You've seen car commercials that boast about recent awards, but what do those awards really mean? Find out in this handy article from Chrysler Factory Plans.
Spend an hour watching television these days and you're likely to see a myriad of automobile commercials. Chances are most of those ads are going to name-drop some fancy, prestigious award that has been bestowed upon the vehicle by some organization, such as J.D. Power and Associates or Motor Trend magazine. But what do these awards really mean, and how are they awarded to these automakers and their products? Should buyers take these awards as an actual hallmark of excellence or is this just a marketing ploy designed to attract consumers and their checkbooks?
The answer is, both. Awards are nice, but why should you care when you walk on the lot to buy a vehicle? Let's take a look at a few of the most popular and well-known automotive industry awards that car companies mention the most. It's likely you have heard of all of these awards but you're not quite sure who's issuing them or why? We have some answers for you, so the next time one of those car commercials mentions a fancy-sounding award, you can tell what the award really means when it comes to finding a truly reliable product lauded by a trustworthy organization.
J.D. Power and Associates
This is the award name you probably the most recognize and mentioned of all car awards. J.D. Power and Associates is a marketing company that hands out a multitude of awards in a variety of categories from automobiles to homes to electronics. In the category of automobiles, the firm compiles consumer opinions from a predetermined sample size for a range of criteria, including new car dependability, dealer service, buyer experience, third-party websites, and satisfaction of ownership, just to name a few. The company then sells the results of their surveys to the car companies who wish to include the award as part of their advertising campaign. So, while the award is given based on consumer opinion, you could also consider it marketing ploy as well.
Motor Trend is a monthly automotive magazine, considered to be the most popular and trusted publication covering every aspect of the industry. The magazine gives out their Car of the Year award symbolized by their Golden Calipers trophy, which manufacturers usually predominantly display in commercials for the vehicle that won it. Since Motor Trend magazine is such a highly-respected publication, the award comes with some influential prestige because the vehicles are judged on performance capabilities and not consumer opinion.
Kelley Blue Book
The Kelley Blue Book, also known as KBB, is the industry standard by which all cars are valued for appraisal at the time of sale. The organization identifies its Best Buy awards based upon a range of qualifying criteria from fuel efficiency to rate of depreciation in order to judge which vehicles are the best value for consumers. Similar to Motor Trend, consumers can take comfort in knowing that an award from KBB is presented on the strength of stringent standards that analyze every vehicle's fact-based ratings of safety, quality, value, and performance. Neither Motor Trend nor Kelley Blue Book charge automotive companies for the use of their awards in advertising.
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