TROY, Mich.--(BUSINESS WIRE)--Customer satisfaction with the vehicle purchase process continues to rise as new-vehicle inventory and pricing improve year over year, according to the J.D. Power 2024 U.S. Sales Satisfaction Index (SSI) Study, SM released today. This year, overall customer satisfaction with the vehicle purchase experience is 801 (on a 1,000-point scale), up from 793 a year ago. Even so, gains in other aspects of the purchase process such as personnel, paperwork and delivery are markedly smaller.
“In 2023, improvements in new-vehicle inventory and pricing moved customer satisfaction in an upward trajectory from the lows of 2022, and that’s apparent again this year,” said Stewart Stropp, vice president of automotive retail at J.D. Power. “It marks a return to form. As shoppers see a wider variety of vehicles to choose from, pricing becomes more competitive across the market. But this year’s study shows satisfaction with other parts of the sales experience has not improved nearly as much. Plenty of opportunity remains to optimize the path to purchase.”
Following are some key findings of the 2024 study:
- Percentage of buyers paying above MSRP declines considerably: With replenished inventory, buyers are rarely paying more than the suggested retail price for vehicles. Among mass market buyers, only 8% paid more than MSRP—an appreciable decrease from 15% a year ago. Among premium vehicle buyers, only 6% paid more than MSRP, down from 10% in 2023.
- Meeting key performance indicators (KPIs): While 57% of buyers say nine or 10 of the top 10 KPIs were met during their sales experience, 43% say eight or fewer were met, resulting in substantially different levels of satisfaction. When nine or 10 KPIs are met, Buyer Index satisfaction averages 917. When seven or eight KPIs are met, the average drops to 827—fully 90 points lower. Ensuring all KPIs are completed is key to optimal satisfaction. Top KPIs include sales consultants completely understanding customer needs; vehicle condition upon delivery; and personnel effectively using technology.
- BEV buyers still less satisfied than ICE buyers: While the gap between internal combustion engine vehicle (ICE) and battery electric vehicle (BEV) buyer satisfaction is getting smaller, BEV buyers are still notably less satisfied. Buyer Index satisfaction among mass market ICE vehicle buyers is 857 but drops to 822 among mass market BEV buyers—and a similar pattern exists among buyers of premium vehicles. Furthermore, both mass market and premium BEV buyers continue to be less satisfied with dealer staff knowledge and expertise. Tesla buyers, in particular, have markedly lower satisfaction with the effectiveness of the vehicle features explanation.
Study Rankings
Porsche ranks highest in sales satisfaction among premium brands for a second consecutive year, with a score of 851. Infiniti (840) ranks second and Jaguar (838) ranks third.
MINI ranks highest in sales satisfaction among mass market brands, with a score of 829. Buick (827) ranks second and Subaru (825) ranks third.
Segment Awards
The following are the highest-ranked brands in each segment:
Premium Car: Porsche (for a second consecutive year)
Premium SUV: Porsche (for a second consecutive year)
Mass Market Car: Nissan
Mass Market SUV/Minivan: Buick
Mass Market Truck: GMC (for a second consecutive year)
Now in its 39th year, the U.S. Sales Satisfaction Index (SSI) Study measures satisfaction with the sales experience among new-vehicle buyers and rejecters (those who shop a dealership and purchase elsewhere). Buyer satisfaction is based on six factors (in order of importance): delivery process; dealer personnel; working out the deal; paperwork completion; dealership facility; and dealership website. Rejecter satisfaction is based on five factors: salesperson; price; facility; variety of inventory; and negotiation.
The 2024 U.S. Sales Satisfaction Index (SSI) Study is based on responses from 34,596 buyers who purchased or leased their new vehicle from March through May 2024. The study is a comprehensive analysis of the new-vehicle purchase experience and measures customer satisfaction with the selling dealer (satisfaction among buyers). The study also measures satisfaction with brands and dealerships that were shopped but ultimately rejected in favor of the selling dealership (satisfaction among rejecters). The study was fielded from July through September 2024.
For more information about the U.S. Sales Satisfaction Index (SSI) Study, visit https://www.jdpower.com/business/automotive/us-sales-satisfaction-index-ssi-study.
See the online press release at http://www.jdpower.com/pr-id/2024145.
About J.D. Power
J.D. Power is a global leader in automotive data and analytics, and provides industry intelligence, consumer insights and advisory solutions to the automotive industry and selected non-automotive industries. J.D. Power leverages its extensive proprietary datasets and software capabilities combined with advanced analytics and artificial intelligence tools to help its clients optimize business performance.
J.D. Power was founded in 1968 and has offices in North America, Europe and Asia Pacific. To learn more about the company's business offerings, visit JDPower.com/business. The J.D. Power auto-shopping tool can be found at JDPower.com.
About J.D. Power and Advertising/Promotional Rules: http://www.jdpower.com/business/about-us/press-release-info
