General Motors Honored as Top Manufacturer in Automotive Loyalty Awards Presented by IHS Markit

General Motors Corporation retained its position as the leader in automotive manufacturer loyalty during tonights presentation of the IHS Markit Loyalty Awards, presented during Automotive News World Congress. The awards, now in their 23rd year, are presented annually by business information provider IHS Markit (Nasdaq: INFO).

IHS Markit honored winners in more than 30 categories, including General Motors for the evenings top award, Overall Loyalty to Manufacturer, with a loyalty rate of 68.3 percent, and Ford brand for Overall Loyalty to Make, with a loyalty rate of 63 percent. Automotive News World Congress is held alongside press and industry days for the North American International Auto Show in Detroit. The Automotive Loyalty Awards from IHS Markit are the industrys only fact-based awards of their kind.

Automotive manufacturers and brands were recognized for superior customer retention and conquest efforts during the 2018 model year (October 2017 through September 2018). IHS Markit analysis found that, in 2018, with approximately 17.6 million new vehicle registrations during the model year, 53.7 percent of customers returned to market to purchase or lease another new vehicle from the same make they already owned.

While this represents a record make loyalty rate, the increase was just one tenth of a percentage point from last year, demonstrating a flattening of loyalty rates in the industry after years of increases. However, the competition is stronger than ever at the top. In 2014, there was only one brand with a loyalty rate above 60 percent, and five percentage points separated the top three brands. During the 2018 model year, only three percentage points separated the top three brands, and now there are two brands with a loyalty rate above 60 percent, with the third only two tenths of a point away.

WANT TO BUILD A FINANCIAL EMPIRE?

Subscribe to the Global Banking & Finance Review Newsletter for FREE
Get Access to Exclusive Reports to Save Time & Money

By using this form you agree with the storage and handling of your data by this website. We Will Not Spam, Rent, or Sell Your Information.
All emails include an unsubscribe link. You may opt-out at any time. See our privacy policy.

Our Automotive Loyalty Awards program continues to showcase the achievements of the automakers, brands and their dealer networks to win back and conquest customers during such a competitive sales environment, said Steve Had, vice president of automotive product solutions at IHS Markit. We are honored to recognize these industry leaders that are working to improve their loyalty efforts year over year.

IHS Markit reviewed various additional influencers impacting loyalty metrics in this years analysis. As one example, make loyalty rates among those who financed through captive lenders were 57.8 percent during the 2018 model year, more than eight percentage points higher than loyalty rates of those who financed with non-captive lenders (49.4 percent loyalty). In addition, service experience played a role as well, resulting in a 4.5 percentage point lift in loyalty among owners that service within the dealer network.

Converting a customer from used to new can also impact loyalty rates. According to the analysis, 29.7 percent of used vehicle owners who returned to market for a new vehicle during the 2018 model year purchased the same brand. Likewise, customers returning to market with a Certified Pre-Owned (CPO) vehicle who purchased a new vehicle of the same brand did so at a rate of 38 percent.

As the market plateaus, insight from advanced analytics will enable OEMs and their dealers to engage with consumers more efficiently and effectively, through a better understanding of consumer buying behavior, said Kristen Balasia, vice president of automotive advisory services at IHS Markit.

Brand and Model Level Winners Honored for Segment and Ethnic Loyalty

Ford achieved the highest loyalty rate of all makes during the 2018 model year, winning the Overall Loyalty to Make award for the ninth consecutive year. The award for Highest Conquest Percentage for the 2018 model year went to Jeep for the second year in a row.

IHS Markit again honored Toyota for highest Ethnic Loyalty to Make among all ethnic groups combined, as it led in loyalty among all three ethnic groups “ African American, Hispanic and Asian.

Lincoln was a repeat winner in the Highest Loyalty to Dealer category, as more Lincoln owners returned to a Lincoln dealer for another Lincoln than any other brand during the 2018 model year.

Tesla was recognized for Most Improved Loyalty to Make for the model year and also was recognized for Most Improved Conquest Percentage during the 2018 model year.

IHS Markit also recognized 24 segment-level winners for their efforts to bring customers back for another vehicle of the same make and model in the 2018 model year.

A complete list of winners from the program is as follows:

Overall Loyalty Awards         Winner
Overall Loyalty to Manufacturer         General Motors
Overall Loyalty to Make         Ford
Highest Conquest Percentage         Jeep
Ethnic Market Loyalty to Make         Toyota
Overall Loyalty to Dealer         Lincoln
Hispanic Market Loyalty to Make         Toyota
Asian Market Loyalty to Make         Toyota
African American Market Loyalty to Make         Toyota
Most Improved Loyalty to Make         Tesla
Most Improved Conquest Percentage         Tesla
       
Segment Loyalty Awards         Winner
Luxury Compact CUV         Lincoln MKC
Luxury Full-Size SUV         Lincoln Navigator
Luxury Mid-Size CUV         Lexus RX
Luxury Mid-Size SUV         Lexus GX
Luxury Sport Car         Porsche 911
Luxury Traditional Compact Car         Lincoln MKZ
Luxury Traditional Full-Size Car         Lexus LS
Luxury Traditional Mid-Size Car         Lexus ES
Luxury Traditional Sub-Compact Car         BMW i3
Compact CUV         Chevrolet Equinox
Compact SUV         Jeep Wrangler

Full-Size Three-Quarter To One-Ton Pickup

        Ford F-Series
Full-Size Half-Ton Pickup         Ram 1500
Full-Size SUV         GMC Yukon Denali XL
Mid-Size CUV         Subaru Outback
Mid-Size Pickup         Toyota Tacoma
Mid-Size SUV         Jeep Grand Cherokee
Mid-Size Van         Honda Odyssey
Sport Car         Volkswagen GTI
Mid-Size Sport Car         Ford Mustang
Traditional Compact Car         Honda Civic
Traditional Full-Size Car         Toyota Avalon
Traditional Mid-Size Car         Toyota Camry
Traditional Sub-Compact Car         Mini Countryman
 

About IHS Markit (www.ihsmarkit.com)

IHS Markit (Nasdaq: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 business and government customers, including 80 percent of the Fortune Global 500 and the worlds leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.

Automotive offerings and expertise at IHS Markit span every major market and the entire automotive value chainfrom product planning to marketing, sales and the aftermarket. For additional information, please visit www.ihsmarkit.com/automotive or email [email protected].

IHS Markit is a registered trademark of IHS Markit Ltd. and/or its affiliates. All other company and product names may be trademarks of their respective owners 2019 IHS Markit Ltd. All rights reserved.

IHS Markit
Michelle Culver
+1 248-728-7496
[email protected]
or
Press
Team
+1 303-858-6417
[email protected]