Ford, Hyundai Show Long-Term Improvement in Perceived Quality
SANTA BARBARA, Calif., May 31, 2012 /PRNewswire/ — Ford and Hyundai have had the highest level of improvement in perception of quality among all automakers during the last 5 years according to ALG, the industry benchmark for vehicle values. Since 2008, Ford’s perception of quality has improved nearly 37%, while Hyundai’s perception of quality has increased by 25% during that time period. The release of ALG’s 2012 Perceived Quality Study (PQS) shows Ford ranking fourth, with Hyundai above the mainstream average.
Honda ranks highest among mainstream brands with a perceived quality score of 81.3, followed closely by Toyota, whose perception of quality continues to recover from its drop in 2010. Toyota showed the largest year-over-year perception improvement of any brand. Honda and Toyota continue to be the perception of quality standard bearers among mainstream brands, with Subaru ranking third.
Among luxury brands, Lexus is highest ranked for the second consecutive year, with a perceived quality score of 85.4. Three European brands – Mercedes-Benz, BMW and Porsche round out the top four.
“Changing the perception of quality is a long-term proposition,” said Eric Lyman, ALG’s Vice President of Residual Value Solutions. “Consumers recognize the product improvements made by Ford and Hyundai. Honda and Toyota are still widely recognized as being the quality leaders, but as more consumers increasingly consider brands like Subaru, Ford and Hyundai, that perception gap erodes.”
Other brands showing significant year-over-year improvement include Fiat, Scion, Dodge and Kia.
“Kia and Dodge are great examples of perception improvement based on product and marketing,” said Lyman. “Both brands have launched exciting new product and impactful messaging. While they both face significant history to overcome, consumers are beginning to recognize their improvement.”
Now in its fifth year, ALG’s Perceived Quality Study is a semi-annual consumer survey measuring the perceived quality of automotive brands. PQS reports the opinions of more than 3,000 U.S. consumers in order to gauge perceptions of mainstream and luxury brands. PQS is one of the metrics ALG examines in calculating our industry benchmark residual values, helping companies and consumers understand the future value of their vehicles.
Based in Santa Barbara, California, ALG is the benchmark of vehicle value information to the automotive industry. ALG publishes the “Residual Value Guidebook” – the standard for residual value projections in North America, and has been forecasting automotive residual values for nearly 50 years in both the U.S. and Canadian markets. For more information, visit www.alg.com.
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