Tag Archive | "KBB"

KBB Announces 2017 Best Buy Awards

IRVINE, Calif. — Kelley Blue Book today announced the winners of its 2017 Kelley Blue Book Best Buy Awards. The 2017 Honda Civic was named the Overall Best Buy of 2017, however, 11 other vehicles also took top honors for their respective categories.

“Kelley Blue Book editors went to the unprecedented choice of honoring the Honda Civic as the Overall Best Buy for the second year in a row because of the Civic’s unsurpassed all-around value,” said Jack R. Nerad, executive editorial director and executive market analyst for KBB.com. “It turns in very high marks in objective measures like resale value and cost to own, yet it also is a supremely satisfying car to drive and live with every day.”

Overall, the Honda brand took home four awards, with its new Civic also winning in the small car category. The Honda Accord and Pilot also won in the mid-size car and mid-size SUV/crossover categories, respectively.

The Chevrolet brand received the second-most Best Buy awards, with its Impala winning in the full-size car category and the automaker’s Tahoe winning in the full-size SUV/crossover category.

The 2017 Audi A4 was named the Best Buy in the luxury car segment, while the 2017 Porsche 718 Boxster took top honors in the sports/performance car segment. The best electric/hybrid was the 2017 Toyota Prius Prime.

In the small SUV/ crossover category, the 2017 Kia Sportage emerged as KBB’s Best Buy. In the luxury SUV/ crossover category, the 2017 Mercedes-Benz GLC was honored with the top award. And for the third year in a row, Ford’s F-150 received KBB’s Best Buy award.

Lastly, the 2017 Chrysler Pacifica received the best buy award for the minivan category.

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KBB Predicts Record Sales in April

IRVINE, Calif. — Kelley Blue Book said this week it expects new-vehicle sales to grow by 4% compared to the same-year period in 2015. The expected growth should deliver record new-vehicle sales of 1.51 million and a SAAR of 17.5 million.

Retail sales, the firm said, are expected to account for 80.3% of volume this month, down from 80.9% in April 2015.

“Following a disappointing March, we expect sales to get back on track in April with the SAAR in the mid-17 million range,” said Tim Fleming, analyst for Kelley Blue Book.  “Increased fleet sales and rising incentive spending among automakers remain the factors to watch, but retail demand appears to be holding steady, signaling the industry’s strong run isn’t over quite yet.”

Compact SUVs/crossovers, mid-size cars, full-size trucks and mid-size SUVs / crossovers should also realize volume growth this month, according to KBB. Compact cars, however, are expected to be lone segment to show a decrease in volume compared to the same time last year.

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KBB Releases List of Best Family Cars of 2016

IRVINE, Calif. — Kelley Blue Book released its list of the 16 Best Family Cars of 2016. The list contains three minivans, six sedans, three two-row crossover/ SUVs and four three-row SUVs.

“For two weeks’ time we drove, lived with, folded down seats of, paired phones to and installed baby seats in each and every one of the contenders,” said Jack R. Nerad, executive editorial director and executive market analyst of Kelley Blue Book’s KBB.com. “ … This wasn’t just a cursory exercise, but instead it drew heavily upon our family-car experiences, needs and wants.”

The cars listed on KBB’s 16 Best Family Cars include:

  • Sedan: Honda Civic, Honda Accord, Kia Optima, Chevrolet Malibu, Chevrolet Impala and Hyundai Sonata
  • Two-Row Crossover: Honda HR-V, Honda CR-V and Subaru Outback.
  • Minivans: Kia Sedona, Honda Odyssey and Toyota Sienna.
  • Three-Row Crossover / SUV: Nissan Pathfinder, Toyota Highlander, Honda Pilot and Chevrolet Tahoe.
  • Runners-up were the Ford F-150, Ford Explorer, Hyundai Tucson, Kia Soul, Ram 1500, Subaru Crosstrek, Toyota Avalon and Toyota Camry.

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Women Less Confident in Car-Buying Process, KBB Reports

IRVINE, Calif. — When it comes to car shopping, women are driven by features and engage in extensive research to find the best fit. Me, however, are revved about a particular car brand, concluded a new study issued this week by Kelley Blue Book.

One-in-five men know the exact vehicle they want, while women are twice as likely to be undecided about what vehicle they desire, the study revealed. Additionally, 58% of men are confident in the car-buying arena, versus 38% of women. As a result, women take longer to make a purchase (a median of 75 days, compared with 63 days for men), because they are spending more time than men research in order to build confidence and knowledge.

“It’s striking that while there exist many similarities between how men and women shop for vehicles, there also are some very marked differences,” said Hwei-Lin Oetken, vice president of market intelligence for Kelley Blue Book. “What we can glean from this research is that we need to continue our focus on providing the proper tools and content to help shoppers narrow down choices, therefore bringing balance and filling gender gaps in the car shopping experience.”

