State Farm ranks highest among large insurers, The Hartford ranks highest among midsize insurers. According to the J.D. Power 2022 U.S. Insurance Shopping Study, auto insurance customer satisfaction with price has plummeted, driving a surge in new-policy shopping activity while also dragging on the purchase experience index. According to the report, auto insurers are caught […]
March Light Vehicles Sales Projected to Decline Over 25% from Last Year
New vehicle sales remain constrained by low inventory. New-vehicle retail sales for March 2022 are expected to decline when compared with March 2021, according to a joint forecast from J.D. Power and LMC Automotive. Retail sales of new vehicles this month are expected to reach 1,044,500 units, a 27.8% decrease compared with March 2021 when […]
New-Vehicle Retail Sales Projected Down 8.3% in January
Industry remains constrained by historic low inventory in wake of supply chain issues. New-vehicle retail sales for January 2022 are expected to decline when compared with January 2021, according to a joint forecast from J.D. Power and LMC Automotive. Retail sales of new vehicles this month are expected to reach 828,900 units, an 8.3% decrease […]
Research Says Digital Insurance Claims Management Languishes
J.D. Power finds sluggish digital innovation as home and auto insurance customers continue reliance on personal channels during claim interaction. Property and casualty (P&C) insurance claims were supposed to be the tip of the sword when it came to digital transformation, but the industry is lagging far behind financial services and utilities providers when it […]
New-Vehicle Sales Projected Lower on Continued Low Supply in November
J.D. Power and LMC Automotive project sales declines, but demand sustains record-high levels of prices and dealer profits. Used vehicle prices up. New-vehicle retail sales for November 2021 are expected to decline when compared with November 2020, according to a joint forecast from J.D. Power and LMC Automotive. Retail sales of new vehicles this month […]
J.D. Power Reports Auto Insurance Claim Satisfaction Rises
Increased vehicle complexity introduces new challenges as claims for vehicles with Advanced Driver-Assistance Systems (ADAS) are 13.5% higher on average. The nationwide surge in used vehicle prices has given an unexpected boost to auto insurance customers who experience a total loss—their vehicles might be worth more than they thought. This phenomenon of higher replacement values, […]
Inventory Constraints Projected to Continue Reducing New-Vehicle Sales in October
Prices and profits, however, increase to record highs. Truck and SUV market share projected over 80% even with higher gas prices. New-vehicle retail sales for the month of October 2021 are expected to decline when compared with October 2020 and October 2019, according to a joint forecast from J.D. Power and LMC Automotive. Retail sales […]
U.S. New Vehicles Sales Projected to Decline in August Due to Inventory Constraints
Light vehicle sales projected down substantially from both 2020 and 2019. New-vehicle retail sales for the month of August are expected to decline from August 2020 and decline from August 2019, according to a joint forecast from J.D. Power and LMC Automotive. Retail sales of new vehicles this month are expected to reach 987,100 units, […]
July New Vehicle Sales Projected Above Last Year
Inventory shortages likely to cause July sales pace to weaken. New-vehicle retail sales for the month of July are expected to grow from July 2020 but decline from July 2019, according to a joint forecast from J.D. Power and LMC Automotive. Retail sales of new vehicles this month are expected to reach 1,187,300 units, a […]
J.D. Power Reports Pandemic Lockdown Kept Vehicle Owners Locked in on Their Current Brand
Vehicle owners remain vastly loyal to their specific brands, in part due to the effects of pandemic lockdowns, according to the J.D. Power 2021 U.S. Automotive Brand Loyalty Study. With many vehicle shoppers hesitant to venture out to showrooms, they often relied on their relationship with their current dealer. “The time period for this study […]
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