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Customer LoginsNew vehicle models - key to year-over-year registration increases
The five makes with the largest year-over-year increases in new vehicle registrations through the first six months of 2011 have all recently introduced new or redesigned vehicles.
Mitsubishi leads the industry in year-over-year gains*, thanks in large part to the success of the all-new Outlander Sport, a more compact version of the Outlander. Both of these models play in the thriving small crossover space. Mitsubishi has also benefited from more routine registration figures for the Eclipse and Endeavor versus exceptionally low results of a year ago. Ironically, both of these holdover Mitsubishi products are slated to be discontinued in the near future.
Jeep new registrations are up by more than half, and much of this growth has been driven by the two-fold increase in registrations of the redesigned flagship, Grand Cherokee. The redesigned Compass, with styling cues (including the grille) now more in line with those of the Jeep make, has also contributed to Jeep's success.
Porsche's registrations have climbed by a third, with deliveries of the redesigned Cayenne almost doubling. The Cayenne is also now available as a hybrid. Kia's increase almost matches Porsche's, with registrations of the redesigned Kia Optima and Sportage quadrupling and doubling, respectively. Kia, like Mitsubishi and other competitors, is riding the wave of popularity of small crossovers, with the funky Soul up by two thirds and out-selling every other Kia model for June CYTD.
Lastly, MINI continues to successfully launch product extensions, with the four-door Countryman the most recent but not the last (a fastback coupe is coming). The Countryman's 1,379 six-month registration tally has pushed MINI's overall make results up a third versus a year ago.
With these substantial year-over-year sales gains, these makes will now need to focus on their CRM processes to maximize customer retention and loyalty.
*Makes with less than 5,000 June 2011 CYTD total new registrations or 0 registrations in prior year excluded
Posted by Tom Libby, PolkInsight Advisor, Polk (08.24.2011)