IHS Names Automotive Loyalty Award Winners; General Motors Receives Top Honors
By Business Wire News
By Business Wire News
The 20th Annual Automotive Loyalty Awards were presented this evening by IHS Automotive, part of IHS, Inc. (NYSE: IHS) and a leading source of critical information and insight to the global automotive industry. General Motors received the top honor for Loyalty to Manufacturer. The awards ceremony took place during the Automotive News World Congress, held in conjunction with the North American International Auto Show (NAIAS).
The Automotive Loyalty Awards recognize automotive manufacturers and brands for customer retention and conquest efforts during the 2015 model year (October 2014-September 2015). They are the only fact-based awards of their kind in the industry.
In this timeframe, more than 8.2 million consumers returned to market for a new vehicle, and IHS finds record loyalty rates for both make/brand and manufacturer. 51.5 percent of consumers who returned to market during the model year re-purchased their new vehicle from the same brand as their previous new vehicle purchase. 59 percent re-purchased from the same manufacturer in the timeframe. Both are up more than one percentage point over last year, and IHS expects loyalty rates will continue to increase.
“With the number of consumers returning to market expected to peak in 2017, and conquest efforts and competition on the rise, an increased level of focus will be required to continue driving higher volumes of loyal customers in the market,” said Steve Had — vice president, sales and marketing solutions from IHS Automotive — during the ceremony. “The good news is that manufacturers are consciously emphasizing loyalty programs and dedicating resources to loyalty and conquest efforts as they fight for every point of market share.”
Last year, there were just 11 makes that kept more customers than they lost during the model year. This year, there are 14, according to IHS analysis.
Additionally, IHS has identified unique groups and independent traits among consumers that must be considered by OEM marketers.
Super Loyalists: Those consumers that have returned to market three times to purchase from the same manufacturer – representing 14 percent of the industry — and are 76 percent loyal to a manufacturer
Loyalists: Those consumers with a pattern of behavior showing them returning two times to purchase from the same manufacturer – representing 26 percent of the industry — and are 63.6 percent loyal to a manufacturer.
“Our analysis, which leverages the insights of Strategic Vision’s New Vehicle Experience Study (NVES), finds that Super Loyalists and Loyalists are far less susceptible to defection following a disappointing ownership experience,” Had said. “Other customers with less frequent repeat purchase behavior are almost twice as likely to defect compared with Super Loyalists The use of our insight and analytics to further understand these consumers can be key to bringing them back into showrooms for repeat purchases.”
IHS Automotive analysis indicates that Ford was the only brand that achieved a loyalty rate of more than 60 percent in the model year, winning the Overall Loyalty to Make award. The award for Highest Conquest Percentage for the 2015 model year went to Jeep, which achieved a 27.8 percent conquest rate.
The Ford and Toyota brands were honored for loyalty success with ethnic consumers, with Toyota leading in the Asian and Hispanic consumer markets and Ford achieving highest loyalty among African American consumers.
Tesla was honored for Most Improved Conquest Percentage and Most Improved Loyalty to Make, which as a new manufacturer, helps demonstrate that Tesla is now able to compete in the mainstream market for new conquests while retaining their current customers.
IHS Automotive also recognized 25 segment-level winners that achieved loyalty among consumers compared to others within their vehicle segment.
A complete list of winners from the program is as follows:
|2015 Model Year IHS Automotive Loyalty Award Winners|
|CATEGORY||2015 MY Loyalty Award Winner|
|Overall Loyalty to Manufacturer||GENERAL MOTORS|
|Overall Loyalty to Make||FORD*|
|Most Improved Loyalty to Make||TESLA|
|African American Market Loyalty to Make||FORD*|
|Asian Market Loyalty to Make||TOYOTA*|
|Hispanic Market Loyalty to Make||TOYOTA*|
|Highest Conquest Percentage||JEEP|
|Most Improved Conquest Percentage||TESLA|
|Non-Luxury Compact CUV||JEEP RENEGADE|
|Non-Luxury Traditional Compact Car||NISSAN LEAF*|
|Non-Luxury Traditional Mid-Size Car||HYUNDAI SONATA|
|Non-Luxury Full-Size Half-Ton Pickup||FORD F-SERIES|
|Non-Luxury Mid-Size CUV||SUBARU OUTBACK|
|Non-Luxury Mid-Size SUV||JEEP GRAND CHEROKEE*|
|Non-Luxury Traditional Sub-Compact Car||MITSUBISHI MIRAGE*|
|Luxury Traditional Compact Car||MERCEDES-BENZ C-CLASS|
|Luxury Mid-Size CUV||LEXUS RX*|
|Non-Luxury Mid-Size Van||CHRYSLER TOWN & COUNTRY*|
|Non-Luxury Mid-Size Pickup||CHEVROLET COLORADO|
|Luxury Compact CUV||VOLVO XC60|
|Non-Luxury Traditional Full-Size Car||TOYOTA AVALON*|
|Luxury Traditional Mid-Size Car||LEXUS ES|
|Non-Luxury Sport Mid-Size Car||FORD MUSTANG|
|Non-Luxury Full-Size SUV||GMC YUKON DENALI XL|
|Luxury Sport Car||CHEVROLET CORVETTE*|
|Luxury Traditional Sub-Compact Car||ACURA ILX|
|Luxury Full-Size SUV||LAND ROVER RANGE ROVER*|
|Non-Luxury Sport Car||VOLKSWAGEN GTI|
|Non-Luxury Compact SUV||JEEP WRANGLER*|
|Luxury Traditional Full-Size Car||MERCEDES-BENZ S-CLASS*|
|Luxury Mid-Size SUV||LEXUS GX|
|Luxury Exotic Car||FERRARI CALIFORNIA|
|Luxury Prestige Full-Size Car||BENTLEY CONTINENTAL*|
Source: IHS Automotive
About the Methodology
Loyalty is determined when a household that owns a new vehicle returns to market and purchases or leases another new vehicle of the same make, model or manufacturer. This year’s awards are based on an analysis of nearly 17.5 million new vehicle registrations during the 2015 model year, which ran from Oct. 1, 2014 through Sept. 30, 2015.
IHS Automotive analyzes loyalty throughout the year and regularly works with its customers to effectively manage owner loyalty and conquest efforts through in-depth research and analysis of automotive shopping behaviors, related market influencers and conquest and retention strategies.
About IHS Automotive (www.ihs.com/automotive)
IHS Automotive, part of IHS Inc. (NYSE: IHS), offers clients the most comprehensive content and deepest expertise and insight on the automotive industry available anywhere in the world today. With the 2013 addition of Polk, IHS Automotive now provides expertise and predictive insight across the entire automotive value chain from product inception—across design and production—to the sales and marketing efforts used to maximize potential in the marketplace. No other source provides a more complete picture of the global automotive industry. IHS is the leading source of information, insight and analytics in critical areas that shape today’s business landscape. IHS has been in business since 1959 and became a publicly traded company on the New York Stock Exchange in 2005. Headquartered in Englewood, Colorado, USA, IHS is committed to sustainable, profitable growth and employs approximately 8,600 people in 32 countries around the world.
IHS is a registered trademark of IHS Inc. All other company and product names may be trademarks of their respective owners. © 2016 IHS Inc. All rights reserved.