Kelley Blue Book tracks consumer brand loyalty quarterly based upon vehicles owners searching for a brand the same as their current car. This quarter had a new name at the top of the list.
Where most brands have experienced a drop in loyalty numbers, Hyundai managed to succeed for the first time. The shifts in customer loyalty can be justified by a number of factors, including the state of the economy, fuel costs, recalls, and an ever expanding spread of options. Another defining factor is that Hyundai has gone a whole new direction, with great designs and major marketing efforts.
“Hyundai’s product renaissance is benefitting the company not just by attracting an all-new customer base, but by helping them to retain current loyal Hyundai owners, as well,” said Arthur Henry, market intelligence manager for Kelley Blue Book. “This latest brand loyalty analysis from kbb.com is a testament to the power of attractive vehicle designs and intriguing marketing in the minds of in-market car shoppers as they consider their next vehicle.”
2011 Second Quarter top five in brand loyalty are as follows:
1. Hyundai @ 52.3%
2. Honda @ 49.7%
3. Toyota @ 47.7%
4. Ford @ 45.4 %
5. Subaru @ 44.8%
Other brands gaining back loyalty are luxury brands, which took a downturn over the last few years. Audi, BMW, and Mercedes-Benz may still be lower than last year, but the numbers are still showing improvement.
– By: Alexandra Koken