These 8 vehicle brands will have the most loyal customers in 2024
It may seem that today's drivers aren't as loyal to their brands as they used to be. However, a new study by US firm J.D. Power reveals that brand leaders such as Toyota, Honda and Lexus all improved their loyalty rates in 2024, while the rest of the industry stagnated or regressed.
Now in its sixth year, the study is based on U.S. transactions from September 2023 to August 2024, regardless of the model year of the trade-in. It determines the percentage of customers who choose to keep the same brand when purchasing a new vehicle from a dealer.
“During inventory shortages, the most loyal consumers put off buying if they couldn't get the vehicle of their choice, but now that inventories are going strong, they're taking action,” notes J.D. Power's vice president of data and analytics, Tyson Jominy.
“In particular, Toyota and Honda are benefiting from increased availability of their hybrid models. Honda customers are trading in their gasoline-powered vehicles for hybrids at almost three times the industry average,” he adds.
Scroll down to discover the brands with the most loyal customers in the various vehicle categories. Although this is an American study, it is reasonable to assume that the Canadian results differ only slightly.
Luxury cars - Porsche, 57.5% loyalty rate
Mercedes-Benz (49%) ranks second.
Luxury SUV - Lexus, 60.2% loyalty rate
BMW (55.8%) ranks second.
Popular cars - Toyota, 62.5% loyalty rate
Honda (58,8%) se classe deuxième.
Popular SUVs - Honda, 64.2% loyalty rate
Subaru (62.6%) ranks second.
Pickup trucks - Ford, 65.1% loyalty rate (highest in the industry)
Toyota (60.8%) ranks second.
