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Vehicle owners and drivers across the country should be on high alert for unsafe and potentially deadly counterfeit auto parts as the National Intellectual Property Rights Coordination Center (IPR Center) said this week as it launched a new campaign, “Put the Brakes on Fakes.” Presumably auto repair shops know better, but AutoInformed wouldn’t bet on it.
“The rise in counterfeit automotive parts and equipment continue to be an alarming upward trend,” said IPR Center Director Ivan Arvelo. “This campaign, which is not just an initiative or routine consumer safety alert, is a movement to save lives, prevent the use of counterfeit parts, and ensure consumers and auto repair professionals are informed about critical risks associated with counterfeit and substandard auto parts.” Continue reading
Loyalty Keeps Vehicle Buyers Out of Market Amidst Shortages
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Perennial brand loyalty leaders including Toyota, Honda and Lexus have each been able to grow their respective shares of loyal customers amid stagnation experienced by other brands, according to the J.D. Power 2024 U.S. Automotive Brand Loyalty StudySM.
“Amid ongoing inventory shortages, the most loyal customers actually stayed out of the market if they were unable to get their desired vehicle,” said Tyson Jominy, vice president of data & analytics at J.D. Power. “Now that inventory levels are recovering, customers are coming back. In particular, Toyota and Honda are benefiting from increased availability of hybrid vehicles, with Honda owners swapping out their gas-powered vehicles for hybrids at nearly triple the rate of the industry average. Lexus is also benefiting from strengthened residual values, which are helping drive loyalty for the brand despite premium brands as a whole experiencing a plateau this year.” Continue reading →