Blue Book Briefing
March 2010 - Blue Book Briefing
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· INDUSTRY INSIGHTS – Timely commentary from James Bell, executive market analyst for Kelley Blue Book’s kbb.com: INTO CALMER WATERS…BUT WITH A SINKING SHIP?
· LATEST NEWS & BLOGS ON KBB® GREEN – The latest news and blogs posted to KBB Green from the editorial staff of Kelley Blue Book’s kbb.com
· LATEST NEWS STORIES ON KBB.COM – The latest video and written news stories by the editorial staff of Kelley Blue Book’s kbb.com
· NEW-VEHICLE REVIEWS ON KBB.COM – All-new and updated video and written reviews from the editorial staff of Kelley Blue Book’s kbb.com
· Kbb.com: Brand Consideration, Loyalty for Korean, Domestic Auto Brands Increases
· Kbb.com Names Top 10 Family Cars for 2010
· Kbb.com Editors Name 10 Newest Car Crushes for Valentine’s Day
· Kbb.com: Toyota Brand Consideration, Vehicle Interest, Values Continue to Decline
· Kbb.com Traffic Surges for Hyundai Sonata Immediately Following Super Bowl Ads
· Kbb.com Study: Toyota Brand Consideration, Vehicle Interest Dramatically Drops Following Recall
· CDMdata, DealerTrack Integrate Products; Provide Dealers Enhanced Inventory Management Solutions
Into Calmer Waters…But With a Sinking Ship?
- James Bell, executive market analyst, Kelley Blue Book’s kbb.com
Can you believe that the “Big Automotive Market Collapse” is soon entering its third year? While nobody in this industry expected the times of 17 million+ new-vehicle sales to be sustainable, there was no way to expect they would rapidly drop around 40 percent…and stay there. The factors contributing to this realignment are still with us in the form of limited availability to credit, fuel prices that keep teasing the $3 line and households that continue to work on reducing overall debt. Until these three factors all swing toward resolution, we agree with many other projections for new-vehicle sales that hover around 11 million units per year. All things considered, 11 million per year is always better than the recent 10 million tallies.
Certain manufacturers are poised to take advantage of this slightly rising tide while others must be wondering “why me?” While Ford continues to rake in accolades and positive press, the large mortgage they took back in 2007 to fund this product renaissance now is demanding large interest payments. If their growing sales follow the overall slight market uptick, those payments should be easier to make.
General Motors also is well-placed from a product perspective, but has the double advantage of cleaning out much dark and dusty debt during last year’s managed bankruptcy process, as well as brands such as Pontiac and Saturn that were becoming expensive deadweight. General Motors is so well-poised that they may well roar past Ford in the very near future, even though they appear to be convinced of the damage that is done to their resale values by overproducing in an effort to show big volume.
Chrysler, and its caretaker Fiat, must be privately hoping for higher future fuel prices as they continue to build their plan that will introduce 14 new models in the next 36 months. Why higher fuel prices, you may ask? Well, Fiat is known in Europe as a master of fuel-efficient yet fun-to-drive and fun-to-be-seen-in smaller cars.
In previous years, all of this Big Three optimism would have to be tempered by the steam train juggernaut that was Toyota and, to a lesser degree, Honda. But Toyota’s recent recall struggles have cracked the perception gap seal, and with great new products from the Big Three as well as Hyundai, Kia, Subaru and others, the U.S. market “deck of cards” has been inexorably reshuffled. From our perspective, this is great news for the shoppers who spend so much time making sure they have all the information they need at kbb.com.
When markets are disturbed, the ultimate winner is the consumer as the dealers and manufacturers are forced to bring out all of their tricks to win and keep a buyer’s attention. When this is combined with slowly improving financial indicators, the U.S. market is finally starting to rev past “idle.”
LATEST NEWS & BLOGS ON KBB GREEN:
Check out the very latest news and blog entries by visiting www.kbb.com/green and clicking on News & Blogs.
The following latest news & blogs by kbb.com’s editorial staff went live on the site or were updated during February 2010.
· New Composite Material Could See Bodywork Replace Batteries
· Buy or Lease Your New LEAF From Nissan -- or Rent One From Hertz
· Nissan Locks $1.4 Billion in Funding for LEAF and Battery Programs
LATEST NEWS STORIES ON KBB.COM:
Check out the very latest news stories by visiting www.kbb.com and scrolling down to the Latest News & Articles link on the home page.
The following latest news stories by kbb.com’s editorial staff went live on the site or were updated during February 2010.
