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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.

Lexus teases 2022 LX 600 flagship SUV

Like so many things at the moment, the Lexus LX debut got pushed back, but it's nearly upon us. Toyota's luxury brand began the teaser campaign for the 2022 Lexus LX 600 today, in preparation for an online debut October 13 at 12:30 p.m. Eastern at the same time the vehicle is unveiled live in the United Arab Emirates and Saudi Arabia. We can glean a few things from the teaser, the first being the same Lexus design language we recently saw on the 2022 NX transferred to what will be the automaker's flagship SUV. That means an LED light bar connecting two hockey-stick taillamps above a spelled-out "LEXUS" instead of the Lexus logo. The chrome accents of the LX 570 are history, the rear license plate placed in an unadorned trapezoidal recess. The rear bumper is now nearly flush with the tailgate and loses its stanchions at the edges.    And then there's that LX 600 badge, officially signaling that numbers aren't about engine displacement. Depending on market, the LX is expected to get the twin-turbocharged 3.5-liter V6 that launched with the 300-Series Toyota Land Cruiser in June and puts out 409 horsepower and 479 pound-feet of torque in that model. Japanese outlet Creative Trend says this mill will eventually get hybrid assistance to create an LX 750h trim with 480 hp and 642 lb-ft. of total system output. The 3.3-liter diesel V6 with 305 hp and 516 lb-ft. could end up in places like Japan and Australia, and it's possible a base version with the naturally aspirated V6 finds its way to market.  Toyota said putting the new Land Cruiser on its TNGA-F platform saved about 440 pounds. We won't be surprised if the Lexus loses some weight as well, but we also expect a lot of new tech in the LX 600, and luxury is heavy. Features like the Multi-Terrain Select system and Multi-Terrain Monitor seem like shoo-ins, as does the 360-degree camera system. An option for fingerprint authentication to start the vehicle might bow as well. We'll know next week when the 2022 LX livestream kicks off. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Lexus might introduce an all-electric successor to the CT hatchback

Despite sales of the Lexus CT hybrid hatchback ending last year in the U.S., Lexus isn't planning to abandon the hatchback segment in favor of the new compact crossover, the UX. The CT remains on sale in some countries, and Lexus's European boss is adamant the brand has to keep offering hatchbacks. Talking to the British AutoExpress, Lexus's Pascal Ruch says the CT has an important purpose, which is introducing new customers to the Lexus brand. Ruch told AutoExpress that the CT has a high "conquest ratio" of 70-75 percent, and that a CT customer is different from the envisioned UX customer. "I believe that all the segments we are now in, it's important to stay there," added Ruch. AutoExpress says the CT could be replaced in 2020 with a model that would be offered both as a hybrid and as all-electric, built on Toyota's new TNGA global platform. The hybrid is likely to be the 177-horsepower 2.0-liter unit seen in the new European Auris, which corresponds to the new U.S. market Corolla Hatchback. The CT's successor could be sold as both a conventional hatchback and a more crossover-like version, much like the new Ford Focus and its Active trim level; Ruch says Lexus is thinking through a new approach for the CT. The CT was introduced way back in 2011, selling some 15,000-17,000 examples per year in the U.S. until its first really weak year, 2016, which saw less than 9,000 cars sold. The following year, which proved to be its last model year in the United States, sales dropped under 4,700. In Europe, it's different for Lexus: The brand overall sells only some 45,000 cars per year, and the CT's steady sales of more than 8,000 cars per year are quite important for it. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.