Report analyzes over 5 million reviews to underscore the importance of listening to customer feedback in a supply constrained industry; highlights the service lane as a major opportunity for improving CX
SAN RAMON, Calif., Sept. 20, 2022 /PRNewswire/ — Reputation, the global leader in reputation experience management, today unveiled findings from its annual automotive industry report, which looks at key industry trends from the past year and ranks the top auto brands and dealer groups. This comes after a year of a variety of macro issues impacting the industry, including inventory challenges due to the global supply chain and rising costs of both new and used vehicles due to inflation.
Analyzing 5 million customer reviews, as well as surveying buyers about how they shop for cars and service their vehicles, Reputation found that:
- Dealerships are winning on the sales floor, with our consumer survey showing that 50% of respondents found the professionalism of the staff to be an important factor when selecting a dealership.
- However, dealers need to focus more on their service departments – 47% of people are motivated to write a review based on their experience with the service department, and as the Service and Parts departments account for about half a dealership’s profitability, it’s a critical part to get right.
- Learning from sentiment is important in improving a dealership’s reputation – Reputation’s own research shows that dealers with stronger reputations increase sales up to 10%.
- A stronger Reputation Scores strengthens a dealership’s presence online, and a strong Reputation score directly correlates to a higher conversion rate and a higher volume of actions on a dealer’s Google Business Profile.
- 80% of consumers say they have delayed a purchase due to inventory shortages.
- 85% of consumers say reviews are important.
- 65% say a dealership needs to have at least a four-star rating to consider purchasing from them.
- Reviews are the most important factor in choosing a dealership, behind price and inventory.
- 70% of consumers said they’d be willing to travel 20 miles to a top-rated dealership.
“We’re thrilled to be the number one-ranked dealer group for Reputation Score. This is a testament to the great work of our 22,000 Associates coast-to-coast. Reputation score has been a critical benchmark in helping us understand the importance of our online review presence, customer feedback, and satisfaction at AutoNation,” said Marc Cannon, Executive Vice President, and Chief Customer Experience Officer at AutoNation. “We take tremendous pride in how our dedicated Associates serve our Customers and represent our company values daily. As we respond to shifting Customer needs, we continue to utilize our Reputation Score to measure how our teams contribute to the overall Customer experience.”
“The automotive industry continues to navigate significant change, from inventory challenges and price increases to electric vehicles changing the way manufacturers and dealerships navigate the sales and service process,” said Joe Fuca, CEO of Reputation, “In an ever-evolving environment, each part of the business must rely upon customer feedback to continue to grow their businesses and evoke customer loyalty. It’s more important than ever for dealers to act on the feedback received; reaching out to customers in an effort to close the loop and ultimately reimagine the experience altogether. Our dealer and brand rankings this year highlight the critical role the Reputation Score plays in the automotive industry, with many of our customers ranking in top spots.”
Additionally, Reputation outlines five key trends shaping the automotive industry:
- Electric vehicles creating tension between OEMs and dealerships
- The service lane is ripe with opportunities to improve customer experience
- Subscription add-ons create a customer experience problem
- Continued price increases and supply chain challenges
- Customer feedback directly shaping the future of the industry
“Subaru is thankful for our many customers that are loyal to our brand, and we believe their loyalty is in large part to the exceptional customer experience our retailers provide,” said Laura Matey, Director, Retail Operations Training, Subaru of America, Inc. “We look forward to continuing our excellent relationships with our customers and delivering on our commitment to be More Than a Car Company®.”
“It’s an incredible honor to be recognized as the top-rated public or private dealership group for online reputation a fourth-consecutive year. We are also proud of every Hendrick Automotive Group dealership who earned a place in the top 150. Our teammates do an amazing job of providing world-class service, which compels our customers to tell others about their positive experiences with our company. A heartfelt thank you to our teammates for this fantastic achievement.
“Mitsubishi Motors is in the midst of a brand-wide moment, proven by exciting new vehicles, welcoming and updated dealerships, and an absolute commitment to customer satisfaction. To see that work validated in the 2022 Reputation Auto report rankings is exciting, to say the least, and is proof of the value of this hard work. I am proud of the efforts from everyone in the MMNA family who had a hand in achieving this ranking; our ongoing partnership with Reputation has given us the tools to place Mitsubishi Motors at the forefront of the industry,” said Mark Chaffin, President and CEO, Mitsubishi Motors North America, Inc.
US Automotive Rankings:
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Top 5 Auto Brands – Non Luxury |
Top 5 Auto Brands – Luxury |
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Top 5 Dealer Groups – Private |
Top 5 Dealer Groups – Public |
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Top 25 US Dealers |
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Canada Automotive Rankings:
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Top 5 Auto Brands |
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The 2022 Automotive Reputation Report is now available. For more information on Reputation Score and the Reputation RXM platform, please visit our site at www.reputation.com.
About Reputation
Reputation is the only platform that manages consumer feedback from acquisition to loyalty. Functioning as a business’ eyes and ears in the spaces where customers talk, post, review, and recommend, Reputation analyzes vast amounts of public and private feedback data to uncover predictive insights for companies to act on and improve the customer experience. Backed by Marlin Equity Partners, Bessemer Ventures, and Kleiner Perkins, Reputation turns consumer feedback into fuel to grow businesses around the world. Visit reputation.com to learn more.
SOURCE Reputation
