Tight Inventories Cause Brand Loyalty to Dip
Short supplies of new vehicles drove a dip in consumer loyalty of over 3 percentage points, according to Experian.
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Short supplies of new vehicles drove a dip in consumer loyalty of over 3 percentage points, according to U.S. registration data analysis by Experian.
Loyalty by brand fell from 61.7 % in August 2020 to 58.6% in August 2021, according to Experian. Just 13 of 45 brands experienced loyalty gains. This figure excludes Polestar, which began deliveries in December 2020.
Those who gained customer loyalty included several low-volume, high-end luxury makes, such as Aston Martin, Rolls-Royce and Bentley.
Notable gainers among mainstream automakers included Toyota, Nissan, Ram, Dodge and Mitsubishi.
Three brands beat the average by over 10 percentage points, all topping 70%: Ferrari, Freightliner and Tesla. Ferrari saw 75.8% in loyalty—the highest in the industry. In 2020, Tesla held the No. 1 spot with 77.9% loyalty.
Fiat loyalty fell to 6.2%, from 10.2% in 2020. Every General Motors and Ford Motor Co. brand saw declining loyalty, while four of Stellantis' seven brands sold in the U.S. improved: Dodge, Ram, Alfa Romeo and Maserati. Stellantis’ overall consumer loyalty rose to 47.9% from 46.3% in 2020.
Originally posted on Auto Dealer Today
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