OXFORD, England – LMC Automotive has acquired the automotive forecasting division from long-time partner J.D. Power and Associates, a business unit of The McGraw-Hill Companies.
LMC Automotive is part of the LMC group, a global leader in economic and business consultancy for the agri-business sector. Founded in 1980, it is privately owned and headquartered in the U.K., with offices in the U.S., Singapore, Hong Kong and Kuala Lumpur and a partner office in Brazil.
LMC provides market intelligence, analysis and advice to clients who include most of the major organizations around the world involved with agricultural commodities, foods, industrial materials, biofuels and their end-markets. Through its work on rubber and tires, the company made an organic move into the automotive industry, launching its first service in 1992.
Terms of the acquisition, which is effective immediately, were not disclosed.
"We are very excited about this acquisition, which will allow LMC Automotive to build upon our strong analytical forecasting presence," said Pete Kelly, managing director of LMC Automotive. "We look forward to concentrating on our goal of aligning our products to meet the ever-changing needs of this dynamic industry and providing the best automotive forecasting and market intelligence services available."
LMC and J.D. Power began working together in the area of automotive forecasting and market intelligence in the mid-1990s. Today, in addition to data sharing and collaborating at conferences and events, the ongoing alliance will result not only in continuity of services, but also new product opportunities in the context of the increased focus each company can now achieve.
"The ongoing alliance with LMC will allow J.D. Power to intensify its focus and investment in automotive research and retail market insights via the Power Information Network, while leveraging its working relationship with an experienced and very capable automotive forecasting organization," said John Humphrey, senior vice president of global automotive operations at J.D. Power and Associates. "Today’s agreement ensures our two companies will continue to complement each other’s automotive products and services."
