Findings of the J.D. Power 2022 Automotive Brand Loyalty Study revealed that brand loyalty is increasing among new-vehicle buyers. Yahoo News reported the organization’s claims that inventory limitations and challenges in deciding on new vehicles have kept purchasers loyal to the manufacturers they already know.
The analytics company J.D. Power divided its loyalty analysis into five categories for the first time: premium car, premium SUV, mass-market car, mass-market SUV, and truck.
The percentage of new-car buyers who trade in their old automobile for another of the same brand was calculated using transaction data from September 2021 through August 2022 to determine a company’s loyalty score.
SOURCE: J.D. Power 2022 U.S. Automotive Brand Loyalty Study
The graph shows that foreign brands yielded the highest brand loyalty among the segment leaders.
Remarkably, Toyota stands out among them, topping both the mass market car brands and the mass market SUV brands segments with return rates of 62.2% and 63.6%, respectively.
Subaru, another Japanese company, landed in the second position in the mass market SUV category with 62.6%. With a rate of 54.1%, South Korean company Kia came in second place in the mass market car segment.
On the other hand, Germany dominated the premium market, while Japan overtook the mass market. With a 57.4% loyalty rate, Porsche ranked at the top of premium brands. Regarding premium SUV brands, BMW, another German manufacturer, had the highest return rate at 58.6%.
Notably, Ford was the only domestic carmaker to gain a place in a category. It also had the highest study-wide loyalty rating among truck brands, reaching 63.8%.
In a statement, J.D. Power claimed that the shortage of new vehicles was to reason for many of the increases.
| “The issue of tight supply chain and lower-than-normal production could have been quite disruptive to loyalty, but the highest-ranking brands excelled by staying focused on keeping owners in the brand,” Tyson Jominy, vice president of data & analytics at J.D. Power, said in the statement. |
