If you've bought a new vehicle over the past year, chances are you've stuck with the same brand. At least, according to the 2022 J.D. Power U.S. Automotive Brand Loyalty Study. Researchers says the majority of new-vehicle owners this past year navigated the low vehicle inventory crunch by purchasing the same brand of vehicle which in turn, kept loyalty high in both premium and mass market segments. J.D. Power says the study has been expanded this year to include brand loyalty insights by segment categories:
- premium car
- premium SUV
- mass market car
- mass market SUV
- truck
“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,” said Tyson Jominy, vice president of data & analytics at J.D. Power. “There are multiple paths to keeping owners loyal, but every winning brand showed a commitment to launching fresh products, excellent processes focused on the vehicle owner, high residual values and offering vehicles with great appeal. And, for the most part, they’re all winning with market share."
“However, once the industry gets past the supply chain disruptions, another challenge—the EV race—is about to emerge and is likely shake up the brand loyalty status quo. There is an element of risk to brand loyalty that could erode for those sitting on the sidelines or not moving quickly enough.”
J.D. Power's brand focused study is now in its fourth year. Researchers says it uses data from the Power Information Network to calculate whether an owner purchased the same brand after trading in an existing vehicle on a new vehicle. Customer loyalty is based on the percentage of vehicle owners who choose the same brand when trading in or purchasing their next vehicle. Only sales at new-vehicle franchised dealers qualify. The study was redesigned in 2022 to include brand loyalty across five segments: premium car; premium SUV; mass market car; mass market SUV; and truck.
Highest ranking brands
- Porsche ranks highest among premium car brands with a 57.4% loyalty rate. Genesis (54.6%) ranks second.
- BMW ranks highest among premium SUV brands with a 58.6% loyalty rate. Lexus (56.4%) ranks second.
- Toyota ranks highest among mass market car brands with a 62.2% loyalty rate. Kia (54.1%) ranks second.
- Toyota ranks highest among mass market SUV brands with a 63.6% loyalty rate. Subaru (62.6%) ranks second.
- Ford ranks highest among truck brands with a 63.8% loyalty rate, the highest loyalty rate in the study. Toyota (58.7%) ranks second.
J.D. Power says the 2022 study calculations are based on transaction data from September 2021 through August 2022 and include all model years traded in.
Photo Credit: 2022 911 GT3 Touring, Gentian Blue. Porsche.