High-tech electronic accessories, such as vehicle navigation systems and entertainment centers, are more important to frequent new vehicle buyers (those that purchase every year or every two to three years), according to a study released by Polk, the longest-standing curator of automobile records in the United States. As expected, the more often a consumer purchases a new vehicle, the more important the latest electronics are to them. "Consumers will find an increasing number of automotive communication devices available in the very near future, as the market for telematics reaches billions of dollars within the next four years," said Yolanda Reid, Polk loyalty research manager. "The automobile will soon be perceived as much more than a mode of transportation -- it will be a mobile communication and entertainment center as well. And the auto industry is doing its best to stay on the cutting edge of technology, with recent developments including voice-activated controls, on-line mapping systems and in-vehicle access to e-mail." According to the Polk study, consumers who purchase a new vehicle every one to three years are more likely to look for the latest electronic features in their new vehicles. And because these frequent buyers often purchase a newly introduced or re-designed vehicle, automakers and suppliers have an ongoing opportunity to introduce new telematics to a niche group of consumers that's always looking for the latest. The study also found that women (18.1 percent) place more importance on state-of-the-art electronic accessories when purchasing a new vehicle than do men (15.1 percent). "Women represent a strong purchasing force in the auto industry," said Reid. "The auto industry estimates that more than 11 million people will have access to telematics within the next four years. And since women make up a significant part of this market, automakers will need to keep in tune with what women want in their vehicles to help them with their already hectic lives." Polk's Manufacturer Loyalty Excelerator(TM) report, which is the basis for the Polk Automotive Loyalty rankings and annual awards, is the latest insight into this type of consumer behavior. This report was introduced to the automotive industry in 1995 and was created to provide household loyalty information to manufacturers at many different levels. It is being used to provide loyalty percentages for the entire automotive industry to allow for cross-industry comparisons of loyalty behavior and to examine loyalty at various levels from the industry level down to the vehicle line level. The report measures loyalty throughout the entire model year so manufacturers may keep abreast of loyalty trends as they occur in the industry. Purchase/Lease Frequency and % Rating Telematics Important Every Year 21.8% Every 2-3 Years 18.9% Every 4-5 Years 15.7% Every 6 or More Years 13.6% Average 16.3% Source: Polk's Manufacturer Loyalty Excelerator(TM) Survey - 1st Half of 2000 Model Year About Polk Polk has served the automotive industry for nearly 80 years and is the longest standing curator of automobile records in the United States. Founded in Detroit in 1870, Polk launched its motor vehicle statistical operations in 1922 when the first car registration reports were published. It now provides automotive solutions to nearly every segment of the motor vehicle industry as an analytical consultant and statistician, as a provider of database-marketing services, as a supplier of vehicle histories and as a data enabler for geographic information systems. Based in Southfield, Mich., Polk is a privately held global firm, currently operating in Australia, Canada, China, France, Germany, Holland, Spain, the United Kingdom and the United States.
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