The majority of new car buyers return to the brands they know best. That is the finding of JD Power Research into car brand loyalty in 2022. The organization notes that inventory shortages and difficulties finding new cars have kept buyers loyal to the automakers they already know, driven by an intense focus on customer retention by top brands.
Tyson Jominy, JD Power’s vice president of data and analytics, said that “the issue of tight supply chain and production that is below normal could have been quite disruptive to loyalty, but the top brands excelled by staying focused on the retaining owners in the brand.” He also said that automakers with the most loyal customers tend to keep new products coming and focus on improving the value retention of existing models. Looking at the rankings, Jominy’s rating seems perfect.
- Porsche took the top spot for premium car brands with a loyalty score of 57.4 percent, and the brand’s customers come back year after year to buy the latest 911 or, now, the new Taycan EV.
- Genesis came in second among the premium car brands with a loyalty of 54.6 percent.
- BMW and Lexus topped the luxury SUV rankings, with 58.6 and 56.4 percent loyalty, respectively.
- Toyota came out on top in both mass-market cars (Kia came in second) and mass-market SUVs (Subaru came in second).
- And Ford topped the truck segment, with Toyota in second place.
This is the fourth year for JD Power’s Automotive Brand Loyalty Study. The organization only uses data from franchise dealers of new vehicles and assesses loyalty based on the number of buyers who trade in an existing vehicle of the same brand at the time of purchase. JD Power redesigned the survey in 2022 with new categories for premium cars, premium SUVs, mass-market cars, mass-market SUVs and trucks.