· 2011 BMW Alpina B7 Auto Show Video
· Buick Regal GS Concept Auto Show Video
· 2011 Buick Regal Interview Auto Show Video
· Cadillac XTS Concept Auto Show Video
· Cadillac Head of Design Auto Show Video
· 2011 Chevrolet Silverado HD Auto Show Video
· Delta Wing Concept Auto Show Video
· 2011 Ford Edge Auto Show Video
· GM Electric Vehicle Auto Show Video
· Honda Odyssey Concept Auto Show Video
· Interview Video, Jim O'Sullivan from Mazda
· Seven Cars and a Six-Foot Sandwich Video
· Suzuki Grand Vitara Feature Video
Written Stories Posted to kbb.com:
· 2010 Chicago Auto Show: 2010 Dodge Challenger Fuchsia Editions
· 2010 Chicago Auto Show: 2010 Nissan 370Z 40th Anniversary Edition
· 2010 Chicago Auto Show: 2010 Scion tC RS 6.0
· 2010 Chicago Auto Show: 2011 BMW Alpina B7
· 2010 Chicago Auto Show: 2011 Chevrolet Silverado HD
· 2010 Chicago Auto Show: 2011 Ford Edge
· 2010 Chicago Auto Show: 2011 Ford Shelby GT500
· 2010 Chicago Auto Show: 2011 Ford Transit Connect Electric
· 2010 Chicago Auto Show: 2011 Hyundai Azera
· 2010 Chicago Auto Show: 2011 Toyota Avalon
· 2010 Chicago Auto Show: Chevrolet Suburban Turns 75
· 2010 Chicago Auto Show: DeltaWing IndyCar Concept
· 2010 Chicago Auto Show: Ford Transit Connect Taxi
· 2010 Chicago Auto Show: Honda Odyssey Concept
· 2010 Chicago Auto Show: Kia Ray Concept
· 2010 Chicago Auto Show: Mazda Talks New Vehicles, Racing
· 2010 Geneva Auto Show: 2011 Bentley Supersports Convertible
· 2010 Geneva Auto Show: 2011 Jaguar XKR Special Edition
· 2010 Geneva Auto Show: 2011 Lotus Elise
· 2010 Geneva Auto Show: 2011 Nissan Juke Breaks Cover
· 2010 Geneva Auto Show: Citroen DS High Rider Concept
· 2010 Geneva Auto Show: Hyundai i-flow Concept Teaser
· 2010 Geneva Auto Show: IED Tesla EYE Concept
· 2010 Geneva Auto Show: Italdesign Giugiaro-Proton City Car Concept
· 2010 Geneva Auto Show: Mercedes-Benz F800 Style Concept
· 2010 Geneva Auto Show: Opel Flextreme GT/E Concept
· 2010 Geneva Auto Show: Porsche 911 GT3 R Hybrid
· 2010 Geneva Auto Show: Rinspeed UC? Concept
· 2010 Nissan Frontier Earns Top Marks in IIHS Rollover Test
· BMW Will Offer Competition Package for U.S. 2011 M3 Models
· Continuing Coverage: Kelley Blue Book Experts Weigh In on Toyota
· Continuing Coverage: Toyota Recall and Sales Freeze
· Feds Schedule Hearings on Toyota Recall and NHTSA Involvement
· First Look: 2011 Porsche Panamera and Panamera 4
· First Look: 2011 Volkswagen Touareg
· Ford to Update Brake Software on 2010 Fusion and Milan Hybrids
· Geneva Auto Show: 2011 Kia Sportage
· Geneva Auto Show: 2011 Porsche 911 Turbo S
· Geneva Auto Show: Protoscar LAMPO2 EV Concept
· Geneva Auto Show Preview: Bertone Teases New Alfa Coupe Concept
· Geneva Auto Show Preview: Ferrari 599 Hybrid Concept
· Geneva Auto Show Preview: Pininfarina-Alfa Spyder Concept
· Geneva Auto Show Preview: Renault Wind
· Happy Chinese New Year: See the 10 Best-Selling Cars in China
· Infiniti Mounts Pre-Launch Coming Out Party for New 2011 M Series
· Kelley Blue Book's Top 10 Family Cars for 2010
· NHTSA Begins New Probe of 2010 Toyota Prius Brakes
· New TRW Key Fob Integrates Tire-Pressure Monitoring Function
· Seven Cars and a Six-Foot Sandwich Video
· Spyker Details its Future Plans for Saab
· Toyota Owners, Shoppers: Sticking-Throttle Recall and Stop-sale Q&A
· Toyota U.S.A. President Jim Lentz Testifies Before House Committee
· Toyota Update: Pedal Fix Approved, Will Start Later This Week
· Watch and Vote on the Super Bowl Car Commercials
· Young Love: Our 10 Newest Car Crushes
NEW-VEHICLE REVIEWS ON KBB.COM - WRITTEN:
The following new-vehicle reviews written by kbb.com’s editorial staff went live on the site or were updated during February 2010. To see any new-vehicle review from kbb.com’s editorial staff, please visit www.kbb.com and click on the News and Reviews tab, then select the make and model.
By combining manageable dimensions with seven-passenger capacity, a comfortable highway ride with responsive in-town handling and car-like construction with respectable off-pavement capability, the MDX has been one of our favorite SUVs since its introduction for the 2001 model year. In fact, as it trails only the Lexus RX 350 in category sales, the MDX has proven to be a favorite of many. For 2010, Acura has made a number of improvements with new emphases on performance, technology and styling. Fortunately, the characteristics that made the original MDX appealing are still present in the current model…
Growing up doesn't necessarily have to mean growing old. For car buyers who have graduated to a luxury-grade four-door, the desire to rip down a twisty road may be equal to the need for a comfortable daily commuter. Plot these two lines on a graph and, at the point of intersection, you'll see parked the 2010 Audi S4. Boasting refinement that hop-up tuners could only dream of, the newly-supercharged S4 serves double duty as coddling people-mover and four-wheeled stimulant. Behind its understated but aggressive appearance, Audi's 2010 rendition of the S4 packs more power than a BMW 335i, better fuel economy than an Infiniti G37 and handling that rivals the world's best sport sedans…
2010 Chevrolet Corvette Grand Sport
Few question that Chevrolet's sixth-generation Corvette is the best ever, or that the racer-like 505-horsepower $75,000 Z06 and the awesomely faster and surprisingly refined supercharged 638-horse $108,000 ZR1 models are the best high-performance sports car values on the market. But there has been a very substantial gap between the $50,000 base Corvette and that Z06. Now Chevy has introduced a pair of ultimate gap fillers, the 2010 Corvette Grand Sport Coupe and Convertible, for a mere $5,000-6,000 premium over base models. Chevrolet expects these Grand Sports to account for about half of 2010 Corvette sales, and – given their aggressive good looks and outstanding performance value – we see no reason to doubt that prediction…
The 2010 Ram Heavy Duty is the best heavy-duty pickup ever. For now, anyway. Dodge is first out of the gate, but Ford and Chevy are prepping new versions of their own workhorses, to be unleashed in 2010, and then it'll again be a level playing field. Until then, Ram HD gets to play undisputed king in an important segment, as heavy-duty pickups account for about a third of the massive full-size truck market…
The 2010 Kia Optima continues to offer buyers a well-built, well-equipped family sedan for less money than the competition. Over the last few years Kia has made impressive strides in both quality and content and, while not yet on par with such giants as the Honda Accord and Toyota Camry, the Optima comes very close. The Optima provides a roomy, comfortable interior, a large trunk and a choice between a fuel-efficient four-cylinder or a powerful V6 engine. Even the most basic models include such standard safety features as side-curtain airbags and front-seat active head restraints…
Consumers on budgets have learned that finding a new sedan for around $12,500 is not easy. And finding one with standard front and rear side-curtain airbags and a 10-year/100,000-mile powertrain warranty leaves only one option: The 2010 Kia Rio. The Rio's bargain-basement price doesn't come at the expense of styling or fuel economy. The handsome little four-door is quite the looker, and those willing to spend a bit more cash can equip this little entry-level econobox with such upscale features as power windows, steering-wheel audio controls and heated outside mirrors. The Rio has also made great strides in refinement over previous models, with more precision in the gearshift, less vibration from under the hood and a higher quality feel both inside and out…
Kia continues to take small cars seriously. When the South Korean automaker launched a wagon companion to its subcompact Rio Sedan for 2001, that hatchback was called the Rio Cinco ("five" in Spanish), to denote the number of doors. The Cinco name may be gone, but the five-door hatchback remains with a simpler name: The 2010 Kia Rio5. Sharing much of its design with the Rio Sedan, the Rio5 has a sportier demeanor about it, not to mention a more versatile cargo hold. And, despite the Rio5's "entry-level" pricing, Kia installs six standard airbags in every vehicle. Kia claims to be the most improved brand in terms of initial quality over the past five years. A half decade ago it had serious room for improvement, but now it is certainly in the mainstream of vehicle quality…
Those who remember the original Sportage SUV probably won't recognize the current model. Gone are the body-on-frame architecture, somewhat harsh ride and moderate engine power. The 2010 Kia Sportage derives its underpinnings from a car platform to give it a smooth ride, improved handling and better crash-test results. The trade-off is an inability to tackle the harshest sorts of off-road terrain (the Sportage lacks a high/low transfer case and locking differentials), but heavy snow and mud are still easily managed. And, while the humble Sportage must contend with perennial favorites such as the Honda CR-V and Subaru Forester, many people will find its low price and long list of standard features quite tempting…
KBB.COM: BRAND CONSIDERATION, LOYALTY FOR KOREAN, DOMESTIC AUTO BRANDS INCREASE
Non-Toyota Owners Become More Loyal to their Current Brands while Toyota Owners’ Loyalty, Consideration Declines
IRVINE, Calif., February 17, 2010 – According to the latest Kelley Blue Book www.kbb.com Market Intelligence data, in the wake of the Toyota recall crisis, brand loyalty has significantly increased for Korean and domestic automakers such as Kia, Hyundai, Chevrolet and Ford. While non-Toyota owners are becoming more loyal to their current brands, Toyota brand consideration and loyalty have declined.
When comparing current kbb.com data to Q4 2009, Korean import automakers have seen the greatest recent increase in loyalty and consideration, with Kia and Hyundai owners looking at new models within their respective brands increasing by 17.1 and 10.5 percentage points to 56.1 and 56.5 percent respectively.
