Study Finds Increase in Customer Loyalty
In a recent study completed by Polk, an auto-industry data company, data demonstrated that car shoppers are becoming more brand loyal. Certain auto companies are making bigger gains than others. The study was done on repeat buying behavior and among brands with at least 1,000 former new vehicle buyers returning to the U.S. new-car market in the first quarter.
Good news for Cadillac, the brand posted an increase of 8.3 percentage points from quarter one of 2012 to quarter one of 2013. Other brands including GMC and Buick saw loyalty increases of 5.7 and 5.3 points respectively. Lonnie Miller, vice president of Polk’s loyalty management practice said that for all brands strong-selling models fuel customer loyalty for the brand. For Cadillac, Miller said that the CTS is the strong brand loyalty producer.
But how does Polk find this information? The loyalty analysis is based on actual new vehicle registration information from all 50 states and Washington D.C. Besides providing proof that Cadillac, Buick, and GMC customers are satisfied and buying more vehicles that they trust from our brands, the analysis also helps the original equipment manufacturers, auto dealers, marketers, and ad agencies. The findings help improve the number of owners who remain loyal to the brand with their next vehicle purchases and additional vehicle purchases.
Prospective car buyers should consider this loyalty data as a great sign of what to expect from your new Cadillac, Buick, or GMC vehicle from Arnie Bauer.