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Tata Nano: U.S. bound (10/15/12)

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  1. jaguar1:08
  2. United States0:28
  3. Peter Brady1:31
  4. Toyota Lexus2:40
  5. GM3:37
  6. Automotive News0:34
  7. Japan earthquake2:20
  8. Tata Group0:32
  9. loyalty rate3:00

Mon, 15 Oct 2012|

Target for American version of world’s cheapest car is $10,000; Volvo to idle plant; Snyder: Honda, Toyota comeback obstacle

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Automatically Generated Transcript (may not be 100% accurate)

Welcome back -- Monday edition I first checked and Jennifer bond. Coming up what Torino and Honda are surrendering to finish 33. -- Snyder has that report after these headlines. Yeah. She. Does not content and now it's coming to the United States. So says her time Todd Todd chief of India's Tata Group. He tells Automotive News that a car touted as the world's cheapest. Is being re designed for I think you wax. And he says it will be far more sophisticated. Than the current model. It sold for about 2500 dollars went and made its debut in India three years ago. Target price for the US -- under 101000 dollars. And while rival is expected in three years. Contact says it's too early to talk about eight distribution channel. The company owns jaguar and Land Rover. -- cost the US cheap but those brands says there have been no discussions about selling the nano through his dealer network. Chrysler group is making its natural gas powered ram pick up available through retail buyers. At first that truck was only useful to -- But dealership network chief Peter Brady tells Bloomberg. That all of dealers were able to order the -- when he 500 heavy duty CNG pick up starting last month. Rights -- CEO Sergio -- unique has argued that natural gas engines. A more viable -- electric cars and plug in hybrid. And of -- low will stop production at its main plant in Sweden for a week later this month. The reason soft demand in -- To -- and Honda customers keep coming back. But our -- -- says once he isn't everything. Jennifer this year Toyota Motor sales and American Honda are doing a terrific job of winning back volume they lost last year. After the production was crippled by the Japan earthquake. They can -- -- extremely loyal customers for the comeback. But there's trouble on the horizon. They're old customers are very loyal but new customers. Harder to find. Let's look at some fascinating data on loyalty and conquest rates from Edmunds dot com for Toyota Lexus. And Honda Acura. And compare 2008. With the first nine months this year. Now for years Toyota and Honda led the pack on both loyalty. Defined as what existing customers buy next and conquest defined as what new customers had before. Third does loyalty rate hasn't budged both years 62%. Honda -- even improve four points since 2008. To 61%. But look at conquest rates for years ago 61%. Of Toyota's sales -- conquests now. 47%. Less than half. Same thing at Honda before 61% of customers came from outside now also 47%. So who are Toyota and Honda conquest and molest these days in a word. Detroit. Just four years ago Toyota got 40% of its customers from GM Ford or Chrysler. Now less than a quarter and -- Detroit conquest rate from 34%. Down to 22%. Bottom line Toyota and Honda customers are extremely loyal but it's harder for both automakers to win customers away from other brands. And bats a new limits on their long term growth potential. Jennifer. Thanks Jesse. Finally a first shift footnotes. If you can't find a better car I. Former Chrysler boss Lee Iacocca. Turns 88 today. That is -- show -- more back we'll have her afternoon update on odd -- now we'll see you Tuesday.

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