In the same timeframe, domestic U.S. automakers Chevrolet and Ford also have seen an increase in loyalty, with Chevrolet and Ford owners looking at new models within their respective brands increasing by 6.5 and 4.6 percentage points to 52.5 and 48.9 percent respectively.
“The latest Kelley Blue Book Market Intelligence data from kbb.com suggests great news for Korean and domestic American automakers which are now seeing the initial signs of more repeat customers and increased brand loyalty,” said James Bell, executive market analyst for Kelley Blue Book’s kbb.com. “Current owners of vehicles from the likes of Kia, Hyundai, Ford and Chevrolet are likely impressed with the latest round of new models they see debuting from these manufacturers, and this indication toward increased loyalty should translate well to the bottom line of these manufacturers in the near future.”
Meanwhile, loyalty among Toyota owners and brand consideration for new Toyotas among owners of other brands, have declined. A fewer percentage of Toyota owners are looking at new Toyotas, down 6.5 percentage points to 51 percent. Additionally, owners of other brands are less likely to consider new Toyotas, down five-to-eight percentage points in the current period when compared to Q4 2009.
Among Toyota owners, Kelley Blue Book Market Intelligence is seeing interest shift toward Ford, Hyundai and Kia. At the same time, Toyota owners are less likely to consider other Japanese automakers, including Honda and Nissan.
“This finding is the most interesting of all,” said Jack R. Nerad, executive editorial director, Kelley Blue Book and kbb.com. “One might have guessed Toyota owners would switch their allegiance to other Japanese brands, but instead they seem to be turning away from Japanese brands as a category. It’s just another indication of the far-reaching effects of these recall-related issues.”
This Kelley Blue Book Market Intelligence data analysis examined site traffic to used-car trade-in pages and new-car pricing report pages on Kelley Blue Book’s kbb.com, and compared loyalty and consideration data from Q4 2009 to January 27 – February 10, 2010.
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KBB.COM NAMES TOP 10 FAMILY CARS FOR 2010
Editors Compare Important Factors, Recommend a Wide Variety of Vehicles to Meet Every Family’s Needs
IRVINE, Calif., February 16, 2010 – The Top 10 Family Cars for 2010 today were named by the expert editors from Kelley Blue Book, www.kbb.com, the leading provider of new car and used car information. In the list, the kbb.com editors recommend what they feel are the very best of the best vehicles for families this year, highlighting specific important attributes for each car and detailing why it made the Top 10 for 2010.
If safe, roomy and affordable are the characteristics that qualify a vehicle as a family car, then the American family has never had so many choices. While a sea of options is ultimately a good thing, it can also make it more difficult for families to pick a winner. To help ease the pain, every year Kelley Blue Book’s kbb.com assembles a list of the Top 10 New Family Cars, evaluating an ever-lengthening list of eligible vehicles on such factors as resale value, fuel efficiency, capability and kid-friendliness. This year’s list features vehicles in a range of sizes and prices, offering something for a wide variety of families -- everything from an SUV that can comfortably accommodate nine passengers to a compact, fuel-efficient wagon capable of taking the road less traveled.
“While the product landscape in the new-car world seems ever-changing, the vehicle needs of the typical American family remain fairly constant; capable versatility, value, safety and economical factors usually remain top-of-mind,” said Jack R. Nerad, executive editorial director and executive market analyst for Kelley Blue Book’s kbb.com. “There are many competent choices available on the market today, but the kbb.com editors chose a wide variety of what we feel are the Top 10 Family Cars that should be on every family’s consideration list for 2010.”
Select Choices from kbb.com’s Top 10 Family Cars for 2010 List
2010 Hyundai Elantra Touring
2010 Ford Taurus
2010 Honda Accord Crosstour
2010 Chevrolet Equinox
2010 Subaru Outback
For the remaining five vehicles on the Top 10 list, including full editorial commentary and reasoning behind each of the editors’ picks, visit the Top 10 Family Cars for 2010 story in kbb.com’s Latest News section at www.kbb.com/Top10FamilyCars.
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KBB.COM EDITORS NAME 10 NEWEST CAR CRUSHES FOR VALENTINE’S DAY
IRVINE, Calif., February 11, 2010 – The 10 Newest Car Crushes today were named by the expert editors from Kelley Blue Book, www.kbb.com, the leading provider of new car and used car information.
Valentine’s Day may come but once a year, but the editors of Kelley Blue Book’s kbb.com seem to fall in love every few months at auto shows across the country and around the world, where automakers reveal their newest cars and concepts. The 2009-2010 auto show season kicked off last September in Frankfurt, traveled to Tokyo, continued in Los Angles, then made its first 2010 stop in Detroit, and now is settling into Chicago for the next few weeks. At every auto show along the way, the kbb.com editors are enamored by brawn, brains and curves in a variety of shapes and sizes.
In honor of Valentine’s Day 2010, the kbb.com editors have chosen their 10 Newest Car Crushes; or, as they like to think of it, the cars they’d most like to ask out on a second date. Explaining their choices in detail, the editors describe the ‘sexy profile’ of one model while referring to another as ‘a hot little sibling,’ and even compare another car to ‘a hot hippy with tattoos and piercings: eco-friendly with a wild side.’ Other vehicles evoke the love/hate feelings that movie characters experience in a ‘cliché romantic comedy,’ while the editors think one model beckons ‘like the return of an old flame.’
“With so many interesting and beautiful new production cars and concepts introduced during auto shows, our kbb.com editorial staff constantly find themselves having new car ‘crushes,’ cars they can’t wait to see and drive again,” said Jack R. Nerad, executive editorial director and executive market analyst for Kelley Blue Book’s kbb.com. “With Valentine’s Day right around the corner, we decided to assemble a list of hot new cars that would even make Cupid blush.”
Select Choices from kbb.com’s 10 Newest Car Crushes List
2011 Cadillac CTS-V Coupe
2011 Lexus LF-A
BMW Vision Efficient Dynamics
2011 Porsche Boxster Spyder
Chevy Aveo RS Concept
For the remaining five vehicles, including full editorial commentary and reasoning behind each of the editors’ picks, visit the Young Love: 10 Newest Car Crushes story in kbb.com’s Latest News section.
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KBB.COM: TOYOTA BRAND CONSIDERATION, VEHICLE INTEREST, VALUES CONTINUE TO DECLINE
Study Shows Week-Over-Week, More Consumers Defecting from Toyota, Lexus, Scion Brands
IRVINE, Calif., February 10, 2010 – According to the latest Kelley Blue Book www.kbb.com Market Intelligence data, Toyota consideration and interest has dropped even further in the past week as the company continues to issue massive recall announcements. The latest kbb.com study results show 27 percent of those who said they were considering a Toyota prior to the recall now say they no longer are considering the brand for their next vehicle purchase, an increase of six percent from the 21 percent who indicated they had defected from Toyota the prior week (immediately following the initial recall announcement).
In addition, now 28 percent of those who said they were considering a Scion and 23 percent of those who said they were considering a Lexus prior to the Toyota recalls, now say they are no longer considering those brands.
Now nearly half (49 percent) of the car shoppers who have defected from Toyota say they are not sure if they will consider the brand again, even once Toyota’s problems are resolved.
Kelley Blue Book updates its famous Blue Book® Values on a weekly basis, and the values continue to fall for Toyota models affected by the recall announcements. On February 5, 2010, company analysts initially decreased the used-car values of recalled Toyotas by 1 - 3 percent in response to the slowing demand for Toyota models in the marketplace following the consumer recall. This coming Friday, February 12, Kelley Blue Book will once again adjust values for these vehicles downward by an additional 1.5 percent on concerns around the growing supply of unsold Toyotas on both dealer lots and at auctions. The latest announcements about new 2010 Priuses and late-model 2009-2010 Corollas also have affected not just used-car values, but also new-car (transaction) values. After the latest Prius recall news, consumers can pick up a brand-new 2010 Prius closer to dealer invoice price than its suggested retail price, a difference of $1,000 - $1,500.
Kelley Blue Book Values Summary for Toyota
· All Used Recalled Toyota Models: Used-car values declined 1-3 percent (depending on the model) on February 5, 2010, and will drop an additional 1.5 percent on Friday, February 12, 2010
· New 2010 Prius: New Car Blue Book® Value (transaction price) will drop by $1,000 - $1,500 on February 12, 2010
· Used Prius, 2009 and older models: Used-car value dropped 1.5 percent on February 5, 2010, and will drop an additional 1.5 percent on February 12, 2010
· Used Corolla, 2009 and older models: Used-car values dropped 1.5 percent on February 5, 2010, and will drop an additional 1.5 percent on February 12, 2010
“We are seeing a softening of both used Toyota values and the New Car Blue Book values of new Toyotas this week,” said Juan Flores, director of vehicle valuation, Kelley Blue Book. “The softening of values is a product of weakened consumer demand, and the realization that Toyota is going to have to offer lower prices to get some consumers to consider Toyota vehicles again.”
In addition to the values decline, site traffic from Kelley Blue Book’s kbb.com detailed in the company’s Market Watch® report also shows a continued decline in Toyota interest in the wake of the recall announcements. Toyota models have seen an overall 25 percent decline in page views since the recall news initially broke. Even Toyota models not specifically involved in the recall continue to see a decline in page views, demonstrating the negative impact the recall is having on current interest in all Toyota vehicles, not just the models named in the recall.
“It seems the longer Toyota is the subject of daily headlines with the continuing recall news, the more consumers are reacting negatively by defecting from Toyota, Lexus and Scion. We are seeing shoppers on kbb.com lean more toward competitors, especially the domestics like Ford and Chevy who are offering enticing conquest incentives,” said James Bell, executive market analyst for Kelley Blue Book’s kbb.com. “Toyota is going to have to work extra hard for quite some time to overcome the ‘double-whammy’ it is seeing with the continuing drop in values and consumer brand consideration.”
