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Autoblog Minute: New car customer satisfaction down according to latest ACSI report

Customers have spoken and automobile satisfaction is down in 2015. Autoblog's Chris McGraw reports on this edition of Autoblog Minute. Show full video transcript text [00:00:00] Customers have spoken and automobile satisfaction is down in 2015. I'm Chris McGraw and this is your Autoblog Minute. The American Customer Satisfaction Index or ACSI released its updated numbers and according to the survey, new car buyer satisfaction is down for the third straight year. According to an ACSI press release, customer satisfaction with new automobiles has fallen 3.7 percent, to 79 on its 100-point scale. The ACSI report is based on over 4,100 customer surveys collected in the second quarter of 2015 Sitting at the top of the industry in customer satisfaction is Toyota's Lexus brand with a score of 84. Which was good enough to dethrone Mercedes-Benz, which fell 3% to a score of 83. Of the Big Three, Ford was the only domestic automaker to maintain overall customer satisfaction with its score of 81. General Motors slipped 3% to 79 and Fiat Chrysler had a 5% drop, registering a score of 75 out the possible 100. What's driving this trend of customer dissatisfaction? ASCI points to the rise in recalls and car prices. Where do you land on customer satisfaction spectrum? Sound off in the comments with your thoughts on the current state of car ownership and brand quality. For Autoblog, I'm Chris McGraw. Autoblog Minute is a short-form video news series reporting on all things automotive. Each segment offers a quick and clear picture of what's happening in the automotive industry from the perspective of Autoblog's expert editorial staff, auto executives, and industry professionals. Chrysler Fiat Ford GM Lexus Mercedes-Benz Car Buying Ownership Autoblog Minute Videos Original Video

Ford earnings take a dive on investment, slowing sales; workers get $6,900 in profit sharing

Ford Motor Company's pre-tax profits for 2014 took a beating, falling to $6.3 billion, a $2.3-billion drop from 2013, while overall revenues fell from $139.4 billion to $135.8 billion. Net income for 2014, meanwhile, plunged 56 percent, from $7.18 billion to $3.19 billion. Yeah, those aren't great numbers. While Ford's figures are largely down across the board, some of the weaker numbers aren't too difficult to explain away. The company launched 24 vehicles across the globe in 2014, including some of its biggest and most important volume models, like the 2015 F-150, as well as iconic offerings like the new Mustang. The result of this is both increased investment as well as a drop in total sales – US market numbers were down 164,000 units compared to 2013. Recall claims and high warranty costs also did a number on the Blue Oval. "2014 was a solid yet challenging year for Ford - with our investments and a record number of new products launched around the world positioning us for strong growth this year and beyond," Ford CEO Mark Fields said in a statement. Ford's 50,180 UAW workers in the United States will receive profit-sharing checks of $6,900. In some markets, Ford's fortunes were impacted by outside factors. Europe, for example, recorded more sales (up 70,000 units) and higher revenues (up $2.2 billion), but still reported a $443-million pre-tax loss. Blame was placed on the crumbling Russian economy, which has suffered from sanctions and slumping oil prices. Despite its troubles last year, the company still seems bullish on 2015. Ford's pre-tax outlook remains unchanged, as the company expects to make anywhere from $8.5 to $9.5 billion on the back of higher revenue from the company's automotive operations. We expect strong growth and improved financial performance in 2015 driven by our investments in new products and capacity," Ford CFO Bob Shanks said of the company's future.

Ford recalling 370,000 Crown Vic, Grand Marquis and Town Car models

The Detroit News is reporting that Ford will recall some 370,000 Crown Victoria (pictured), Mercury Grand Marquis and Lincoln Town Car vehicles from model years 2005 through 2011, for an issue regarding the lower intermediate steering shaft. 355,000 of the vehicles in question were sold in the US, with the other 15,000 sold in Canada.
The report indicates that corrosion of the lower intermediate steering shaft could cause a "loss of steering," presumably because of a partial or complete failure of the part. The report points out the dealers will inspect and replace the offending steering component for recalled cars, and may also secure a lower steering column bearing and replace the upper intermediate steering shaft as needed. The company is unaware of any reports of the faulty part causing any accidents or injuries.
Ford helpfully lists states in which corrosion is more likely to have taken place, mostly in the Snow Belt, as you might guess. Connecticut, Delaware, Illinois, Indiana, Iowa, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, Virginia, Wisconsin, West Virginia, and the District of Columbia are listed.