Honda 1st In Consumer Loyalty
Honda has the most loyal customers of any automotive brand. But we already knew that! Well, now it’s official, according to a customer survey released by J.D. Power and Associates. Now in its eighth year, this loyalty study “measures the rate at which automotive brands retain their existing customers and the reasons why owners remain loyal.”
in 2010, Honda is in first place (tied with American auto maker Ford), with 62% of owners remaining loyal to the brand, says to J.D. Power.
Customer retention is critical to brand success, especially as automotive industry sales slowly recover from a terrible recession.
“Now that economic and market conditions have improved somewhat, vehicle owners are increasingly citing emotional, rather than practical, reasons for staying with their vehicle brand or switching to a different one,” Raffi Festekjian, director of automotive product research at J.D. Power and Associates, said in a statement.
J.D. Power based its Customer Retention Study on responses from 123,601 new-vehicle buyers and lessees.