Latest Technology Reason Buyers Purchase Domestic
Vehicles
WESTLAKE VILLAGE, Calif. January
2014; New technology offerings in vehicles are important to
new-vehicle buyers who purchase domestic models, as 38 percent of those
buying domestic vehicles cite the latest technology features as a reason
for their purchase, compared with 33 percent of import vehicle buyers,
according to the J.D. Power 2014 U.S. Avoider StudySM released
today.
Additionally, domestic vehicle buyers
who previously owned an import model are even more likely to purchase a
domestic model due to its new technology and features
(40%).
"Domestic brands in general are carving out
a niche for themselves by offering vehicles with the latest technological
features, and it appears to be getting the attention of consumers," said
Jon Osborn, research director at J.D. Power. "It's important for automakers
to understand what motivates new-vehicle buyers to shop and purchase a
particular model and focus on promoting those top purchase influencers to
differentiate themselves and gain market
share."
KEY FINDINGS
-- Among
both import and domestic new-vehicle buyers, latest technology is among the
top 10 purchase reasons indicated at the industry level.
-- For a
third consecutive year, gas mileage continues to be the most influential
purchase reason at the industry level (15%) and is the
second-most-frequently cited reason for rejecting a vehicle, behind
price.
-- Exterior styling remains the most influential reason
for new-vehicle buyers to avoid shopping other models in the segment in
which they purchased (33%).
-- Slightly more than eight in 10
(81%) new-vehicle buyers who use the Internet for automotive shopping cite
accessing online ratings and reviews prior to purchasing their vehicle.
Fifteen percent of new-vehicle buyers cite online ratings and reviews as a
reason they avoided a specific vehicle, up 4 percentage points from
2010.
-- Among new-vehicle buyers who purchased an electric
vehicle, more buyers say that they did so due to environmental concerns
(32%) than gas mileage (29%).
The
study also finds that the top five most influential purchase reasons
among luxury and mass market new-vehicle buyers
are:
Luxury
1. Performance (power,
handling, etc.)
2. Quality of workmanship
(materials, fit and finish)
3. Exterior styling (design)
4. Like the image this
vehicle portrays
5. Reliability (freedom
from breakdowns)
Mass
Market
1. Gas mileage (fuel economy)
2.
Reliability (freedom from breakdowns)
3. The "Deal" (interest
rates/rebates)
4. Exterior styling (design)
5.
Performance (power, handling, etc.)
The 2014
Avoider Study is based on responses from approximately 29,000 owners who
registered a new vehicle in April and May 2013. The study was fielded
between
July and September 2013. The study, now in its 11th year,
examines
the reasons consumers purchase, reject and why they do not consider--or
avoid--particular models when shopping for a new vehicle