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Polk automotive is an automotive industry research company that provides statistical reporting and analysis to manufacturers and consumers alike. Honda announced today that Polk has awarded the automaker with its 2011 Polk Automotive Loyalty Award in the category of Hispanic Market Loyalty to Make.
“Honda is thrilled to accept this award from Polk, which demonstrates how strong our products and brand resonate with buyers in the important Hispanic market,” said David Hendley, assistant vice president of sales, American Honda Motor Co., Inc. “The quality and value of our products continues to generate strong loyalty from consumers.”
Polk bases their loyalty award on a manufacturers ability to retain owners over repeat buying cycles. 5.5 million new vehicle purchases between October 1st, 2010 and September 30th, 2011 were the source of information for Polk to make it’s decision. Loyalty is defined by Polk as a household that returns to market to buy a new vehicle and stays with the same make or model as their previous automobile purchase.
When it comes to automotive loyalty, Ford proves they must be doing something right, as the company just won the 15th annual Polk Automotive Loyalty Awards.
The last time that Ford won this award was back in 1999, so they’ve had plenty of time to work on the customer loyalty aspect of the business. And it’s paid off – Ford came away on top in the many categories, including: Overall Loyalty to Manufacturer; Overall Loyalty to Make; Ethnic Market Make – African-American; and Mid/Full-Size Pickup for its F-Series truck line up.
The Polk’s Automotive Loyalty Awards are given to automakers that retain car owners over repeat buying cycles. To track owner loyalty, Polk follows trends throughout the year and completes in-depth analysis of automotive shopping behaviors, related market influencers and development of retention strategies. Polk also determines automotive loyalty when a new vehicle consumer purchases or leases another new vehicle of the same model or make.
According to Brad Smith, director of Polk’s loyalty management practice, the 2010 awards are based on an analysis of 4.9 million return-to-market events during the 2010 model year. The 2010 model year runs from October 1, 2009 through September 30, 2010.
You can see the full list of winners after the jump.