We have talked about increasing the price of new cars on several occasions, but we need to return to the topic again. Things are not expected to normalize until the end of next year and this time, a new study from JD Power sheds more light on customer satisfaction with vehicle purchases in the United States – and the figure is down for the first time in more than 10 years. . There were some clear winners in the study, but overall, the industry is in decline compared to last year’s results.
As new car prices start to rise in 2021, customer satisfaction remains high thanks to higher-than-expected trade-in values. However, the situation has continued to improve this year and new vehicle inventories are at a record low. This, in turn, allows dealers to charge higher rates than the MSRP, which lowers the satisfaction index. JD Power said that the price fairness index has continued to decline in recent years.
Regardless of market conditions, there are always winners and losers. Alfa Romeo topped the study in the premium segment this year with a satisfaction score of 833, well above the industry average of 786. Porsche came in second with a score of 831, while Lexus came in third with a score of 819. In the mainstream segment, Buick ranks first with a score of 825, followed by Dodge (816) and Subaru (804), all of which performed higher than the industry average.
In general, the JD Power study concluded that – and this shouldn’t come as much of a surprise – customers are happier when they pay less. Satisfaction among buyers who paid more than the sticker price was 757, while satisfaction among those who paid a much higher sticker price was 850. About a quarter of mass-market customers paid more than the MSRP, while that percentage dropped to 19 percent in the premium sector.
As for the top performing brands in the study, Alfa Romeo appears to be doing a good job of keeping its customers happy at a time when new car prices are high and deliveries are slow. With fresh new products coming soon, this trend is likely to continue – and the announcement of a supercar expected in 2023 is sure to help the marque’s image.
