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Tundra's Time To Shine (2/7/13)

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  1. Brad Smith2:29
  2. vice president4:29, 5:16
  3. Automotive News1:13, 4:17, 4:30
  4. Tom Moore0:17
  5. GM0:19
  6. Chicago Auto Show0:40
  7. King of the Hill2:39
  8. Penske Automotive Group1:19
  9. Peter Brown4:28

Thu, 7 Feb 2013|

Toyota's redesigned pickup debuts in Chicago; dealer group eyes U.S. brands; refreshed vehicles a key to retaining owners


Automatically Generated Transcript (may not be 100% accurate)

Hundreds turned. Toyota takes the wraps off its updated full size pick up. -- stories that. Good to see you on this Thursday. I'm Tom Moore back. GM unveiled its next year and pick ups late last year. Ford revealed its outlets concept last month and the ram 15100. Has been racking up awards. Today the redesigned 2014. Toyota Tundra entered the race. The time drug unveiled this morning at the Chicago Auto Show. The mechanically it is very similar to the outgoing tundra all three engines are very overs. But it has undergone significant sheet metal and interior changes. Standard features include a back up camera LEV head lamps in the war. It goes on sale in September. For more auto show coverage -- auto Slash Chicago. But there's still opportunities in the US absolutely. That was Roger Penske responding to Automotive News editor in chief Keith Crain at our world congress last month. We've since -- Penske Automotive Group. Plans to acquire domestic franchises in US markets where it has dealerships so can leverage economies of scale. That's a change for the dealership group which is largely focused on acquiring volume foreign brands for more than a decade. Chairman Roger Penske saying quote we think there are some real opportunities. In all three domestics. Penske has up to 120. Million dollars to spend on future acquisitions. Penske -- number two on our list of the top 125. Dealership groups in the US. It is among the biggest issues facing automakers. How do you prevent your customer from jumping ship to another manufacturer. Research firm -- Expects more than 100 new vehicle launches in major repressions. This year alone. In as we recently learned. All of that -- candy. Can help our company's retention. Words -- is really a measure of how many owners are coming back to repurchase program they -- -- garage in the court in the poll loyalty boss Brad Smith. One manufacturer in particular is consistently retaining owners. Over -- buying cycles. Ford is is -- King of the Hill when it comes to loyalty for the last three or four years. A lot of the success of loyalty has been driven by the fact we've had today shorter product cadence we've been refreshing their vehicles are quicker. In the -- across their entire fleet of vehicles pulled says consumer loyalty tends to peak after three years of ownership. In decline starting in the fourth year. Smith's advice to conquests victims. Understand defection patterns where the owners going. Conserving the owners did understand those reasons were defections are they defecting because of the product offering because of the service experience. Because of the competitive incentive perhaps. -- loyalties scores are determined in part. For vehicle registration data from across the country. And in 2012 the firm calculated overall older brand loyalty at 48%. Up nearly a percentage point from a year earlier. Smith says the competitive market is leading more automakers to engage buyers than government manufacturers now art Harris invested in. Our customers -- answers. Hours strictly around the repurchased multiethnic. -- are they handling her existing owners went on the measuring four when those owners are likely to be in market for the next vehicle. And what's her like he reversed decisions really engage those owners differently. Smith however isn't satisfied with just analyzing the past. We're also started you forecast -- where we expect luxuries to be in the contributions. That those. -- transactions will get you marketshare so today it's an input into -- forecasting and demand way. -- handed out its annual loyalty awards at last month's Automotive News world congress. We leave you today with some personnel moves out of our house. After 28 years with Crain communications. Peter Brown vice president and publisher of Automotive News is retiring April 30. Peter who turns 65 and April. Joined Automotive News as editor in 1989. After serving four and a half years as the founding editor of our sister publication cranes Detroit business. Crain chairman Keith -- says quote Peter is a great newsman business leader and true friend. -- very familiar face Jason Stein will become our publisher in addition to remaining editor. The 41 year old has been serving as associate publisher and editor of Automotive News. Stein enjoin the publication as a reporter back in 2003. In finally -- vice president Casey -- has been named group publisher of the Automotive News group. Which includes Automotive News Automotive News Europe automobile Boca. And -- Thanks so much for watching everyone. We'll see if you.

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