(Page 1 of 2) 6 Battery Road #20-01 • •• • Singapore 049909 +65-6733-8980 • •• • Fax +65-6733-1861 • •• • www.jdpower.co.jp Contact: Mohit Arora, (65) 6733-8980 J.D. Power Asia Pacific Reports: MRF Ranks Highest in India Original Tire Customer Satisfaction Study FOR IMMEDIATE RELEASE: April 20, 2004 SINGAPORE—MRF ranks highest in customer satisfaction for the third consecutive year 1 in the J.D. Power Asia Pacific 2004 India Original Tire Customer Satisfaction Study SM released today. The study, in its fourth year, examines customer satisfaction with original tires at 12 to 18 months of ownership. More than 1,500 owners of 28 different vehicle models participated in the 2004 study, which was fielded from June to August 2003. A new model of customer satisfaction measurement was deployed for 2004. Overall tire performance is assessed on 20 attributes, grouped into five pre-defined factors: ride, handling, traction, durability and appearance. Unlike past years, the study now deals only with radial tires, as nearly all the new passenger vehicles sold in India are now fitted with radial tires. MRF receives the highest ratings in the study in four of the five factors determining overall satisfaction with tires: appearance, durability, traction, and handling. Bridgestone, JK Tyre and Goodyear follow MRF in the rankings, respectively. “MRF’s continued success is based on its ability to consistently deliver on those factors that are most important to its customers,” said Mohit Arora, India country manager, J.D. Power Asia Pacific. “As a result, nearly one-fourth of MRF’s customers rate their tires as outstanding.” More than 40 percent of all new-vehicle buyers indicate that tire-related features were among 1 In 2002 and 2003, MRF tied with Bridgestone to rank highest in original tire customer satisfaction in India. the considerations influencing the vehicle purchase decision. The study also reveals that more than one-fifth of all new-vehicle buyers choose the brand of tires on their new vehicles. “These findings suggest that although tire choice is often the prerogative of vehicle manufacturers, it is important that manufacturers understand the needs and concerns of the new- vehicle buyers related to original tires to ensure that customer expectations are being met,” said Arora. The occurrence of a single tire-related problem leads to a significant drop in satisfaction and intention to repurchase the same tire make. Among owners who experienced a problem, “damage from puncture” was the most reported problem for the tire industry. “Nine out of 10 MRF owners did not report a single problem with their tires,” said Arora. “It is one of the reasons why MRF owners continue to register the highest loyalty and advocacy rates in the industry.” The study examines owner evaluations with tires that were originally fitted on the new vehicle at the time of delivery. This does not necessarily mean original equipment tires since some buyers may have opted to purchase different tires at the time of delivery. J.D. Power Asia Pacific, established in 1990, conducts customer satisfaction research and provides consulting services in the automotive, information technology and finance industries. Media e-mail contact: marora@jdpower.com.sg; www.jdpower.co.jp Headquartered in Westlake Village, California, J.D. Power and Associates is a global marketing information services firm operating in key business sectors including market research, forecasting, consulting, training and customer satisfaction. The firm’s quality and satisfaction measurements are based on responses from millions of consumers annually. Media e-mail contact: michael.greywitt@jdpa.com; www.jdpower.com. This press release is provided for editorial use only. No advertising or other promotional use can be made of the information in this release or J.D. Power Asia Pacific survey results without the express prior written consent of J.D. Power Asia Pacific. # # # (Page 2 of 2) NOTE: Two charts follow. Source: J.D. Power Asia Pacific 2004 India Original Tire Customer Satisfaction Index Study SM Charts and graphs extracted from this press release must be accompanied by a statement identifying J.D. Power Asia Pacific as the publisher and the J.D. Power Asia Pacific 2004 India Original Tire Customer Satisfaction Study SM as the source. No advertising or other promotional use can be made of the information in this release or J.D. Power Asia Pacific survey results without the express prior written consent of J.D. Power Asia Pacific. J.D. Power Asia Pacific, Inc. 2004 India Original Tire Customer Satisfaction Study SM Index Score 779 770 769 767 757 600 650 700 750 800 MRF Industry Average Bridgestone JK Tyre Goodyear Original Tire Customer Satisfaction Overall Ranking Based on a 1,000-point scale Source: J.D. Power Asia Pacific 2004 India Original Tire Customer Satisfaction Study SM Charts and graphs extracted from this press release must be accompanied by a statement identifying J.D. Power Asia Pacific as the publisher and the J.D. Power Asia Pacific 2004 India Original Tire Customer Satisfaction Study SM as the source. No advertising or other promotional use can be made of the information in this release or J.D. Power Asia Pacific survey results without the express prior written consent of J.D. Power Asia Pacific. J.D. Power Asia Pacific 2004 India Original Tire Customer Satisfaction Study SM Handling 13% Overall Performance Factors Traction 16% Durability 27% Appearance 28% Ride 16%