SANTA MONICA, Calif. — When it comes to truck loyalty, Toyota has the most loyal customers, at least according to a new analysis from Edmunds.com. And apparently, Toyota truck owners are big fans of the OEM's midsize Tacoma pickup.
According to Edmunds estimates, nearly 75% of Tacoma trade-ins this year have gone toward the purchase of another Tacoma. The popularity of Tacoma pickups, the study added, pushed Toyota’s overall truck loyalty rate to about 70%.
“Truck owners are especially passionate about their vehicles, most likely because trucks offer hauling and cargo capabilities that you just cannot find in any other vehicle segment,” said Edmunds.com Senior Analyst Ivan Drury. “Today’s trucks are particularly appealing because manufacturers pack them with more luxury and technology features than ever before. These options just weren’t available on trucks in years past. It also doesn’t hurt that today’s low gas prices make truck ownership much more economical than just a few years ago.”
To determine loyalty rate, the Edmunds analyzed the rate of truck trade-ins that went toward the purchase of another truck. By analyzing these rates, the study found that the Top 3 brands in terms of loyalty were Toyota (70% loyalty rate), Chevrolet (69.5% loyalty rate) and Ram (loyalty rate).
Overall, the truck loyalty stood at 74% through the first nine months of the year, the highest rate since Edmunds began tracking trade-ins in 2005. The current rate — along with the fact trucks have accounted for 15.1% of all new-vehicle sales through the first nine months of the year — illustrates just how popular the segment is, especially when the average transaction price for a truck has risen 46% since 2006 to $43, 277.
Originally posted on F&I and Showroom