The customer experience matters
Automakers work hard to keep customers coming back, and increasing competition is only making that job much more difficult. Some brands are better at retaining customers than others. J.D. Power’s 2020 US Automotive Brand Loyalty Study for new cars, released this week, shows which automakers succeed in customer loyalty, and which ones have work to do.
Lexus tops the study for luxury brands with a 48 percent of customers returning to the brand. That’s followed closely by Mercedes at 47.8 percent with BMW, Porsche, and Audi trailing at 45.1 percent, 44.9 percent, and 43.4 percent, respectively. Those automakers squash brands such as Jaguar (20.7 percent), Infiniti (27.7 percent), and Maserati (28.7 percent). For US brands, Lincoln bested Cadillac 37 percent to 33.8 percent.
How Automakers Stack Up:
Mass market automakers that see a high percentage of returning customers include Subaru, Toyota, and Honda. The three
Tesla was the only car brand to increase its value.
Just three automakers made it to the top 100 brands in market researcher Kantar’s latest 2020 BrandZ Top 100 Most Valuable Brands study. Toyota, ranked 48th overall, still remains the world’s most valuable car brand despite losing approximately 3 percent of its value compared to 2019.
Mercedes-Benz is the second most valuable brand in the automotive industry according to the study, placing 56th overall, followed by BMW at 61st position, losing 9 and 12 percent respectively. Ford and Honda dropped off the top 100 list after losing 10 and 15 percent of their values compared to 2019.
The Results From 2018 And 2019:
“Since 2008, the car sector has declined in value and has never recovered,” Global BrandZ Strategy Director, Graham Staplehurst, told Automotive News. “It’s very different from other sectors. For example, the luxury sector