ICR Asks,
Will The Bush Bailout Rev Up Main
Street?
Media,
PA December 19, 2008 - Findings of this survey, conducted by independent market research firm, ICR / International Communications Research
reports while Wall Street put the pedal to the metal in reaction to President
Bushs bailout announcement, Main Street may be stuck in neutral. The Dow rose more than 150 points within
ninety minutes of his announcement to provide temporary assistance to GM and
Chrysler in an attempt to stave off bankruptcy and retool for the future.
ICR
/ International Communications Research surveyed 778 adults across the United States to
determine their likelihood of buying an automobile manufactured by a firm
operating under Chapter 11 bankruptcy protection. As is the case with many durable purchases,
experience is key.
ICR
found that less than half of those surveyed (45%) stated they would buy a new
American car from a manufacturer who was operating in Chapter 11 bankruptcy. ICR also found that these views are
significantly impacted by the type of car currently owned. Over 60%, (61%), of Americans who currently
owned an American car, stated they would Definitely or be Very Likely to
purchase an American car if the manufacturer was operating under Chapter
11. This compares to less than 20% (17%)
of those who do not currently own an American car.
ICR
also found that Americans are open to green vehicles, but only if the price
is right. Nearly three-fourths, (72%) of
those surveyed stated they would consider a smaller, even electric powered
vehicle, as long as it was priced similarly to current, non-green
alternatives. This number drops to
barely half (51%) if a green vehicle was priced several thousand dollars more
than those currently available.
While
price is always a consideration, especially in difficult economic times, it is
our past experiences that are the key indicators of our future decisions, says
John DeVries of ICR. Deep-seated brand
loyalty takes years to create and is not easily or quickly changed. Short-term federal financial assistance may
provide an immediate answer, but a new vision is necessary for Detroit to regain a significant position in
the Americans hearts and pocket book.
This
survey was conducted using ICRs
EXCEL Omnibus survey. EXCEL is a
national telephone omnibus service designed to meet the standards of quality
associated with custom research studies.
The EXCEL survey consists of a standard set of introductory and
demographic questions supplemented by a changing series of questions on various
topics.
EXCEL
uses a fully-replicated, stratified, single-stage random-digit-dialing (RDD)
sample of telephone households. Sample
telephone numbers are computer generated and loaded into on-line sample files
accessed directly by the CRT system.
Within each sample household, one adult respondent is randomly selected
using a computerized procedure based on the Most Recent Birthday Method.
This
survey was conducted with 778 adults from December 12 to December 15, 2008. Because this is a sample, and not an actual
population, an associated margin of error applies. At a 95% level of confidence, the margin of
error for this sample of 778 is +/- 3.51
ICR / International Communications Research
Based
in Media, PA.,
ICR is a leading market research company which conducts research in more than
90 countries. ICR offers a full line of
custom and omnibus research services.
Its omnibus solutions include small business, teen and Hispanic research
services. ICRs full suite of custom
research services are guided by industry experts and advanced analytics, with a
specialization in brand, customer loyalty, product development, market
exploration, and public affairs research.
For more information about ICR, www.icrsurvey.com.
Contact:
ICR / International Communications Research
Linda C. Lamberto
484-840-4300
info@icrsurvey.com
www.icrsurvey.com
