J.D. Power's Troy Snyder Describes How New Website Helps Consumers Evaluate Vehicles While Helping Dealers Meet Auto Buyers' Rising Expectations
"This is a very different kind of car shopping website. The site is based entirely on consumer input from the trusted J.D. Power brand, offering clear and accurate explanations about how models differ within and across the different categories." -- Troy Snyder, J.D. Power
The new consumer-facing J.D. Power website (JDPower.com)
"This is a very different kind of car shopping website," explains Snyder. "The site is based entirely on consumer input from the trusted J.D. Power brand, offering clear and accurate explanations about how models differ within and across the different categories."
New market dynamics illustrate the value proposition behind J.D. Power's new website. In the first half of 2018, the average new-vehicle retail transaction price hit a record $32,221, surpassing the previous high of $31,397 set in the first half of 2017, according to the June 2018 J.D. Power - LMC Automotive Forecast.
However, while the auto industry continues to drive new quality and customer satisfaction benchmarks, consumers' expectations are rising as well. As a result, automakers and consumers need to know which metrics have the greatest impact on consumers' perceptions of vehicle quality – and identify the greatest opportunities for improvement.
"The heart and soul of J.D. Power is -- and always has been -- its ratings and reviews," Snyder says. "It's a confusing world out there. Even for automotive experts, it's hard to understand which models are new, how they are different and why they are special. This site dissects these differences and makes it very clear why a particular model is better than another one, and how it deserves to be ranked higher or lower...to help car buyers make their car shopping experience even easier."
The new J.D. Power website includes two new tools:
1.The company's 100-Point Score -- which identifies specific differences between models; and
2.The Red Blade Ratings, which dives deeper into the details that comprise the 100-Point rating scores.
"Our new 100-Point Scoring system gives consumers insight into which models ranks the best, and how they compare to other models," adds Snyder. "The Red Blade Ratings help the prospective buyer further understand how consumers have assessed 10-15 additional metrics -- like technology, safety and quality. In short, these two tools provide support to the full spectrum of car buyers -- from those looking for a quick score, to those who want to dive deeper."
The new website illustrates the digital transformation that is occurring within the automotive industry and the changes that need to take place as consumers make decisions.
To listen to the entire podcast interview with Troy Snyder, and learn more about the new J.D. Power website visit: