Published:
Morpace Reports: Consumers Are Half as Likely to Buy from Big Three if Bankrupt
FARMINGTON HILLS, Mich., Nov. 21 /PRNewswire/ -- General Motors CEO Rick
Wagoner's refusal to consider bankruptcy as an option is substantiated by the
results of a recent Morpace Omnibus Study.
David Myhrer, Vice President of the Morpace Automotive Brand Strategy
Practice, said the study shows that consumers who are currently likely to
purchase a new vehicle from one of the Big Three are only half as likely to do
so if the company goes bankrupt. Such an additional drop in demand would
create further financial stress for the already cash-strapped companies.
"Declaring bankruptcy could significantly reduce sales and make their cash
flow problem even worse," said Myhrer.
The Morpace study compared consumers' likelihood of purchasing a new
vehicle from one of the Big Three with their likelihood to do the same if the
companies were to go into bankruptcy. Twenty-one percent say they are
currently "very likely" to buy a vehicle from Chrysler, Ford, or General
Motors. If the company of interest were to go bankrupt, only 10 percent say
they would be "very likely" to purchase.
The Morpace Omnibus study completed 1,016 interviews using an Internet
panel of adults aged 18 and older. The sample reflects the demographic profile
of the U.S. population.
About Morpace Inc.
Morpace is a full-service survey research and consulting organization
specializing in automotive, financial services, health care, retail and
technology. Morpace has global expertise in providing innovative proprietary
solutions to clients in four core areas: market definition and segmentation;
product development and pricing; brand and image positioning; and customer
satisfaction and loyalty.
Established in 1941, Morpace Inc., an ISO 9001:2000 certified
organization, is one of the largest privately held marketing research firms in
the United States. Headquartered inFarmington Hills, Michigan the company has
offices inIrvine, California;New York City; andLondon, England.
Visit www.morpace.com for more information.
SOURCE Morpace Inc.
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