Here’s another positive development — especially for dealerships — that has surfaced because of the pandemic.
J.D. Power said vehicle owners remain vastly loyal to their specific brands, in part due to the effects of pandemic lockdowns. Experts made that assertion as part of the J.D. Power 2021 U.S. Automotive Brand Loyalty Study released on Thursday.
With many vehicle shoppers hesitant to venture out to showrooms, J.D. Power vice president of data & analytics Tyson Jominy explained that they often relied on their relationship with their current dealer.
“The time period for this study traversed nationwide lockdowns, a recovery from the worst of the pandemic and the effect chip shortages had on vehicle inventory,” Jominy said in a news release. “During the height of the lockdown, shoppers who were unable — or unwilling — to visit showrooms in-person weren’t shopping around as much but could still call a dealer and have a vehicle delivered to their homes.
“The bottom line is finding a vehicle required working closely with a dealer and, when presented with obstacles, shoppers turned to the dealer they already knew. As a result, the level of increased loyalty this year is remarkable,” Jominy went on to say.
Using data from the Power Information Network, J.D. Power explained the study — now in its third year — calculated whether an owner purchased the same brand after trading in an existing vehicle on a new vehicle.
The firm said customer loyalty is based on the percentage of vehicle owners who choose the same brand when trading in or purchasing their next vehicle.
In general, the study showed brand loyalty improved across the board and is also stronger for the highest-ranked brands compared with 2020.
Lexus ranked highest among premium brands for a third consecutive year with a 51.6% loyalty rate. Porsche (50.2%) came in second, followed by Mercedes-Benz (47.0%), BMW (45.6%) and Audi (45.5%).
Subaru took the top spot among mass market brands and highest overall in the automotive industry for a third consecutive year with a loyalty rate of 61.8%. Toyota followed in second (61.1%), followed by Honda (59.3%), RAM (56.8%) and Ford (53.9%).
J.D. Power mentioned the most improved brand year-over-year in the premium segment was Acura, which improved by 7.1 percentage points, while Mazda generated the highest improvement in the mass market segment, gaining 5.9 percentage points
J.D. Power noted that calculations for the 2021 U.S. Automotive Brand Loyalty Study are based on transaction data from last June through May and include all model years traded.
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July 15, 2021 at 10:45PM
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J.D. Power: Pandemic reinforced OEM brand loyalty - Auto Remarketing
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