Detroit's year of bad news just got worse: the car industry isn't only losing sales from current buyers depressed by the economy -- it's losing the future. A new J.D. Power report says teens and twenty-somethings lack what was once thought to be the genetic desire to own a car. The study, which analyzed hundreds of thousands of conversations on blogs and social media sites like Facebook and Twitter, showed young people have a poor image of the auto industry. The bad economy and high gas prices could be to blame. But J.D. Power blames social media itself: "with the advent of social media and other forms of electronic communities, teens perceive less of a need to physically congregate, and less of a need for a mode of transportation.”
Tag: J.D. Power
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Buyers of new cars and trucks are much more conscious these days of the value and quality of the vehicles they buy, since their dollars are not going as far as they used to. Value and quality are driving brand loyalty as they never have, according to J.D. Power, whose latest Customer Retention study puts Mercedes-Benz on the top of the list when it comes to owners who stay with the brand.