When comparing Toyota’s perceived safety ratings in Kelley Blue Book Market Intelligence’s Brand Watch® survey from the week prior to the recall to the past week, the brand has experienced a drop from 8.4 to 7.0 (on a 10-point scale).
Some of Toyota’s primary competitors are benefiting from the negative impact of the recall news. Many car shoppers now indicate they are considering brands they were not considering prior to the Toyota recall news, showing increased interest in Ford (eight percent), Chevrolet (seven percent), Hyundai (five percent) and Honda (five percent).
Of those competing brands offering specific incentives to Toyota owners/shoppers, Ford is garnering the most consumer attention, with 16 percent of car shoppers saying they were not considering a Ford prior to the Toyota recall but now are (due to Ford’s Toyota-specific incentives). Chevrolet is in second place with eight percent saying they were not considering a Chevy prior to the recall news, but now are (due to Chevy’s Toyota- specific incentives).
Toyota’s share of dealer leads submitted by consumers on Kelley Blue Book’s kbb.com also have experienced a decline since the recall news was announced, demonstrating the immediate impact the recall is having on Toyota dealers across the United States who are seeing fewer consumers interested in the models they sell.
This Kelley Blue Book Market Intelligence study on the Toyota recall was fielded to a total of 691 in-market car shoppers on Kelley Blue Book’s kbb.com from January 29 – February 8, 2010 (Wave One was January 29 – February 1, 2010 with 406 respondents; Wave Two was February 4 – 8, 2010 with 285 respondents). Brand Watch data cited compared Toyota brand consideration from January 12-18, 2010 to February 4-8, 2010. Market Watch data cited compared Toyota model page views on kbb.com from the week of January 18, 2010 to the week of February 1, 2010.
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KBB.COM TRAFFIC SURGES FOR HYUNDAI SONATA IMMEDIATELY FOLLOWING SUPER BOWL ADS
Car Shoppers Choose Dodge Charger’s “Man’s Last Stand,” Audi A3 TDI “Green Police” Super Bowl Ads as Favorites
IRVINE, Calif., February 9, 2010 – Kelley Blue Book, www.kbb.com, the leading provider of new and used car information, today reports a huge surge in new-car Web traffic for the heavily advertised Hyundai Sonata during Super Bowl XLIV on Sunday, February 7. In addition, kbb.com saw a significant lift in new-car traffic for the Honda Accord Crosstour and Kia Sorento following the airing of their respective new-vehicle ads during Super Bowl Sunday.
For the second year in a row, the new-car model most advertised by Hyundai during the Super Bowl garnered the largest increase in Web traffic to kbb.com that day (among models advertised during the Super Bowl). This year, Hyundai advertised the all-new Sonata multiple times on Super Bowl Sunday and subsequently experienced a massive 91 percent increase in traffic to the new Sonata on kbb.com. Last year during Super Bowl XLIII on February 1, 2009, Hyundai premiered spots for the Genesis and saw an 82 percent increase in traffic to the model that day.
Other big auto-related Super Bowl XLIV ad traffic winners for this year were the Honda Accord Crosstour with a 66 percent increase in traffic on kbb.com, and the all-new Kia Sorento with a 47 percent increase.
New-Car Models Seeing Increased Web Traffic on kbb.com Following their Brands’ Respective Super Bowl XLIV Ads
Hyundai Sonata + 91%
Honda Accord Crosstour + 66%
Kia Sorento + 47%
Hyundai Tucson + 42%
Audi A3 TDI + 38%
Acura ZDX + 27%
Dodge Charger + 16%
In addition, a kbb.com homepage quick poll asked car shoppers to vote for their favorite Super Bowl car ad, and consumers chose the Dodge Charger “Man’s Last Stand” spot as their favorite at 24 percent, closely followed by the Audi A3 TDI “Green Police” ad at 21 percent. Rounding out the top five choices were the Hyundai “10 Years/Favre” ad at 17 percent, the Volkswagen “Punch Dub” spot at 16 percent and the Kia Sorento “Joyride” ad at 10 percent.
“The latest kbb.com traffic data shows that big-budget ad buys really can pay off when you have engaging product and a creative, eye-catching spot to capture football fans’ attention during the big game,” said James Bell, executive market analyst for Kelley Blue Book’s kbb.com. “The Saints may have taken home the Vince Lombardi trophy, but Hyundai captured the big win this year in terms of new-car interest increasing from their ads. It’s impressive when a car commercial can compel someone to take their eyes away from the big game to research a new-car online, and we know informed car shoppers come to Kelley Blue Book’s kbb.com to get the most timely and trustworthy vehicle values and information.”
For the purposes of this data, traffic increase is defined as the percent change when comparing Sunday, February 7, 2010 (Super Bowl XLIV Sunday) with the previous Sunday, January 31, 2010. The quick poll asking car shoppers to vote for their favorite Super Bowl car ad was featured on the homepage of Kelley Blue Book’s kbb.com from February 7-9, 2010, and had 201 respondents.
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KBB.COM STUDY: TOYOTA BRAND CONSIDERATION, VEHICLE INTEREST
DRAMATICALLY DROPS FOLLOWING RECALL
Car Shoppers Defect from Toyota Immediately Following Recall, Yet Seem Confident Toyota will Eventually Rebound
IRVINE, Calif., February 3, 2010 – According to the latest Kelley Blue Book www.kbb.com Market Intelligence data, Toyota consideration and interest has dramatically dropped since the company recently announced its massive recall.
More than 20 percent of those who said they were considering a Toyota prior to the recall now say they no longer are considering the brand for their next vehicle purchase. In addition, Toyota’s overall brand consideration dropped to third-place and now trails its domestic rivals, first-place Ford and second-place Chevrolet.
When comparing Toyota consideration in Kelley Blue Book Market Intelligence’s Brand Watch survey from the days prior to the recall to the days following the recall announcement, consideration dropped nearly half, from 29 percent to just 18 percent. In addition, the Brand Watch data showed a drop in Toyota’s perceived safety rating from 8.4 to 7.6.
Site traffic from Kelley Blue Book’s kbb.com also detailed in the company’s Market Watch report shows a steep drop in Toyota interest, as the majority of the company’s vehicles involved in the recall saw a nearly 30 percent drop in page views when comparing the week before the recall announcement to the week after. Even Toyota models not specifically involved in the recall saw a decline in page views, demonstrating the negative impact the recall is having on current interest in all Toyota vehicles, not just the models named in the recall.
However, car shoppers seem confident that Toyota will eventually rebound from this recall crisis. More than 30 percent of those surveyed said that Toyota is currently experiencing a challenge, but will offer better products in the future. In addition, 28 percent said that Toyota has had fewer recalls than other manufacturers, and [the current recall] does not change the fact that they produce great products.
“The attitudes and behaviors gleaned from the latest Kelley Blue Book Market Intelligence data show that, in the short-term, the impact of this recall nightmare on Toyota could be substantial on future sales as well as intangible factors such as market perception,” said James Bell, executive market analyst for Kelley Blue Book’s kbb.com. “While it may take some time for Toyota to regain consumers’ trust and confidence in their products, the company should feel somewhat relieved that the car-shopping public does not appear to believe the effects of this crisis will be permanent. In the interim, however, these unfortunate times for Toyota present a golden conquesting opportunity for competitors, some of which already are capturing new car shopper consideration.”
This Kelley Blue Book Market Intelligence study was fielded to more than 400 in-market car shoppers on Kelley Blue Book’s kbb.com from January 29 – February 1, 2010. Brand Watch data cited compared Toyota brand consideration from January 21-26, 2010 to January 27-31, 2010. Market Watch data cited compared Toyota model page views on kbb.com from the week of January 18, 2010 to the week of January 25, 2010
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CDMDATA, DEALERTRACK INTEGRATE PRODUCTS; PROVIDE DEALERS ENHANCED INVENTORY MANAGEMENT SOLUTIONS
New Tools Drive Efficiencies, Quicken Inventory Turnover to Increase Profitability
Irvine, Calif. and Lake Success, NY, February 8, 2010 – CDMdata, Inc., a Kelley Blue Book company, and DealerTrack, Inc., a subsidiary of DealerTrack Holdings, Inc. (Nasdaq:TRAK), a leading provider of on-demand software and data solutions for the U.S. automotive retail industry, today announce the completion of a series of product integrations between the two industry leaders.
Through the new product integration deal, DealerTrack is now offering an integrated version of CDMdata’s AutoOffice Internet marketing solution directly to DealerTrack AAX customers. AutoOffice, a Web-based inventory management solution, is designed as a one-stop-shop for pricing, managing, marketing and selling inventory online. The combined tool simplifies the collection of vehicle information, detailed seller’s notes and photos, and distribution of the listings to online advertising Web sites. Through this new integration, dealers can price and market inventory, monitor sales and access appraising detail all from one tool, eliminating multiple points of data entry, increasing accuracy and marketing the car online days earlier.
“CDMdata and DealerTrack have joined forces to provide dealers with the ability to more profitably manage the vehicle lifecycle from trade-in appraisal, pricing, and marketing all the way to making the sale,” said Mike Romano, chief operating officer for CDMdata, Inc. and senior vice president of dealer strategy for Kelley Blue Book. “The combined strengths of the two organizations and their products give dealers the upper hand in their marketing efforts against the competition.”
With this combined product suite, dealers control asset management, pricing analytics, valuation and inventory marketing. Ultimately, the use of this offering could decrease time to market and eliminate transposition errors, allowing dealers to focus on other aspects of the business.
“The rules of online vehicle marketing are evolving, and as a result, the technology dealerships use must change to keep pace,” said Raj Sundaram, senior vice president, solution and services group at DealerTrack. “Having the best and most comprehensive tools to support online marketing efforts will lead to better business decisions and improved profitability.”
