General Motors Retains Leadership as Top Manufacturer in Automotive Loyalty Awards Presented by IHS Markit
January 16 2018 - 8:17PM
Business Wire
22nd annual Automotive Loyalty Awards recognize auto
manufacturers and brands for loyalty leadership
General Motors Corporation received the top honor in automotive
manufacturer loyalty during tonight’s presentation of the IHS
Markit Loyalty Awards, presented during Automotive News World
Congress. The awards, now in their 22nd 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 evening’s top award, Overall Loyalty to
Manufacturer – with a loyalty rate of 69.1 percent, and Ford brand
for Overall Loyalty to Make – with a loyalty rate of 63.4 percent.
Automotive News World Congress is held alongside press and industry
days for the North American International Auto Show. The Automotive
Loyalty Awards from IHS Markit are the industry’s only fact-based
awards of their kind.
Automotive manufacturers and brands were recognized for superior
customer retention and conquest efforts during the 2017 model year
(October 2016 through September 2017). IHS Markit analysis found
that, with approximately 17.5 million new vehicle registrations
during the 2017 model year, 53.6 percent of customers returned to
market to purchase or lease another new vehicle from the same make
they already owned. This represents record loyalty rate and an
increase of 0.8 percentage points from last year. New to the
analysis this year is the assessment of the impact a garage mate of
the same brand has on defection. A garage containing two vehicles
of the same brand will return to repurchase from that brand 63
percent of the time. When the garage mate is a competitive brand
then the rate of return drops 20 percentage points to 43 percent
brand loyal. These data can be used to identify customers who may
look loyal to a given brand, but are actually at higher risk for
defection.
As a result of this additional analysis, Lincoln was found to be
the brand with Highest Loyalty to Dealer, meaning, 48.5 percent of
all Lincoln owners returned to a Lincoln dealer for another Lincoln
in the 2017 model year.
“Our Automotive Loyalty Awards program continues to demonstrate
the focus automakers, brands and their dealer networks place on
winning back and conquesting customers during a strong sales year
that’s become even more competitive,” said Joe LaFeir, senior vice
president, automotive, for IHS Markit. “We are honored to recognize
those industry leaders that are working to improve their loyalty
efforts year over year.”
IHS Markit has developed new tools and relationships to help
automakers and marketers improve the efficiency of owner retention.
The recent acquisition of automotiveMastermind by IHS Markit is
already providing value for key customers looking for insight into
business improvements down to the dealership level, and enables
automakers to act on insights from intelligence delivered from the
automotiveMastermind and IHS Markit portfolios, thereby improving
retention rates significantly.
“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 Steve Had, vice president, sales
and product marketing solutions, for IHS Markit.
Brand and Model Level Winners Honored for Segment and Ethnic
Loyalty
Ford achieved the highest loyalty rate of all makes during the
2017 model year, winning the Overall Loyalty to Make award. The
award for Highest Conquest Percentage for the 2017 model year went
to Jeep.
Toyota was honored 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.
Buick was named for Most Improved Loyalty to Make for the model
year and Jaguar was recognized for Most Improved Conquest
Percentage during the 2017 model year.
IHS Markit also recognized 24 segment-level winners for the 2017
model year for their efforts to bring customers back for another
vehicle of the same make and model.
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 Buick Most Improved Conquest Percentage
Jaguar
Segment Loyalty Awards Winner
Luxury Compact CUV Lincoln MKC Luxury Full-Size SUV
Land Rover Range Rover Luxury Mid-Size CUV Lincoln MKX*
Luxury Mid-Size SUV Lexus GX Luxury Sport Car Porsche
911* Luxury Traditional Compact Car Lincoln MKZ* Luxury
Traditional Full-Size Car Mercedes-Benz S-Class* Luxury
Traditional Mid-Size Car Lexus ES* Luxury Traditional
Sub-Compact BMW X1 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 Honda Ridgeline
Mid-Size SUV Jeep Grand Cherokee* Mid-Size Van Honda
Odyssey Sport Car Volkswagen GTI* Mid-Size Sport Car
Dodge Challenger* Traditional Compact Car Chevrolet Volt*
Traditional Full-Size Car Nissan Maxima* Traditional
Mid-Size Car Honda Accord* Traditional Sub-Compact Car
Mini Countryman
Source: IHS Markit. Asterisk* indicates repeat winner from 2016
Model Year Awards.
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 world’s 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 chain—from product
planning to marketing, sales and the aftermarket. For additional
information, please visit www.ihsmarkit.com/automotive or email
automotive@ihsmarkit.com.
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 © 2018 IHS Markit Ltd. All
rights reserved.
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