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Buyers resent low inventories, prices over MSRP, study says

Vehicle inventory low, vehicle transaction prices high, customers fretting … welcome, J.D. Power, to the era of supply and demand. In a recently published survey from one of the auto industryÂ’s top analytical firms, findings show that customers' satisfaction with vehicle purchases in the United States this year has dipped for the first time in 10 years. The 2022 U.S. Sales Satisfaction Index (SSI) Study found that overall sales satisfaction has dropped to 786 (on a 1,000-point scale) from 789 in 2021. In that year, higher than expected trade-in values softened the effect of new vehicle price increases. But in 2022, on top of trade-in prices shrinking, many dealers elected to charge more than the ManufacturerÂ’s Suggested Retail Price, a factor that did not sit well with buyers. “When dealers charge more than MSRP, particularly with long-term loyal customers, they risk a potential long-term negative effect on customer advocacy and service business," said Chris Sutton, vice president of automotive retail at J.D. Power. Satisfaction among buyers who paid more than sticker price is 757, while satisfaction among those who paid the sticker price or less is 850, the Power report said. The lack of dealership inventory was also a customer irritant, J.D. Power found, a point that automakers and their dealers may want to consider. Many have maintained, or considered maintaining, a smaller inventory in the wake of the pandemic, keeping costs down and driving more customers toward factory orders. Regarding those consumers shopping for electric vehicles, the survey said that more than a third of them “failed to get instruction on EV charging before they left the dealership, which notably affects satisfaction.” Said Sutton, “Salespeople donÂ’t need to show gas-powered vehicle buyers how to fill their tank, but they do need to show EV buyers how to charge their vehicle.” There are positives to the Power conclusions, however, especially for Alfa Romeo dealers. The Italian brand ranked highest in customer satisfaction among premium brands with a score of 833, with Porsche a very close second (831) and Lexus (819) third. Alfa is on something of a roll these days, with its compact Tonale crossover due for release in the spring, and a new sports car in the works. Meanwhile, in PowerÂ’s “mainstream brand”” segment, Buick ranked first with a score of 825, followed by Dodge (816) and Subaru (804), all performing higher than the industry average.

Stellantis sees vehicle loan durations extended amid banking turmoil

Stellantis is seeing clients seeking longer-term financing and leasing deals for their vehicles as a consequence of higher global interest rates, the carmaker's head for the business said. Chief Affiliates Officer Philippe de Rovira said loans which normally had a three-year maturity were now increasingly moved to four years. "This allows customers to get a car for a monthly instalment that is similar to that they had before," he said. The world's third largest carmaker by sales on Tuesday announced it had completed a plan announced in late 2021 to reshuffle and simplify its leasing and financing operations in Europe. Under its terms, Stellantis created a 50-50 single long term multi-brand leasing company named Leasys with Credit Agricole Consumer Finance. It also set up local joint ventures in European countries for its new Stellantis Financial Services unit, formerly Banque PSA Finance, with BNP Paribas Personal Finance and Santander Consumer Finance. "These banks have always had better funding conditions than those we can have as an automaker," de Rovira said. Benefits of the plan included cutting the number of financing and leasing entities the group runs in each country and the number of IT systems it uses, with expected savings exceeding 30% in this particular area, he added. De Rovira said the group had a huge portfolio of orders it had not yet delivered due to supply chain shortages impacting production. "Demand is not our main issue. The issue is to deliver as fast as we can cars that are in our order portfolio, which is still at record levels," he said. The group aims to expand its corporate leased vehicle fleet to more than one million units in 2026 and to double net income from its so-called banking activities to 5.8 billion euros ($6.3 billion) by 2030. De Rovira said Stellantis was not seeing a downward trend in vehicle pricing. "Probably the significant price increases we have seen in 2021 and 2022 will not be repeated because the context is changing, but for the moment we don't see decreases, we see stabilisation". ($1 = 0.9188 euros) (Reporting by Giulio Piovaccari and Gilles Guillaume; Editing by Jan Harvey) Earnings/Financials Plants/Manufacturing Alfa Romeo Chrysler Dodge Jeep RAM

2020 Alfa Romeo Stelvio Review & Buying Guide | Small but significant changes

The 2020 Alfa Romeo Stelvio is a luxury SUV aimed at folks who want something different – not necessarily to be flashy, but just to stand out in a crowd of grey Audis and black BMWs. Besides its badge and decidedly un-German styling, the Stelvio drives like no other luxury SUV. It has quick steering with great feel and excellent road holding that provide the sort of involved driving experience you probably don't expect from a high-riding crossover – and that goes triple for the outrageous, 505-horsepower Quadrifoglio that is without question the most desirable and competitive Stelvio. However, to this point, choosing the Stelvio also meant putting up with some overtly cheap interior pieces, an arcane infotainment system, few accident avoidance technologies and a poor reliability reputation. As you'll read below, all but the reliability issue have been addressed for 2020 – and only time will tell if the reliability's been improved. These changes are welcome and make the Stelvio much easier to make a case for getting something different. What's new with Stelvio for 2020? The interior's cheap and wobbly switchgear, which so obviously stood out in the 2019 Stelvio, gets a welcome upgrade for 2020. The electronic shifter is a little more solid in action, it's now covered in stitched perforated leather and surrounded by a metallic housing festooned with a little Italian flag. The electronic parking brake has been relocated to the left of it. The center console has also been redesigned to accommodate a wireless charging pad. Knobs for the "dna" drive mode selector, volume/track and the infotainment control knob feel more solid, while the latter is ringed by a nice knurled metal finish. That knob, however, has become a redundant control interface as the 8.8-inch infotainment display is now touch-operated as well. It also has new graphics and a new interface with a configurable home screen. It's a definite improvement over what was there before. The Stelvio also gets more advanced accident avoidance tech, most of which are among the best-executed on the market. The base price has also gone down by about $1,000 for 2020 despite these upgrades. That's rare. What's the Stelvio's interior and in-car technology like? Despite its many worthwhile upgrades for 2020, the Stelvio's interior still doesn't possess the same luxurious look and feel you'll find in an Audi, BMW, Mercedes, Porsche or Volvo.