GM Tops Brand Loyalty in 2024 : General Motors had the highest number of repeat customers of any auto manufacturer last year, the Detroit automaker’s 10th consecutive year to claim that distinction, according to customer purchasing data released Wednesday by S&P Global Mobility.Best prices starts from $35.
Gold cards available. The findings from S&P Global Mobility, an automotive data and research firm based in Southfield, are based on an analysis of new retail vehicle registrations in the U.S., which includes more than 13.1 million vehicles in 2024.The U.S. Automotive Loyalty Awards,
now in its 29th year from S&P Global Mobility, measures brand loyalty as the percentage of a household owning a new vehicle that returns to market to buy another vehicle of the same make, model or manufacturer.The Chevrolet Equinox was the most loyal buyer small utility
but Ford Motor Co. dominated the pickup categories and luxury midsize and full-size utility vehicles. The Lincoln Nautilus was named Overall Loyalty to Model, Lincoln’s second victory in a category that was introduced in 2022. Winner 2023: Lincoln CorsairStellantis triumphed in a single category: midsize utility, with its Jeep Grand Cherokee. Tata Motors-owned Land Rover
won most improved for make loyalty, because of bigger inventory levels and a rise in vehicle incentives, Vince Palomarez, an associate director for loyalty analysis with S&P Global Mobility, told the Detroit Free Press. Land Rover also scored double-digit percentage point increases in loyalty year-over-year in May, October and November. Levels of loyalty have risen steadily from significant decreases during the COVID-19 pandemic, when manufacturing delays and supply shortages drove some buyers to switch to other makes and models to remain in the market.
Overall brand loyalty among carmakers increased over the year, the volume of customers returning to the car market grew 4%. Those buyers usually came back for more of the same.That increase indicates customers have an instinct to remain with the brand they know, Palomarez said, but “now it’s just a question of will that at some point plateau that inventory goes up, loyalty stays the same?” Will incentives go up to regain that?”
Tesla keeps crown in make-loyalty despite Q4 slip
The number of alternative powertrain vehicles entering the market led analysts to eliminate the alternative powertrain category entirely, Palomarez said, as hybrid and all-electric customers increasingly adopted the technology.
“This will be significant as we’re entering a period of uncertainty in our industry looking at tariff and trade impacts on vehicle demand, where retention will be a larger measure of brand health,” said Joe LaFeir, president of automotive insights at S&P Global Mobility, in a statement