Which Car Brands Have the Most (and Least) Loyal Owners?
For most Americans, purchasing a car is among the most significant purchases within their lifetimes. And the qualities of a car may reflect your character: are you outdoorsy having an all-wheel-drive, an industrious employee with a massive truck, or a speedster in a sports car? How loyal are people to their brand of car?
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Perhaps you had a great experience with your vehicle and you’ll purchase that new for the rest of your life. Or what if you care about becoming practicality and attributes, and would happily drive any manufacturer? We’ve worked with countless consumers through the years, and are in a unique position to answer the question of how loyal men and women are to their automobile brands. With our data, we researched which automobiles people own at trade-in and what they purchase as their next car. Can they stay with the identical brand or not? Are people loyal to the identical type of automobile they used to drive (i.e., do SUV owners keep buying SUVs, or would they switch to sedans)? According to our data, we discovered that the brand with the most loyal owners is Lexus, followed by Mercedes-Benz after which Ford.
A Lexus proprietor is four times more likely to purchase a different Lexus than a Volkswagen owner is to purchase another Volkswagen. And the sort of vehicle with the most loyal buyers?
Then we compared the car Brands of this buy with the brand of this trade-in to compute loyalty. On average, people are not so loyal to their car brands. Among our clients who traded in a vehicle, only 19.4 percent of these continue with the exact same Car Brands. The remainder tries something different. With that context in mind, the loyalty rate among different car manufacturers may vary substantially.
So which automobile manufacturers have the most loyal owners? The next chart shows the repurchase rate for every major automobile manufacturer. The list is ordered from brands with the most to loyal followings.
Lexus, a luxury brand perennially admired because of its reliability and high customer satisfaction, takes the top place with the most loyal owners. 30.4 percent of people that trade-in Lexuses go on to decide on another Lexus. In second place is Mercedes-Benz Car Brands, a company also well-known for its luxury vehicles and customer satisfaction. Automobile loyalty isn’t only for owners of luxury automobiles. Toyota and Ford each make the best five in terms of repeat-buyers. Folks may be loyal to their automobile brands to varying amounts, but how loyal are they to this particular car they drive? The next list indicates the makes and models with the highest repurchase speed based on purchase/trade-in data from January 1, 2017, through December 31, 2017.
Given the chance to buy just about any Car Brands
30.7 percent of Corvette owners go on to buy another Corvette. Lastly, we thought we would look at the automobile type. If a person drives an SUV, sedan, truck, or a different type of automobile, how loyal are they to continue to repurchase that type of automobile. The last graph shows the proportion of owners who will be the most (and least) loyal to their kind of car at CarMax from January 1, 2017, through December 31, 2017.
By a big margin, SUV owners are most likely to continue to obtain the same style of the car; 61 percent are satisfied enough with this style of vehicle to get another. Sedans are the body type with all the next-highest repurchase rate — 47.5 percent. Two-door vehicles have a tendency to have the cheapest repurchase rate; just 5.9 percentage of two-door hatchback owners repurchase and only 8.7% of two-door truck owners go to purchase another two-door truck. Especially, four-door passenger vans (minivans) and four-door wagons also have low rates of interest.
Americans may love their cars, but they also like switching cars. After trading in their old car, over 80 percent of buyers opt to try a new brand. However, customers who purchase a Lexus and Mercedes-Benz are the most brand-loyal. And clients who push Corvettes and SUVs are also likely to stay with that sort of car.