Toyota Motor Corp (ADR) (NYSE:TM) (TYO:7203) is in the lead. According to a recent report from Consumer Reports, Toyota’s brands took the lead for the eighth year in a row. Lexus brands also took a lead in the survey.
Toyota takes the lead
Consumer Reports’ Jake Fisher explained, “Toyota has a strategy that emphasizes reliability over excitement. They take a conservative approach to redesign and roll out new features slowly. The risk is they may not have the latest bells and whistles, but the reward is world class reliability.”
Toyota also shared its sales records on Monday which shows it is on track to becoming the world’s leading car maker this year. The Japanese auto maker even beat out rivals from General Motors Company (NYSE:GM) and Volkswagen AG (ADR) (OTCMKTS:VLKAY) (ETR:VOW). According to Consumer Reports, Japanese brands fared quite well this year. Other Japanese auto makers in the top ten include Mazda Motor Corp (TYO:7261) (OTCMKTS:MZDAF), Subaru, and Honda Motor Co Ltd (ADR) (NYSE:HMC) (TYO:7267). On that same list, Audi was the only highest scoring non-Japanese brand.
Consumer Reports also offered other interesting find in the survey. The biggest complaint with CR readers is Infotainment systems. Complaints included unresponsive touchscreens and trouble pairing up with phones. This hurt many brands with new models such as Fiat, Cadillac, and Infiniti.
The survey also shows Ford Motor Company (NYSE:F)’s luxury auto maker Lincoln moved up 12 places in the survey. Hyundai also moved up 8 spots. Because new automobiles tend to have the most problems, Consumer Reports recommend waiting at least a year or more after a new car comes out before purchasing it.
Truck owners who purchase new pickups from GMC and Chevrolet complained about the car’s noise issues. Those who purchase a new Mercedes-Benz lower priced CLA sedan and higher priced S-Class sedan complained about quality issues and electronics issues respectively.
The merging of Fiat and Chrysler has cause a bind for four brands which rank in the bottom four. The brands on the bottom include Dodge, Ram, Fiat, and Jeep.