J.D. Power And Associates Reports: New-Vehicle Shoppers Are Considering More Models, As Concerns Regarding Reliability Diminish
"The impact that design and brand image have on new-vehicle shoppers is substantial," said Osborn. "Shoppers are concerned about what the vehicle says about them as people and how it can express their individual tastes, just as much as it is about being reliable or holding its value throughout the tenure of ownership."
Gas mileage remains the most influential purchase reason, similar to 2012, with 15 percent of new-vehicle owners in 2013 saying it was the primary reason for purchasing their vehicle. Although young owners (under age 25) cite gas mileage as the most influential purchase reason more often than their older counterparts, owners in all age groups indicate gas mileage is the most influential purchase reason.
Alternative Powertrain VehiclesNew-vehicle shoppers avoid hybrid or electric vehicles because of cost/price (36%) and exterior styling (25%) more than any other reasons. Even when considering a hybrid or electric vehicle, 36 percent of shoppers cite price/payment as the primary reason for rejecting them as a purchase option.
Although the cost and styling of hybrid and electric vehicles detract some shoppers from considering them, among those who purchased a hybrid or electric vehicle, 95 percent say that they did so due to gas mileage, while 62 percent say that it was due to environmental impact.
"Hybrid and electric vehicle owners want to get the most out of a gallon of gas and minimize the environmental impact, even if that means spending more money to purchase the vehicle," said Osborn.The 2013 Avoider Study is based on responses from approximately 31,000 owners who registered a new vehicle in May 2012. The study was fielded between August and October 2012. About J.D. Power and AssociatesHeadquartered in Westlake Village, Calif., J.D. Power and Associates is a global marketing information services company providing forecasting, performance improvement, social media and customer satisfaction insights and solutions. The company's quality and satisfaction measurements are based on responses from millions of consumers annually. For more information on car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com. J.D. Power and Associates is a business unit of The McGraw-Hill Companies. About The McGraw-Hill CompaniesThe McGraw-Hill Companies (NYSE: MHP), a financial intelligence and education company, signed an agreement to sell its McGraw-Hill Education business to investment funds affiliated with Apollo Global Management, LLC in November 2012. Following the sale closing, expected in early 2013, the Company will be renamed McGraw Hill Financial (subject to shareholder approval) and will be a powerhouse in benchmarks, content and analytics for the global capital and commodity markets. The Company's leading brands will include: Standard & Poor's, S&P Capital IQ, S&P Dow Jones Indices, Platts, Crisil, J.D. Power and Associates, McGraw-Hill Construction and Aviation Week. The Company will have approximately 17,000 employees in more than 30 countries. Additional information is available at www.mcgraw-hill.com. J.D. Power and Associates Media Relations Contacts: John Tews; Troy, Mich.; (248) 312-4119; email@example.comSyvetril Perryman; Westlake Village, Calif.; (805) 418-8103; firstname.lastname@example.org No advertising or other promotional use can be made of the information in this release without the express prior written consent of J.D. Power and Associates. www.jdpower.com/corporate  Source: J.D. Power and Associates 2012 Vehicle Dependability Study SM SOURCE J.D. Power and Associates
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV