NADAguides Report: Consumer Interest Increasing Among European Brands
Euro brands are catching the attention of car shoppers in a big way, with the segment increasing its share of consumer interest by more than 9 percent.
COSTA MESA, Calif. — NADAguides latest Brand Share Report showed that European brands as a group experienced the largest share increase in consumer interest during the second quarter, jumping nine percent.
The vehicle research Website’s analysts attribute a portion of the gain to MINI and the launch of the Fiat 500. Data showed that interest in Fiat increased by more than 168 percent during reporting period, while MINI experienced an increase in consumer interest of more than 206 percent. Analysts attributed Mini’s pickup in interest to the launch of the Countryman model.
“The shift in interest for the European brands was not surprising to the analytical team. Compact, fuel-efficient and versatile vehicles are capturing more and more market interest as they address current in-market car shopper needs,” said Troy Snyder, NADAguides director of product development.
Ford, Chevrolet and Toyota maintained their positions as the top three most researched brands on NADAguides.com. Nissan landed in fourth while Honda sat in the fifth spot. The Website also reported that Nissan share increased 93 percent, knocking Honda out of the fourth spot.
Interest in Ford fell 15.5 percent in overall consumer interest on a quarter-to-quarter basis, but the vehicle makers still managed to hold onto the No. 1 spot with 14.3 percent of interest on the Website. Chevrolet and Toyota stayed fairly consistent during the second quarter, with Chevrolet owning 11.8 percent of consumer interest (11.9 percent during Q1) and Toyota owning 9.6 percent (10.3 percent during Q1).
Domestics continue to lead in sales and in consumer interest on NADAguides, though interest for domestics actually decreased by 4.4 percent while sales increased 1.9 percent during the quarter. As a result, NADAguides analysts suggest it may be an indication that domestic brand sales may see a decrease in the near future.
Consumer interest in Japanese brands increased by 1.8 percent on the Website, while sales numbers for the brands dropped 3.5 percent. NADAguides analysts attribute some of this disparity to production disruption and vehicle shortages due to the March 11 Japanese earthquake and tsunami.
More Auto Finance
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 →
Trade-Ins in Negative Equity Reach New Heights
As such trade-ins rise in frequency, so do monthly loan payment amounts and interest rates, according to second-quarter data compiled by Edmunds.
Read More →
Auto Credit Plentiful
June numbers show lenders are readily granting access, including to risky borrowers, as consumers leverage themselves to take on high prices.
Read More →
Automotive Consumers Sink Further in Debt
Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
Read More →
Porsche Financial Services Shifts Structure
After 36 years with Porsche, the Financial Services Chief Financial Officer Konrad Riedl is retiring, and the department is realigning its management structure.
Read More →