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General Motors is back on top again in the world of customer loyalty.
At the recent 20th Annual Automotive Loyalty Awards, which were presented by IHS Automotive, General Motors walked away with the top honor for Loyalty to Manufacturer.
The Automotive Loyalty Awards recognize automotive manufacturers and brands for customer retention and conquest efforts during the 2015 model year (October 2014-September 2015). They are the only fact-based awards of their kind in the industry.
“With the number of consumers returning to market expected to peak in 2017, and conquest efforts and competition on the rise, an increased level of focus will be required to continue driving higher volumes of loyal customers in the market,” said Steve Had, Vice President, Sales and Marketing Solutions from IHS Automotive. “The good news is that manufacturers are consciously emphasizing loyalty programs and dedicating resources to loyalty and conquest efforts as they fight for every point of market share.”
IHS identified unique groups and independent traits among consumers that must be considered by OEM marketers.
Super Loyalists: Those consumers that have returned to market three times to purchase from the same manufacturer – representing 14% of the industry − and are 76% loyal to a manufacturer.
Loyalists: Those consumers with a pattern of behavior showing them returning two times to purchase from the same manufacturer – representing 26% of the industry − and are 63.6% loyal to a manufacturer.
“Our analysis, which leverages the insights of Strategic Vision’s New Vehicle Experience Study (NVES), finds that Super Loyalists and Loyalists are far less susceptible to defection following a disappointing ownership experience,” Had said. “Other customers with less frequent repeat purchase behavior are almost twice as likely to defect compared with Super Loyalists The use of our insight and analytics to further understand these consumers can be key to bringing them back into showrooms for repeat purchases.”
According to IHS Automotive analysis, Ford was the only brand that achieved a loyalty rate of more than 60% in the model year, winning the Overall Loyalty to Make award. The award for Highest Conquest Percentage for the 2015 model year went to Jeep, which achieved a 27.8% conquest rate.
The Ford and Toyota brands were honored for loyalty success with ethnic consumers, with Toyota leading in the Asian and Hispanic consumer markets and Ford achieving highest loyalty among African American consumers.
Tesla was honored for Most Improved Conquest Percentage and Most Improved Loyalty to Make, which as a new manufacturer, helps demonstrate that Tesla is now able to compete in the mainstream market for new conquests while retaining their current customers.
IHS Automotive also recognized 25 segment-level winners that achieved loyalty among consumers compared to others within their vehicle segment:
Overall Loyalty to Manufacturer
Overall Loyalty to Make
Most Improved Loyalty to Make
African American Market Loyalty to Make
Asian Market Loyalty to Make
Hispanic Market Loyalty to Make
Highest Conquest Percentage
Most Improved Conquest Percentage
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Non-Luxury Traditional Compact Car
Non-Luxury Traditional Mid-Size Car
Non-Luxury Full-Size Half-Ton Pickup
Non-Luxury Mid-Size CUV
Non-Luxury Mid-Size SUV
JEEP GRAND CHEROKEE*
Non-Luxury Traditional Sub-Compact Car
Luxury Traditional Compact Car
Luxury Mid-Size CUV
Non-Luxury Mid-Size Van
CHRYSLER TOWN & COUNTRY*
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Non-Luxury Sport Mid-Size Car
Non-Luxury Full-Size SUV
GMC YUKON DENALI XL
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Luxury Traditional Full-Size Car
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Luxury Exotic Car
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