For more information about Kelley Blue Book and CDMdata dealer products, services and solutions, please visit www.800bluebook.com. For more information about DealerTrack AAX and other solutions, please visit www.dealertrack.com/inventory.
About CDM Dealer Services and CDMdata, Inc. (www.cdmdata.com)
CDMdata, Inc. provides unparalleled technology and industry-leading service to the automotive industry. CDMdata, Inc. solutions increase client revenues by increasing productivity and data accuracy. CDM provides proprietary hardware and software solutions that streamline inspection, valuation, distribution, marketing and Internet sales processes. CDM’s flagship product is the DigitalLot Solution, which provides automotive dealers with the hardware and software they need to manage the collection and distribution of automotive information over the Internet. CDMdata, Inc. is a Kelley Blue Book company. CDM Dealer Services is a wholly-owned subsidiary of CDMdata, Inc.
About Kelley Blue Book (www.kbb.com)
Since 1926, Kelley Blue Book, The Trusted Resource®, has provided vehicle buyers and sellers with the new and used vehicle information they need to accomplish their goals with confidence. The company's top-rated Web site, www.kbb.com, provides the most up-to-date pricing and values, including the New Car Blue Book® Value, which reveals what people actually are paying for new cars. The company also reports vehicle pricing and values via products and services, including software products and the famous Blue Book® Official Guide. According to the C.A. Walker Research Solutions, Inc. - 2009 Spring Automotive Web Site Usefulness Study, kbb.com is the most useful automotive information Web site among new and used vehicle shoppers, and half of online vehicle shoppers visit kbb.com. Kelley Blue Book's kbb.com also is a W3 Gold Award winner, sanctioned by the International Academy of Visual Arts. Kbb.com is a leading provider of new car prices, used car Blue Book Values, car reviews, new cars for sale, used cars for sale, and car dealer locations.
About DealerTrack (www.dealertrack.com)
DealerTrack’s intuitive and high-value software solutions enhance efficiency and profitability for all major segments of the automotive retail industry, including dealers, lenders, OEMs, agents and aftermarket providers. Our solution set for dealers is the industry’s most comprehensive. DealerTrack operates the industry’s largest online credit application network, connecting more than 17,000 dealers with over 800 financing sources. Our Dealer Management System (DMS) provides dealers with easy-to-use tools with real-time data access that will streamline any automotive business. With DealerTrack AAX, dealers get better data along with the tools to make smarter, more profitable inventory decisions. Our Sales and F&I solution enables dealers to streamline the entire sales process, quickly structuring all types of deals from a single integrated platform. DealerTrack’s Compliance solution helps dealers meet legal and regulatory requirements and protect their hard-earned assets. DealerTrack’s family of companies also includes data and consulting services providers, ALG (Automotive Lease Guide) and Chrome Systems.
Safe Harbor for Forward-Looking and Cautionary Statements
Statements in this press release regarding the benefits of DealerTrack’s inventory solutions and the integration of Kelley Blue Book’s data and tools and all other statements in this release other than the recitation of historical facts are forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995). These statements involve a number of risks, uncertainties and other factors that could cause actual results, performance or achievements of DealerTrack to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements.
Factors that might cause such a difference include the adoption by dealers of DealerTrack’s inventory solutions, the performance by DealerTrack’s third party partners, and other risks listed in our reports filed with the Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K for the year ended December 31, 2008. These filings can be found on DealerTrack's website at www.dealertrack.com and the SEC's website at www.sec.gov. Forward-looking statements included herein speak only as of the date hereof and DealerTrack disclaims any obligation to revise or update such statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events or circumstances.
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KELLEY BLUE BOOK PUBLIC RELATIONS CONTACTS:
Robyn Eckard
Director of Public Relations
949-268-3049
Joanna (McNally) Pinkham
Senior Public Relations Manager
949-268-3079
Brenna Robinson
Public Relations Manager
949-267-4781
Rebekah King
Consumer Communications Manager
949-267-4982
About Kelley Blue Book (www.kbb.com)
Since 1926, Kelley Blue Book, The Trusted Resource®, has provided vehicle buyers and sellers with the new and used vehicle information they need to accomplish their goals with confidence. The company's top-rated Web site, www.kbb.com, provides the most up-to-date pricing and values, including the New Car Blue Book® Value, which reveals what people actually are paying for new cars. The company also reports vehicle pricing and values via products and services, including software products and the famous Blue Book® Official Guide. According to the C.A. Walker Research Solutions, Inc. - 2009 Spring Automotive Web Site Usefulness Study, kbb.com is the most useful automotive information Web site among new and used vehicle shoppers, and half of online vehicle shoppers visit kbb.com. Kelley Blue Book's kbb.com also is a W3 Gold Award winner, sanctioned by the International Academy of Visual Arts. Kbb.com is a leading provider of new car prices, used car Blue Book Values, car reviews, new cars for sale, used cars for sale, and car dealer locations.
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