The 2022 JD Power Automotive brand loyalty study is out, and the new car is a clear favorite among buyers. Actually, there are four favorites, but only one brand achieved two categories in the study. That brand is Toyota, but Ford has the highest percentage of loyal buyers by a slim margin.
The study is in its fourth year, and it surveys new car buyers exclusively. Moreover, it focuses on buyers who trade in the same brand of vehicle for their new purchase. Hence this study covers only franchised dealerships using data obtained from JD Power’s Power Information Network. Used cars are certainly in high demand right now, but this study offers an interesting window into the world of patient loyalty enough to get a new car amid low inventory.
And Toyota has quite a loyal following. With a loyalty rate of 62.2 percent for cars and 63.6 percent for SUVs, the automaker is the leader for the mass-market car and SUV segments. Premium brands are also categorized for cars and SUVs. Porsche scored a 57.4 loyalty rating for cars to take the title, with BMW ruling SUVs at 58.6 percent. Trucks are the last category in the study, and that honor goes to Ford. It has a loyalty rate of 63.8 percent, barely edging out Toyota for the highest percentage in the entire study.
“There are many ways to keep owners loyal, but each winning brand demonstrated a commitment to offering vehicles with fresh products, owner-focused best practices, high residual values, and compelling appeal,” Data & said JD Power VP of Analytics. Tyson Jomini. “And, for the most part, they’re all winning with market share.”
Premium brand runners-up included Genesis at 54.6 percent for cars and Lexus at 56.4 percent for SUVs. Kia followed with 54.1 percent for mass-market cars, and Subaru with 62.6 percent for SUVs. Toyota finished second behind Ford in the truck category with nearly three wins, 58.7 percent.
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