Car Buyers Still Loyal to their Brand
The latest survey from Consumer Reports says brand loyalty is still alive and that 73% of car buyers are somewhat or very likely to purchase the same make they currently drive the next time they shop for a new car.
The survey also found that women are more likely to be brand loyal than men, with 54% compared to 43% claiming they are very likely to purchase another car of the same make as they currently own. The same applies for older drivers. Among drivers 35 and older, at least 50% plan to stay with the brand they already own. Only 41% of drivers aged 18 to 34 years old felt the same. CR also found that household income does not play a role in car brand loyalty. Affluent consumers and those of lesser means were nearly equal in their attachment to a brand.
Asked what it would take to make them switch brands, respondents listed dealer issues as the least likely reason to switch, suggesting that the overall dealership experience in the industry is very satisfactory regardless the franchise. Ranked well above dealership reputation and location as a reason to switch brand are higher quality-75%; better fuel economy-73%; lower price-67%; better safety record-65%; more standard equipment-62%; better overall reputation-61%; lower-cost financing-57%; free maintenance-57%; generous trade-in allowance-57%; and bigger cash rebate-56%.
Men and women weigh those factors differently. Women are most drawn to better fuel economy (76%), a better safety record (72%), and more standard equipment (65%). Men share similar priorities, though the percent of men influenced by these factors was lower.
The magazine says automakers have direct control over all of the factors that influence more than 60% of consumers. A dealers influence is mostly limited to how they advertise and present a vehicle in the showroom and such factors as customer-service reputation and financial dealings.
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