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| AUTO SEARCH PHILIPPINES |
| J.D. Power Asia Pacific Reports: Mitsubishi Achieves Highest Ranking in Philippines Sales Satisfaction Study Overall Industry Satisfaction in the Philippines Declines as Shoppers Have Higher Expectations SINGAPORE: 14 August 2009 — Mitsubishi improves by two rank positions from 2008 to rank highest in overall new-vehicle sales satisfaction in the Philippines, according to the J.D. Power Asia Pacific 2009 Philippines Sales Satisfaction Index (SSI) StudySM released today. Now in its ninth year, the study measures new-vehicle owner satisfaction with sales and delivery experience and examines seven key factors that contribute to overall satisfaction. In order of importance, these factors are delivery process; delivery timing; salesperson; paperwork; deal; sales initiation; and dealer facility. Mitsubishi ranks highest with a score of 841 on a 1,000-point scale, performing particularly well in the delivery process factor. Honda and Mazda, respectively, follow in the rankings, with both brands improving from 2008. Other brands performing above the industry average are Chevrolet, Kia and Toyota. Overall industry satisfaction in 2009 averages 833, a 10-point decline from 2008. The factors with the largest declines from 2008 are delivery timing (down 14 points) and delivery process (down 13 points). The study finds that despite an overall reduction in delivery timing—down to an average of 4 days from 4.9 days in 2008—customers have higher expectations regarding delivery timing in 2009, compared with 2008. On average, customers who say delivery timing is “about as expected” receive their vehicles in 3.9 days, compared with 5.4 days in 2008. Similarly, customers who receive their vehicles in 12.9 days say their experience is “worse than expected.” This measure was considerably longer in 2008—an average of 13.7 days. “Overall vehicle sales in the Philippines have declined by approximately 3,000 units between August 2008 and February 2009, compared with the same period the year before,” said Taku Kimoto, general manager for the Philippines at J.D. Power Asia Pacific, Singapore. “With the reduction in demand, manufacturers are in a better position to improve their delivery timing. However, this positive outcome is marginalized as buyers tend to set even higher standards during an economic downturn. Buyers have more bargaining power in a severe crisis such as this, particularly in the automotive sector.” The study also finds a shift in customer satisfaction among non-determined customers. Among this group of customers, satisfaction averages 10 points below the industry average. In 2008, satisfaction among these customers was nearly equal to the industry average. Additionally, 86 percent of non-determined customers visit dealerships of two or more brands, compared with approximately half of pre-determined customers who do the same. In addition to more visits to the dealerships, non-determined customers are also more likely to take up loans, as well as receive discounts. “Manufacturers should pay more attention to the non-determined group of shoppers, which currently comprise nearly 30 percent of customers,” said Kimoto. “Non-determined customers shop around more often than their counterparts and naturally, tend to compare their options more often—making them harder to please. This group also tends to be more price-conscious, creating a challenge for manufacturers to convince these customers that they have made the right choice.” The study also finds that customer satisfaction with the overall purchase experience has a strong impact on dealer loyalty. Approximately 80 percent of “delighted” customers (those providing a rating of 10 on a 10-point scale) say they “definitely would” have their vehicle serviced at the purchase dealer, compared with just 39 percent among “disappointed” customers (those providing a rating of 5 or less). The 2009 Philippines Sales Satisfaction Index (SSI) Study is based on the responses of more than 1,400 new-vehicle owners who purchased their vehicles between August 2008 and February 2009. The study was fielded between February and April 2009. The SSI Study is one of two consumer- based studies conducted annually in the Philippines by J.D. Power Asia Pacific. The 2009 Philippines Customer Service Index (CSI) Study, which measures new-vehicle owner satisfaction with after-sales dealership service, was released in June. About J.D. Power Asia Pacific J.D. Power Asia Pacific has offices in Tokyo, Singapore, Beijing, Shanghai and Bangkok that conduct customer satisfaction research and provide performance analytics services in the automotive, information technology and finance industries. Together, the five offices bring the language of customer satisfaction to consumers and businesses in China, India, Indonesia, Japan, Malaysia, Philippines, Taiwan and Thailand. Information regarding J.D. Power Asia Pacific and its products can be accessed through the Internet at www.jdpower.com. Media e-mail contact: taku_kimoto@jdpower.com.sg. About J.D. Power and Associates Headquartered in Westlake Village, Calif., J.D. Power and Associates is a global marketing information services company operating in key business sectors including market research, forecasting, performance improvement, Web intelligence and customer satisfaction. The company’s quality and satisfaction measurements are based on responses from millions of consumers annually. J.D. Power and Associates is a business unit of The McGraw- Hill Companies. About The McGraw-Hill Companies Founded in 1888, The McGraw-Hill Companies (NYSE: MHP) is a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor's, McGraw-Hill Education, BusinessWeek and J.D. Power and Associates. The Corporation has more than 280 offices in 40 countries. Sales in 2008 were $6.4 billion. Additional information is available at www.mcgraw-hill.com. Media Relations Contacts: Taku Kimoto; General Manager; J.D. Power Asia Pacific; 08-Shenton Way, #44-02/03/04; Singapore, 068811; Phone +65-67338980; taku_kimoto@jdpower.com.sg. John Tews; Director, Media Relations; J.D. Power and Associates; 5435 Corporate Drive, Suite 300; Troy, MI, 48098 U.S.A.; 001 248-312-4119; john. tews@jdpa.com No advertising or other promotional use can be made of the information in this release without the express prior written consent of J.D. Power and Associates. http://www.jdpower.com/corporate |
| Sales Satisfaction Index Ranking (Based on a 1,000-point scale) |
| J.D. Power Asia Pacific 2009 Philippines Sales Satisfaction Index (SSI) StudySM |
Source: J.D. Power Asia Pacific 2009 Philippines Sales Satisfaction Index (SSI) StudySM Charts and graphs extracted from this press release must be accompanied by a statement identifying J.D. Power Asia Pacific as the publisher and the J.D. Power Asia Pacific 2009 Philippines Sales Satisfaction Index (SSI) StudySM as the source. Rankings are based on numerical scores and not necessarily on statistical significance. No advertising or other promotional use can be made of the information in this release or J.D. Power Asia Pacific study results without the express prior written consent of J.D. Power Asia Pacific. |
| Factors Contributing to Overall Satisfaction |
| J.D. Power Asia Pacific 2009 Philippines Sales Satisfaction Index (SSI) StudySM |
| NOTE: Percentages may not total 100 due to rounding. Source: J.D. Power Asia Pacific 2009 Philippines Sales Satisfaction Index (SSI) StudySM Charts and graphs extracted from this press release must be accompanied by a statement identifying J.D. Power Asia Pacific as the publisher and the J.D. Power Asia Pacific 2009 Philippines Sales Satisfaction Index (SSI) StudySM as the source. Rankings are based on numerical scores and not necessarily on statistical significance. No advertising or other promotional use can be made of the information in this release or J.D. Power Asia Pacific study results without the express prior written consent of J.D. Power Asia Pacific |