In-Vehicle Telematics Most Important to Frequent New Vehicle Buyers
4 January 2001
In-Vehicle Telematics Most Important to Frequent New Vehicle Buyers According to Latest Polk Study
Electronic Accessories More Important to Women Than to Men
DETROIT, Jan. 4 High-tech electronic accessories, such as
vehicle navigation systems and entertainment centers, are more important to
frequent new vehicle buyers (those that purchase every year or every two to
three years), according to a study released by Polk, the longest-standing
curator of automobile records in the United States. As expected, the more
often a consumer purchases a new vehicle, the more important the latest
electronics are to them.
"Consumers will find an increasing number of automotive communication
devices available in the very near future, as the market for telematics
reaches billions of dollars within the next four years," said Yolanda Reid,
Polk Loyalty Research Manager. "The automobile will soon be perceived as much
more than a mode of transportation -- it will be a mobile communication and
entertainment center as well. And the auto industry is doing its best to stay
on the cutting edge of technology, with recent developments including
voice-activated controls, on-line mapping systems and in-vehicle access to
e-mail."
According to the Polk study, consumers who purchase a new vehicle every
one to three years are more likely to look for the latest electronic features
in their new vehicles. And because these frequent buyers often purchase a
newly introduced or re-designed vehicle, automakers and suppliers have an
ongoing opportunity to introduce new telematics to a niche group of consumers
that's always looking for the latest.
Frequency of New Vehicle Purchase/Lease % Rating Unique Accessories
Very or Extremely Important
Every Year 21.8%
Every 2-3 Years 18.9%
Every 4-5 Years 15.7%
Every 6 or More Years 13.6%
Average 16.3%
Source: Polk's Manufacturer Loyalty Excelerator(TM) Survey -
1st Half of 2000 Model Year
Design of Newly Purchased/Leased Vehicle % Rating Unique Accessories
Very or Extremely Important
First introduced this Model Year 21.7%
Re-introduced or re-designed from
a previous model year 17.8%
No major design changes 13.7%
Source: Polk's Manufacturer Loyalty Excelerator(TM) Survey -
1st Half of 2000 Model Year
The study also found that women (18.1 percent) place more importance on
state-of-the-art electronic accessories when purchasing a new vehicle than do
men (15.1 percent).
"Women represent a strong purchasing force in the auto industry," said
Reid. "The auto industry estimates that more than 11 million people will have
access to telematics within the next four years. And since women make up a
significant part of this market, automakers will need to keep in tune with
what women want in their vehicles to help them with their already hectic
lives."
Polk's Manufacturer Loyalty Excelerator(TM) report, which is the basis for
the Polk Automotive Loyalty rankings and annual awards, is the latest insight
into this type of consumer behavior. This report was introduced to the
automotive industry in 1995 and was created to provide household loyalty
information to manufacturers at many different levels. It is being used to
provide loyalty percentages for the entire automotive industry to allow for
cross-industry comparisons of loyalty behavior and to examine loyalty at
various levels from the industry level down to the vehicle line level. The
report measures loyalty throughout the entire model year so manufacturers may
keep abreast of loyalty trends as they occur in the industry.