OXFORD, England -

LMC Automotive — a branch of LMC Group, an economic and business consultancy firm based out of the U.K. — revealed this week it has acquired the automotive forecasting division from long-time business partner J.D. Power and Associates.

Commenting on the new acquisition, Pete Kelly, managing director of LMC Automotive, said, “We are very excited about this acquisition, which will allow LMC Automotive to build upon our strong analytical forecasting presence.

“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,” he continued

Terms of the acquisition — which is effective immediately — were not disclosed.

Highlighting the history of the two companies’ partnership, they began working together in the area of automotive forecasting and market intelligence in the mid-1990s, officials explained.

They went on to note that now, in addition to sharing data and collaborating at conferences and events, the partnership 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.”  

John Humphrey, senior vice president of global automotive operations at J.D. Power and Associates, also offered his take on the recent news: “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 organisation.

“Today’s (Tuesday’s) agreement ensures our two companies will continue to complement each other’s automotive products and services,” he concluded.

LMC Group provides market intelligence, analysis and advice to clients who include organizations world-wide  involved with agricultural commodities, foods, industrial materials, biofuels and their end-markets.

Through its work on rubber and tires, the company made a move into the automotive industry, launching its first service in 1992.