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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 promises to unveil two updated models at Pebble Beach

Lexus has announced it will stage the global debuts of two updated models at Pebble Beach later this week. But it isn't saying which models they will be. However we can take an educated guess or two. Two of the oldest nameplates in the Lexus lineup at present are its flagship models: namely, the LS sedan and the LX sport-ute. The original LS was first introduced back in 1989, with the current fourth-generation model rolled out in 2006. (That's the Pebble Beach edition of the 2009 LS 600h pictured above.) It's undergone incremental updates in the decade since, with the last one having arrived in 2012. With much newer examples of the Mercedes S-Class and BMW 7 Series having recently been launched, Toyota will likely want to keep its flagship sedan up to date and competitive with newer rivals. Meanwhile the LX first launched in 1995 as a rebadged and luxed-up version of the Toyota Land Cruiser. The current third-generation model arrived in 2007, and was updated in 2012 alongside the aforementioned LS sedan. Sales of the LX have been floundering, spurring Lexus to potentially launch an entirely different flagship crossover to take its place. But before that happens, it is expected to launch another facelift for the existing model. Photos of that updated version have already leaked out and begun circulating, so we wouldn't be surprised to see the new LX 570 debut in Monterey as well. Both are expected to adopt more aggressive styling in line with other, newer models in the lineup, along with the latest technologies Toyota has to offer. Whatever form they take, we won't have to wait long to find out what Lexus has in store for us. The unveiling of both its freshly updated new models is set to take place on Thursday, so watch this space. Related Video: MEDIA ADVISORY - LEXUS TO UNVEIL TWO UPDATED MODELS AT PEBBLE BEACH August 10, 2015 -- Lexus plans to stage the global premiere of two updated models in Pebble Beach during the days leading up to the 2015 Concours d' Elegance. The reveal will take place at 7 p.m. PDT, Thursday, Aug. 13, and all materials will be available on www.LexusNewsroom.com simultaneously.

Lexus gets new boss, and he's a designer

A reshuffle in the uppermost ranks of Lexus could see the Japanese luxury brand further energize its recent focus on design. Tokuo Fukuichi, Toyota's global design boss, is the new head of Lexus International.
Fukuichi will retain his role as the overall head of design for Toyota, Lexus and Scion, and will assume his new position at the head of Lexus and on its board on April 1 (no fooling). This is going to be an interesting move for fans of design to watch, as Fukuichi has repeatedly been mentioned as a designer that enjoys pushing the edge of the envelope and experimenting. He is, after all, the man responsible for designing the most awesomely odd minivan of the 1990s, the mid-engined, rear-drive Toyota Previa, and more recently, he signed off on the controversial Lexus LF-NX concept, which is said to presage a new production small crossover.
"Regarding changes in design, no one has 100 percent confidence," Fukuichi told Forbes back in January 2013. "No one can really say with pure certainty that, 'In two years, this will sell well.'" As Akio Toyoda continues to demand more assertive, edgier designs, it's that point of view that should make Fukuichi a valuable addition to Lexus, as it continues to challenge the competition from Germany.