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J.D. Power study to cover 2-wheelers from next year

Our Bureau

NEW DELHI, Aug. 28

RENOWNED automobile rating agency and consultants, J.D. Power Asia Pacific, will start a customer satisfaction survey for two-wheelers next year, according to Mr Rajeev Lochan, Business Manager. J.D. Power has so far been doing such ratings for four-whee lers and auto finances in the country.

J.D. Power did not detail the procedures for the proposed survey on two-wheelers.

Meanwhile, the agency, in a survey on satisfaction, found out that Indian consumers identify ease and speed of the loan application and approval process, as well as flexibility of evaluation procedures as the prime drivers of automotive financing.

The response to the `J.D. Power Asia Pacific 2001 India Consumer Financing Satisfaction Study' assumes significance as traditionally, the interest rates were assumed to be the key driver for automobile loans, J.D. Power Asia Pacific, the Asia branch of t he US-based J.D. Power Associates, said.

``The trend over the past two years shows that the interest rate, while important, is not a key driver of satisfaction,'' Mr Lochan said.

This year's study results show that State Bank of India ranks the highest in consumer financing satisfaction with a Consumer Finance Satisfaction Index score of 797.

Performance is measured by four factors that determine satisfaction -- application process, approval and documentation, finance advisor and loan value.

Sundaram Finance with a score of 774, Kotak Mahindra Primus with 763, Tata Finance with 752, HDFC with 747 and Citibank and HSBC with 738 followed SBI. The industry average was 735 points.

J.D. Power said the study also showed that customers, who obtained their loans from a nationalised bank, are relatively more satisfied than those choosing a non-banking finance company or a foreign bank.

In the sales satisfaction index study of J.D. Power, Honda Siel had ranked the highest.