DETROIT — During IHS Markit’s 21st annual Automotive Loyalty Awards, the company recognized automakers who have displayed excellent levels of customer loyalty from various demographics. In total, the awards show recognized winners in more than 30 categories.
Two of the night's winners included General Motors, which took home the show’s top award, “Overall Loyalty to Manufacturer,” and Ford, which took home the “Overall Loyalty to Make” award.
”We are proud to recognize so many loyalty leaders in the automotive industry,” said Joe LaFeir, senior vice president, automotive for IHS Markit. “Our Automotive Loyalty Awards program highlights the ongoing successes of automakers and brands that continue to win back customers in this hyper-competitive environment. We commend those that are working to improve their efforts in this area.”
The Automotive Loyalty Awards, IHS Markit stated, are the industry’s only fact-based awards of its kind. Automotive manufacturers and brands were recognized for superior customer retention and conquest efforts during the 2016 model year.
According to IHS Markit analysis, there were 17.5 million new-vehicle registrations during the 2016 model year. Out of that, 52.8% of customers returned to market to purchase from the same make they already owned. This, the company added, represents a record loyalty rate and a 1.3% year-over-year increase in customer loyalty.
The Ford brand was also honored with the ethnic loyalty to make award for displaying the highest level of loyalty from all ethnic groups combined. Toyota received an award for loyalty success with Hispanic consumers and Mercedes-Benz received the award for highest loyalty among Asian consumers.
For a full list of winners, click here.
Originally posted on F&I and Showroom
See all comments