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View Full Version : Hyundai Ranked #4 in Customer Retention by J.D. Power and As


knicks125
12-21-2004, 12:33 PM
Hyundai Ranked #4 in Customer Retention by J.D. Power and Associates <p>FOUNTAIN VALLEY, Calif., Dec. 20 - In customer retention, the measurement of what percentage of vehicle owners purchase the same brand again, Hyundai vehicles were ranked by those surveyed as fourth in a recent study.<p>According to the J.D. Power and Associates 2004 Customer Retention study, the overall industry average for customer retention was 48.4 percent but Hyundai was able to retain 57.6 percent of its current owners in 2004 and was one of only 10 brands that were able to exceed the industry average in this second year of the J.D. Power and Associates study. <p>Among non-luxury brands, Hyundai finished in the top three. Hyundai also increased its customer retention rate from 54 percent in 2003 up to 57.6 percent in 2004.<p>In addition to measuring customer retention rates, the study also analyzes the reasons consumer defect from the brand they own and are captured by other brands when they purchase a new vehicle. An important factor in defection is based on owners' experiences with previous vehicles. Owners often defect from their brand because they had problems with long-term durability, high maintenance costs or poor experiences with dealer service. <p>Conversely, brands are often able to capture new customers with attractive rebates and incentive offers, better vehicle styling, more cargo capacity, high resale value and better fuel economy. <p>"We are proud that Hyundai owners show their brand loyalty by choosing to buy another Hyundai vehicle nearly 60 percent of the time," said Bob Cosmai, president and CEO of Hyundai Motor America. "Once they experience the styling, comfort and durability of Hyundai vehicles, customers elect to buy another Hyundai. It is important to earn the respect of our customers and we are excited that our vehicles and our dealers are doing just that," he added. <p>The J.D. Power and Associates 2004 Customer Retention Study is based on responses from more than 171,000 new vehicle buyers and lessees, of which 103,088 replaced a vehicle that was originally purchased new.<p>This is great for Hyundai <IMG NAME="icon" SRC="http://www.germancarfans.com/images/forums/beigesmilewinkgrin.gif" BORDER="0"> <p>Looking for the press release from JD Power on this article.

knicks125
12-21-2004, 12:40 PM
Here is the press release...<A HREF="http://www.jdpa.com/presspass/pr/pressrelease.asp?ID=2004202" TARGET="_blank">http://www.jdpa.com/presspass/...04202</A><p>Top 5:<p>Toyota<br>Lexus<br>Chevrolet<br>Hyundai<br>Honda<br>(the rest can be found in the press release)<p>Not surprised the majority of the top five were from Asia...with the exception being Chevy (US), although I was a little surprised german brands didn't even make top 7 - MB was the first at #8.

zwei Biere bitte
12-21-2004, 01:33 PM
Wow, Hyundai has really mad progress in quality and customer satisfaction lately. Good for them, they deserve this.