Knowing what vehicles customers are seeking at the dealership can help accessory dealers predict what vehicles will be coming their way, so taking brand loyalty into account can be useful for mapping out business trends.
At the end of 2012, improvements in brand loyalty were dominated by import brands. Toyota, Lexus, Honda, Acura and Nissan all achieved loyalty improvements with the launch of all-new products such as the Altima, Accord, ILX, GS and EE, noted Bashar Cholagh in a blog for automotive data firm Polk.
Although Ford Motor’s brand loyalty rate decreased by 1% compared to 2011, the automaker continues to be the industry leader ranked at 61%. However, other domestic brands displayed a decrease in owner loyalty in 2012 compared to the previous year.
Chrysler Group had greater success in drawing owners from competitive brands rather than in the retention of its existing customers, but General Motors experienced heavy losses of its brand owners to Hyundai, Volkswagen and Subaru, Cholagh said.
Mercedes-Benz ranked in second place after Ford and led the industry from the luxury brand standpoint with loyalty rate of 59%, while Toyota and Honda trailed closely behind in third and fourth place at 56% and 55% respectively.