J.D. Power and Associates Reports: Huntington Ranks 8th for Prime Retail Credit in 2010 Dealer Financing Satisfaction Study
COLUMBUS, Ohio, Sept. 8 /PRNewswire/ -- J.D. Power and Associates reports in its 2010 Dealer Financing Satisfaction Study(SM) that Huntington (Nasdaq: HBAN) (www.huntington.com) ranks 8th among all lenders (bank and non-bank) in the prime retail credit segment. This was a strong showing for Huntington at the national level, even while it provides dealer financing services in just six states (Ohio, Michigan, Kentucky, Indiana, Pennsylvania and West Virginia).
Huntington customer, Al Coughlin, Jr. of Coughlin Automotive Group, commented: "We congratulate Huntington for earning this ranking in dealer satisfaction by J.D. Power and Associates in its national study. Huntington's urgency with follow-up, the professionalism of their team, and overall responsiveness to our business needs are apparent to us every day. So, Huntington's performance in this study comes as no surprise to us."
The J.D. Power and Associates 2010 Dealer Financing Satisfaction Study, which was based on responses from 2,557 dealer principals surveyed between March and April 2010, found in general that overall automobile dealer satisfaction has increased considerably from the low levels observed in 2009. The study examined three key factors that contribute to satisfaction within the prime retail credit and subprime retail credit segments: provider offering; application/approval process; and sales representative relationship.
"The overall level of service, starting with consistency in underwriting, gives our customers a unique experience that sets us apart. This approach has helped Huntington experience tremendous growth in our dealer financing business over the past year, while both the overall economy and the automobile industry have faced unprecedented challenges," said Nick Stanutz, Huntington senior executive vice president and head of the auto finance and dealer services group. "We don't just talk about outstanding customer service, we deliver it consistently."
The study found that lenders providing a highly satisfying customer experience will receive more business from their dealer customers
"We provide consistent credit underwriting decisions, all while deepening our relationships with our customers," explained Stanutz. "We continue to be positioned well to expand our customer base during a time when the number of experienced lenders is shrinking, even though the climate for the automobile industry has improved."
In the study's Prime Retail Credit segment, Huntington was ranked number eight. Huntington has previously received national recognition for its auto finance and dealer services, including a 2009 Auto Finance News Auto Finance Excellence award, which is presented annually to companies that have achieved notable success or contributed greatly to the auto finance industry.
Huntington has delivered new and used automobile financing and dealer services since the early 1950s. The bank currently provides financing for more than 2,000 dealerships throughout the Midwest.
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, training and customer satisfaction. The firm's quality and satisfaction measurements are based on responses from millions of consumers annually. For more information on cell phone ratings, car reviews and ratings, car insurance, health insurance and more, please visit JDPower.com. J.D. Power and Associates is a business unit of The McGraw-Hill Companies.
Huntington Bancshares Incorporated is a $52 billion regional bank holding company headquartered in Columbus, Ohio. Through its affiliated companies, Huntington has been providing a full range of financial services including checking, loans, savings, insurance and investment services to customers for 144 years. Huntington has more than 600 banking offices. Huntington also offers retail and commercial financial services online at huntington.com; through its telephone bank; and through its network of over 1,300 ATMs.
The logo mark and Huntington® are federally registered service marks of Huntington Bancshares Incorporated.
SOURCE Huntington Bancshares Incorporated
Released September 8, 2010