Weaknesses in self-service communications channels overshadow pandemic-driven refunds. The auto insurance industry voluntarily returned more than $18 billion in auto insurance premiums to customers in 2020 to address the sharp decline in miles driven during the COVID-19 pandemic. Despite the magnitude of this historic relief effort, the J.D. Power 2021 U.S. Auto Insurance Study finds […]
April New-Vehicle Sales Projected to Break Record Despite Low Inventory
J.D. Power and LMC Automotive forecast over 20% increase in new light vehicle sales versus two years ago for the month. New-vehicle retail sales for April 2021 are expected to be the highest ever recorded for the month of April, according to a joint forecast from J.D. Power and LMC Automotive. Retail sales for new […]
February Auto Sales Projected to Exceed 2020 Levels on Selling-Day Basis
Retail sales strong in February despite adverse weather and lean inventory. New-vehicle retail sales for the month of February are expected to show growth from February 2020, according to a joint forecast from J.D. Power and LMC Automotive. Retail sales for new vehicles are projected to reach 975,600 units, a 3.3% increase compared with February […]
January Retail Auto Sales Projected Above Last Year
J.D. Power and LMC Automotive forecast strong start in auto sales. New-vehicle retail sales for the month of January are expected to show growth from January 2020, according to a joint forecast from J.D. Power and LMC Automotive. Retail sales for new vehicles are projected to reach 890,800 units, a 6.1% increase compared with January […]
Vehicle Retail Sales Projected to Decline in November
On a selling day-basis, sales are projected down less than one percent from last year, but more than 12% overall. Average retail sale price up over 8%. New-vehicle retail sales for the month of November are expected to decline marginally from November 2019, according to a joint forecast from J.D. Power and LMC Automotive. Retail […]
Retail Vehicle Sales Projected to Rise Above 2019 Levels for Second Consecutive Month
J.D. Power and LMC Automotive also project total new vehicle sales up on selling day adjusted basis. New-vehicle retail sales for the month of October are expected to be up from October 2019, according to a joint forecast from J.D. Power and LMC Automotive. Retail sales for new vehicles are projected to reach 1,187,800 units, […]
Auto Insurance Claims Satisfaction Climbs to Record High
J.D. Power says direct repair shops have higher customer satisfaction than industry as a whole. NJM Insurance Co. ranked highest overall in satisfaction. One silver lining to the COVID-19 pandemic: a 22% decline in frequency of auto insurance repairable claims has given insurers some breathing room to refine their customer experience and deliver higher touch […]
Auto Retail Sales Projected to Post First Gain Since February
Sales benefited by two additional selling days and Labor Day holiday in September. New-vehicle retail sales in September are expected to be up from a year ago, according to a joint forecast developed jointly by J.D. Power and LMC Automotive. Retail sales are projected to reach 1,157,800 units, a 3.4% increase compared with September 2019. […]
Inventory Constraints Impede August Vehicle Sales
J.D. Power and LMC Automotive project over 13% decrease in total vehicle sales, but average vehicle prices will reach an all-time high. New-vehicle retail sales in August are expected to be down from a year ago, according to a joint forecast developed jointly by J.D. Power and LMC Automotive. Retail sales are projected to reach […]
Auto Sales Projected to Continue to Recover in July
Both retail and total sales projected below 2019 levels but the decline is less than prior months that were impacted by pandemic closures. New-vehicle retail sales in July are expected to be down from a year ago, according to a joint forecast developed jointly by J.D. Power and LMC Automotive. Retail sales are projected to […]