Latest Study Shows Acura Treats New Prospects The Best
Acura dealerships ranked
highest in the newly released 2007 Pied Piper Prospect Satisfaction
Index(SM) Auto Industry Study, an industry-first study that measures how
consumers are treated when shopping for a new car, SUV or truck. The
independent study evaluated and benchmarked shopping experiences at 1,592
dealerships nationwide, representing all major brands.
Following Acura were Land Rover, Saturn, Jaguar, Volkswagen, Nissan,
and nineteen other brands at or above the industry average. Twelve brands
finished below industry average.
Acura dealers were ranked consistently among the top brands for most of
the 50+ sales process aspects evaluated by the study, and ranked first for
giving prospects compelling reasons to buy from their specific dealership.
Other brands led the industry in different areas. For example, Land Rover
salespeople were most likely to provide a "walk-around" showcasing product
features and benefits, and were also most likely to offer a brochure.
Saturn salespeople were most likely to offer a test drive, and to provide
compelling reasons to buy now. Jaguar salespeople were most likely to
mention financing options. Lexus salespeople nearly always -- 98% of the
time -- asked for contact information. BMW salespeople were most likely to
appear responsible for setting the sales price themselves.
"Pied Piper PSI results show that it is possible for automobile
salespeople to effectively ask for the sale without seeming either
overbearing or ambivalent," said Fran O'Hagan, President of Pied Piper
Management Co., LLC. Long a subject of criticism, many auto manufacturers
and dealers have substantially improved the effectiveness of their sales
processes. For example, salespeople offered a test drive 89% of the time,
asked for contact information 83% of the time, asked for the sale 75% of
the time, and offered a brochure 66% of the time. Since the study figures
are averages across brands, opportunity abounds for performance improvement
at individual dealerships. One area of opportunity is the fact that
salespeople provided compelling reasons to buy from their specific
dealership only 51% of the time.
Pied Piper PSI studies have been conducted in other industries too.
Harley-Davidson was ranked first in the 2007 Pied Piper PSI(SM) Motorcycle
Industry Study, and Monaco was ranked first in the 2007 Pied Piper PSI(SM)
RV Industry Study (Class A). A comparison of dealership performance across
auto, motorcycle and RV industries shows substantial differences. For
example, auto salespeople are most likely to ask for the sale, set up a
future appointment or ask for contact information. Motorcycle salespeople
are most likely to conduct "walk-around" showcasing product features,
involve prospects with visual aids, and appear primarily responsible for
setting the price. RV salespeople are most likely to determine a prospect's
price range, to give compelling reasons to buy from their specific
dealership, and to discuss product features unique from the competition.
"Most businesses carefully track sales and take care of existing
customers," O'Hagan said, "but 75% to 90% of motor-vehicle shoppers don't
buy the same day they visit a retail location, so maximizing prospect
satisfaction is an important key for turning those shoppers into tomorrow's
buyers."
The 2007 Pied Piper Prospect Satisfaction Index(SM) Auto Industry Study
was conducted between April 2007 and June 2007 using anonymous shopper
evaluations at 1,592 dealerships located throughout the U.S., representing
approximately one in fourteen of all U.S. light vehicle dealership
locations.
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