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When it comes to automotive brand loyalty, consumers trust Hyundai, this according to a new study.
The study was done by Experian Automotive, a data service that tracks vehicle registration data and consumer attitudes, and it found that consumers really trust Hyundai. But making big progress is Ford – the automaker took six of the top spots in the top 10 product categories.
Nabbing the top position, Hyundai scored well with a loyalty rate of 49.6 percent. This is the first time the Korean automaker topped the list, beating out GM, Ford and Toyota. In this study, loyalty is determined by the repurchase rate of its owners. And Hyundai had a good year, sales wise - its brand market share jumped to 9.2 percent during the second quarter of this year (up from 7.9 percent last year).
In second place was General Motors, with a loyalty rate of 48.1 percent, with Ford taking the third spot at 47.6 percent. Ford did great when it came to loyalty for specific products – the Ford Fiesta and Fusion are just two of Ford’s vehicles that took six of the Top 10 positions.
Driving away with first place for the product with the highest individual loyalty was the Kia Forte with 68 percent loyalty rate. The Soul came in fifth at 59 percent, with the Forte Koup coming in eighth with 57 percent.
[Source: The Detroit Bureau]