The study also found that while men are more likely to view their cars as tied to their image and accomplishments, women are more likely to seek out transportation that gets them from point A to point B. Additionally, women value practical, fundamental benefits — things like durability and reliability, safety and affordability. Men, however, are more drawn to interior layout, exterior styling, technology and ruggedness.

Additionally, men tend to be more image conscious and want trucks, coupes and luxury sedans, while women tend to be more utility-minded and prefer non-luxury SUVs and sedans. Men want domestic trucks and European luxury brands because of the image they portray; women prefer non-luxury Asian brands, which they view to be more practical.

The study also determined that for men, a successful transaction depends on whether they get the best deal, while women define a successful transaction as getting the exact vehicle they want.

Results were based on Kelley Blue Book Market Intelligence’s analysis of data from KBB.com traffic and survey data from BrandWatch, Combined User Profile, Recall Awareness, and Price Quote Follow-Up studies. The total sample size from all sources was approximately 40,000 U.S. adults.

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KBB: Car Shoppers Confident in ‘New’ GM

IRVINE, Calif. — Fifty percent of new-car shoppers think GM is a different company today compared to five years ago, while only 24% of new-car shoppers believe the ‘old’ GM still exists, reports Kelley Blue Book.

“Despite challenges with the recall announcements, General Motors CEO Mary Barra has successfully positioned the brand in a positive light, as evidenced by Kelley Blue Book’s survey results showing half of new-car shoppers think GM has changed in recent years,” said Tony Lim, director of research for Kelley Blue Book’s KBB.com. “By reinforcing the message of the ‘new’ GM and distancing itself from the ‘old,’ Barra can continue to effectively distinguish the company from its past.”

The survey data also revealed more than a quarter of new-car shoppers think GM is being proactive and transparent regarding the recalls.

“GM initiated the ignition switch recall versus having it ordered by the government, and the company’s proactive stance taken in the areas of vehicle safety oversight and victim compensation has enhanced the automaker’s image despite the high number of recalled models,” said Karl Brauer, senior analyst for Kelley Blue Book’s KBB.com. “GM is suggesting to consumers it is more transparent about quality and the safety of its owners.”

However, U.S. car buyers continue to question GM’s product quality, as the survey indicates mixed feelings regarding the manufacturer’s ability to make more reliable vehicles today than it did five years ago. Only 39% of surveyed new-car shoppers think that GM’s current products are more reliable when compared to five years ago.

“High-profile recalls will put pressure on views of quality and reliability for any brand, and while many consumers think GM is a different company today, inevitably perceptions of product unreliability still exist,” said Lim. “GM can overcome these challenges and change perceptions by focusing efforts on new-vehicle launches and commitment to innovative in-vehicle technology.”

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Kelley Blue Book Launches Enhanced New-Car Shopping Experience

Irvine, Calif. – Kelley Blue Book launched its new car pricing tool, the Kelley Blue Book Price Advisor. It features a new range-based pricing layout and highlights differentiating aspects of local dealerships, including consumer ratings and reviews, new-car specials and inventory.

“Today the car shopping experience begins online for most consumers, with more than 50 percent of all online car buyers visiting KBB.com during their shopping process. This means Kelley Blue Book plays a critical role in helping consumers become more assured they are making the right decisions during the vehicle shopping process,” said Jared Rowe, president, Kelley Blue Book. “In an effort to provide consumers with all of the information they need to make a confident buying decision, KBB.com has enhanced the consumer’s ability to discover what represents a fair price in his or her area. Ultimately, this will create a more transparent and confident car-shopping experience.”

The Price Advisor tool displays three different pricing zones for a specific make, model and trim combinations: white, green and red. The green zone is the KBB.com New Car Fair Market Range, which reflects current market conditions for a selected vehicle with the buyer’s chosen options in his or her area. The Fair Market Range is derived from a mathematical model that leverages Kelley Blue Book’s 87-year history of pricing vehicles. KBB.com’s Fair Market Range is updated weekly and aggregates new-car transaction data within the user’s zip code, and adjusts for local market conditions and seasonal trends. The white zone represents pricing that falls below the Fair Market Range, typically under special circumstances, such as a retiring model year or an unusually competitive market. The red zone falls above the Fair Market Range, and also is considered a special circumstance, where there could be exceptionally low supply with high demand.

In addition to receiving a New Car Fair Market Range, consumers can explore local dealerships’ inventory. Shoppers benefit from an improved understanding of local dealership services and amenities, new car specials, dealership social media feeds and dealer ratings and reviews. The experience also specifies proximity to the dealership based on zip code.

“Developed specifically for the needs of the new-car shopper, KBB.com’s Price Advisor puts a spotlight on transparency starting with pricing, and moves across all aspects of the dealership,” said Scott Ehlers, vice president of product, Kelley Blue Book. “It allows the consumer to access key information from Kelley Blue Book’s trusted brand about a new car, including current pricing in the local marketplace, and now matches their search to relevant inventory for participating local franchise dealers.”

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