kbb.com: Large-Vehicle Consideration Rebounds for New Trucks, SUVs, Crossovers
Latest Market Intelligence Shows Significant Increased Interest in Domestic-Made Vehicles
IRVINE, Calif., Jan. 26 /PRNewswire/ -- According to the latest Kelley Blue Book www.kbb.com Market Intelligence Brand Watch study, large-vehicle consideration for new trucks, SUVs and CUVs is rebounding to pre-recession levels not seen since early 2007. In addition, new-car shoppers recently have shown increased interest in domestic automakers, especially Ford and Chevrolet.
According to the Q4 2009 Brand Watch Study, new-truck consideration has surpassed that of non-luxury sedan/coupe/hatchbacks for the first time since Q1 2007, and trucks were the most-considered new-vehicle segment in Q4 2009. Ford leads consideration for truck makes at 57 percent, far besting the second-place brand Chevrolet (at 48 percent) by nine points. GMC and Dodge round-out third and fourth place for new-truck brand consideration at 36 and 31 percent, respectively.
In addition, consideration for non-luxury SUV/CUVs were led by increased quarter-over-quarter interest in GMC and Chevrolet, gaining eight and six points respectively since Q3 2009. The quarter-over-quarter consideration increases for these two domestic brands likely are due to heavy promotion and interest in the GMC Acadia and Terrain, as well as their sister vehicles, the Chevrolet Traverse and Equinox.
In the luxury SUV/CUV segment, Cadillac surged ahead nine points in Q4 2009, tying with Lexus for the top spot at 37 percent consideration, likely due to heavy promotion and interest in Cadillac's all-new redesigned SRX.
Ford continues to make perception headway in all segments, as consideration for Ford was the highest of any brand regardless of segment for Q4 2009 at 28 percent, surpassing second-place Toyota at 25 percent and third-place Chevrolet at 24 percent.
"The latest Kelley Blue Book Market Intelligence findings show how fickle American car buyers can sometimes be with regard to gas prices and the size of vehicles in which they show interest," said James Bell, executive market analyst for Kelley Blue Book's kbb.com. "Now that gas prices have stabilized and there appears to be a light at the end of the tunnel in the recession, vehicle buyers are back to their old ways - wanting the most/biggest car for their money. Despite recent small-car introductions at auto shows and the changing landscape of line-ups due to impending CAFE regulations, U.S. automakers are still perceived as king in the large-vehicle segment in America."
The Q4 2009 Kelley Blue Book Market Intelligence Brand Watch Study was fielded to more than 3,000 in-market new-car shoppers on Kelley Blue Book's kbb.com from October 2 - December 28, 2009. Kelley Blue Book's Brand Watch is an ongoing study tracking and trending consumer perceptions, detailing strengths and weaknesses of makes within each segment. For Market Intelligence sales inquiries on any segment or brand, please contact Hwei-Lin Oetken, vice president of market intelligence services for Kelley Blue Book and kbb.com, at 949-267-4460 or email@example.com.
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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.
SOURCE: Kelley Blue Book
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