Luxury Vehicle Buyers in Brazil Have Higher Satisfaction Than Volume Vehicle Buyers, J.D. Power Finds

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1 Luxury Vehicle Buyers in Brazil Have Higher Satisfaction Than Volume Vehicle Buyers, Finds BMW and Hyundai-CAOA Rank Highest in Respective Segments SÃO PAULO: 4 April 2019 Buyers of luxury vehicles have higher satisfaction than buyers of volume vehicles in all five measures, according to the 2019 Brazil Sales Satisfaction Index (SSI) Study SM, published today. The greatest difference is seen in the areas of vehicle delivery process and interaction with the salesperson. We have noted changes in the importance of the five measures that contribute to the satisfaction index, said Fabio Braga, Director of Brazil Operations at Brazil. When this kind of shift occurs, one can be sure we re on the verge of a change in the customer profile. In the 2019 study, aspects linked to working out the deal and the salesperson increased in relevance among customers. Following are some key findings of the 2019 study: Customers not willing to wait more than a week: Satisfaction among buyers who received their vehicle between seven and eight days is 860 (on a 1,000-point scale). Following this period, satisfaction levels fall significantly, reaching 801 when exceeding 15 days. The study also shows that, on average, luxury vehicle buyers receive their vehicles nine days after the purchase. For volume brand buyers, delivery happens typically in 11 days. Promises must be kept: Meeting car delivery deadlines is a primary factor has a strong effect on satisfaction, directly influencing customer loyalty to the brand. The study reveals that 91% of buyers received their cars on the agreed date. Among them, satisfaction was 864. However, 9% of buyers said the delivery was not on the promised date, resulting in a steep decline in satisfaction (682). Implementing the process may guarantee the sale: The salesperson that follows every step of sales process has a better chance of securing a deal. For example, among the dealerships that closed the deal, 85% asked questions to learn exactly what the customer needed. Among shoppers that did not purchase, only 72% were asked the question. Another important measure is the test drive. In the selling dealership, 85% offered customers the chance to take a test drive, while only 63% of the rejected dealerships followed this procedure. Finally, 47% of the rejected dealerships tried to sell a vehicle the customer didn t want. Among the selling dealerships, only 29% adopted this process. Customers have sought third-parties sources to determine trade-in value: More than two-thirds (68%) of buyers purchased a vehicle that replaced another vehicle; 21% purchased an additional car; and 11% made their first-ever new-vehicle purchase. The study shows that 68% of buyers traded in their replaced vehicle in purchase process, while 53% used a third-party resource to determine how much trade-in value was worth. Study Rankings Hyundai-Caoa ranks highest among volume brands with a score of 871. Honda and Peugeot rank second in a tie with 859. Chevrolet ranks fourth with 858. BMW ranks highest among luxury brands with a record score of 883. Mercedes-Benz (879) ranks second. jdpower.com/business

2 The Brazil Sales Satisfaction Index Study, now in its seventh year, promotes an encompassing analysis of the new car sales experience and looks at customer satisfaction based on five measures (listed in order of importance): working out the deal (24%); delivery process (22%); salesperson (20%); dealership facilities (18%) and test drive (16%). The study is based on the survey responses of 4,630 new-vehicle owners in Brazil within 1-12 months of the purchase. The study was fielded from November 2018 through February is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable to help its clients drive customer satisfaction, growth and profitability. Established in 1968, has offices serving North America, South America, Asia Pacific and Europe. Media Relations Contacts Stephanie Celentano; São Paulo; (11) ; stephanie.celentano@geacomunicacao.com.br Mônica Pontes; São Paulo; (11) ; monica.pontes@geacomunicacao.com.br Geno Effler; USA; ; media.relations@jdpa.com About and Advertising/Promotional Rules # # # NOTE: Three charts follow.

3 Overall Sales Satisfaction Index Ranking: Volume Brands (Based on a 1,000-point scale) Hyundai-CAOA 871 Honda Peugeot Chevrolet Toyota Kia Hyundai-HMB Ford Volume Average Volkswagen Jeep Citroën Mitsubishi Renault Fiat Nissan CAOA-Chery 771 Source: as the publisher and the study from which it originated as the source. Rankings are based on numerical scores, and not necessarily on statistical significance. No advertising or other promotional use can be made of the information in this release or survey results without the express prior written consent of.

4 Overall Sales Satisfaction Index Ranking: Luxury Brands (Based on a 1,000-point scale) BMW 883 Mercedes-Benz 879 Luxury Average 870 Audi 858 Volvo 852 Land Rover 850 Source: as the publisher and the study from which it originated as the source. Rankings are based on numerical scores, and not necessarily on statistical significance. No advertising or other promotional use can be made of the information in this release or survey results without the express prior written consent of.

5 Factors Contributing to Overall Sales Satisfaction Dealership Facility 18% Test Drive 16% Variety of roads during the test drive Time taken during test drive Explanation of features Distance driven during test drive Test drive vehicle itself Appearance of facility Comfort of the area where negotiated for vehicle Ease of looking at dealer's inventory Variety of inventory Convenience of location Convenience of operating hours Working out the Deal 24% Ease of coming to an agreement on the final price Clarity of document explanation Honesty of the person that handled your paperwork/finance process Timeliness of completing the final paperwork process Fairness of price paid Wide range of payment options Salesperson 20% Knowledge/Expertise about vehicles Concern that you purchased the best vehicle for your needs Courtesy Responsiveness Honesty Salesperson's attention on you Fulfillment of commitments Delivery Process 22% Thoroughness in explaining the vehicle's features Timeliness of completing the final delivery Condition of your vehicle Ability to deliver vehicle at promised time Attention focused on you during delivery Enthusiasm of the staff in making the delivery process enjoyable Note: Percentages may not total 100 due to rounding. Source: as the publisher and the study from which it originated as the source. Rankings are based on numerical scores, and not necessarily on statistical significance. No advertising or other promotional use can be made of the information in this release or survey results without the express prior written consent of.