2023-11-21 14:50:35
Researchers say this shows that brand loyalty declined among new vehicle buyers this year. Researchers attribute this to having more options.
They say that as new vehicle inventory and sales recover to pre-pandemic levels, more American buyers are choosing to forego loyalty to a specific brand.
“As vehicle availability increased and more options came on the market for consumers, loyalty among brands as a whole saw a decline this year,” said Tyson Jominy, vice president of data and analytics at JD Power.
“Additionally, owners were tied to their vehicles for longer than usual due to ongoing supply chain disruptions and, as a result, were more likely to experience issues with their vehicles.”
That said, the top-ranked brands continued to do well in this year’s study, with Porsche, Toyota and Ford each taking the top spots in their respective segments for the second year in a row.
“Now that some of those issues have been alleviated, consumers are looking to get behind the wheel of something different and are no longer as loyal to one brand. However, many of the top-ranking brands achieve similar results year after year.
“An experience that meets homeowners’ expectations, such as offering excellent build quality, is likely to result in homeowners rewarding brands with their loyalty,” Jominy said.
Highest ranking brands
Premium
For the second year in a row, Porsche ranks highest among premium brand car owners, with a loyalty rating of 56.8%. Porsche had this to say about its number one premium brand ranking:
“Customer loyalty is, of course, a team effort,” said Joe Lawrence, executive vice president and chief operating officer of Porsche Cars North America (PNCA).
“From the assembly lines to our colleagues inside our independently owned and operated Porsche Centers across the United States, we are grateful for their efforts as we provide our customers with a world-class experience.”
Mercedes-Benz (50.5%) has the second highest loyalty rate among premium brands.
Volvo ranks highest among premium brand SUV owners with a loyalty rate of 56.5%. BMW (56.1%) is in second place.
mass market
Toyota ranks highest among mass-market brand car owners for the second year in a row, with a loyalty rate of 60.0%. Honda (55.0%) is in second place.
Subaru ranks highest among mass-market brand SUV owners with a loyalty rate of 61.1%. Toyota (60.5%) is in second place.
Truck segment
Ford ranks highest among truck owners for the second year in a row, with a loyalty rate of 64.6%, the highest loyalty rate in the study. Toyota (60.4%) is in second place.
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