveals that these days if Americans want a new car, truck or utility vehicle, they’ll do just about whatever it takes to get a deal done — including taking a huge hit on their trade in.

According to Edmunds.com, about 32% of all vehicles traded in on a new vehicle through September this year were “upside down.” That is to say, the owner owed more on the vehicle than it was worth, and the number is rising. It was 30% for the same period last year.

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That negative equity averaged $4,832. In short, add $5K to the price of that next vehicle being purchased. (more…)

High-Tech Safety Features “APEAL” to Consumers, Finds New JD Power Study

European luxury makers overwhelmingly dominate 2016 APEAL study.

by on Jul.27, 2016

BMW's new 750i is expected to bolster the company's sales, but it's also improving its image with buyers.

New vehicle buyers have come to expect – and appreciate – the latest in high-tech safety systems. And those manufacturers who offer such technologies as blind-spot detection and forward collision warning scored especially well in the latest J.D. Power APEAL study.

Designed to go beyond traditional quality and reliability numbers, APEAL probes buyers about what features they find most exciting – and which are likely to get them back into showrooms to buy the same model or brand in the future. The results of the 2016 study show European brands such as Porsche, BMW and Jaguar, that offers the broadest suites of safety gear coming out on top.

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“Technology-enabled safety features help drivers feel more comfortable and confident while driving their vehicles,” said Renee Stephens, vice president of U.S. automotive quality at J.D. Power. (more…)

Quality Issues, Higher Prices Make New Car Buyers Cranky in 2014

Better vehicles don’t equate to happy customers, survey shows.

by on Aug.31, 2015

Lexus finished atop the most recent American Customer Satisfaction Index beating Mercedes.

Despite the fact that new vehicles have more convenience and safety features than ever – equipment expected by new vehicle buyers – those same people are growing tired of the quality issues and higher prices that often come with those add-ons.

Car buyer satisfaction fell 3.7% in 2014, the third year in a row, to 79 on a scale of 100, according to the American Customer Satisfaction Index. The slide isn’t entirely unexpected as the industry recalled more than 60 million vehicles last year.

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Owners reported a 40% increase in recalls in the second quarter of last year, the ACSI reported. Many of the actions were related to the electronics and safety options that are supposed to make driving safer and more enjoyable. (more…)