Domestics Regain Lost Brand Share in 3Q, NADAguides Reports
A report by NADAguides revealed that domestic brands experienced the only increase in consumer interest on NADAguides.com during the third quarter.
COSTA MESA, Calif. — A report by NADAguides revealed that domestic brands saw the only increase in consumer interest on NADAguides.com during the third quarter, with their share of overall consumer jumping by 10 percent, according to the Website’s third quarter Brand Share Report.
Topping the list of brands consumers are interested in was Chevrolet, which NADAguides analysts attribute to big consumer interest in the Cruze and Silverado, which has consistently remained near the top in terms of brand share and interest on NADAguides.com throughout the year.
During the second quarter, MINI and Fiat both experienced the largest growth in brand share, increasing by 206 and 168 percent, respectively. In the third quarter, Fiat continued its surge and saw the largest increase in overall brand share, increasing by more than 68 percent.
Consumer interest for MINI, however, fell dramatically by nearly 54 percent. As a result, European brands saw the biggest decrease in consumer interest on NADAguides.com during the third quarter, dropping by 14.9 percent as compared to 2Q 2011.
Chevrolet edged out Ford as the most researched brand on NADAguides, moving Ford into the second spot, while Toyota, Nissan and Honda maintained the third, fourth and fifth positions, respectively. Chevrolet owned 14.5 percent of overall consumer interest on NADAguides.com during the third quarter, Ford 13.3 percent, Toyota 9.9 percent, Nissan 6.29 percent and Honda 6.1 percent.
Interest for domestics increased by 10.2 percent while sales increased from 46.8 percent to 47.3 percent year-to-date, according to NADAguides. With the large jump in consumer brand interest during the quarter, it may be an indication that sales for domestics will continue in an upward trend for the remainder of the year.
“We continue to see the ‘Big Three’ putting out great vehicles that meet consumer demands at all price points and with many more options at high MPG ratings,” said Troy Snyder, director of product development, NADAguides. “Trends are expected to shift again as the year comes to a close and Japanese manufacturers are all nearly back to capacity production.”
More Auto Finance
Interest Rates Further Squeeze Auto Consumers
Last month’s hike and a potential second increase this month add to a growing list of inflation woes that could continue to dent overall car sales.
Read More →
Mind Your Process
Consistent steps taken in various aspects of the F&I office can make valuable differences over time, similar to an outline for a best-selling book.
Read More →
Top Five Credit Application Fraud Flags
Compliance audits regularly reveal bad habits that can lead to fraud charges and should have been stamped out decades ago.
Read More →
More Auto Loans for the Taking in August
Riskier categories were on the uptick for the month as lenders loosened access in several areas while balancing out the exposure in another, Cox Automotive reported.
Read More →
July Was Hot for Auto Borrowers
Credit proved readily available for many, but most loans left buyers in negative territory, Cox Automotive said.
Read More →
Dealer Lender Preferences Revealed
When lenders provide consistent, fast service, their overall satisfaction scores with dealers greatly improve, according to JD Power research.
Read More →
Auto Refi Savings Surge
Consumers with 84-month auto loan terms who refinanced saved the most on monthly payments, according to a new report by auto refinancing provider Caribou.
Read More →
Subaru Enters Lending Business
The automaker follows other brands in adding captive financing in the U.S., and says the move will strengthen its position here.
Read More →
Positive Equity Reaches Record High
Mainstream vehicle owners who bought a car seven years ago are likely to have positive equity when trading in for a new vehicle, according to second-quarter Edmunds data.
Read More →
Dealerships Are Paying the Price for Extended Car Loans
Growing negative-equity scenarios mean such lengthy terms should be addressed in a forward-looking way to make them work for the dealer and the consumer down the road.
Read More →