{"id":147510,"date":"2024-08-28T13:06:22","date_gmt":"2024-08-28T12:06:22","guid":{"rendered":"http:\/\/www.spglobal.com\/mobility\/en\/research-analysis\/us-automotive-brand-loyalty-rates.html"},"modified":"2024-08-28T13:06:22","modified_gmt":"2024-08-28T12:06:22","slug":"us-automotive-brand-loyalty-rates-show-positive-shift","status":"publish","type":"post","link":"https:\/\/gamefootballmobileanimeiphone.com\/index.php\/2024\/08\/28\/us-automotive-brand-loyalty-rates-show-positive-shift\/","title":{"rendered":"US automotive brand loyalty rates show positive shift"},"content":{"rendered":"

Industry brand loyalty rates trended upward in the first half of
\n2024 following several years of flat or declining values, according
\nto a new S&P Global Mobility analysis of new vehicle
\nregistration data through the first half of the year.<\/p>\n

The industry's brand loyalty rate through June stands at 52.5%,
\nreflecting a 1.9 percentage-point improvement over the same period
\nin 2023, marking the first year-over-year increase since 2020. The
\nyear-over-year increase in loyalty is a positive sign for the
\nindustry after several years of lower loyalty levels due to
\ninventory shortages and post-pandemic recovery.<\/p>\n

More than half of all brands in the industry saw a
\nyear-over-year increase of 1 percentage point or better. This group
\nincluded both mainstream and luxury brands, which saw increases of
\n1.9 and 1.4 percentage points, respectively. Growing inventory
\nlevels and a strong pipeline of return-to- market households were
\nthe primary factors in loyalty gains for the first half of
\n2024.<\/p>\n

“Last year we saw a big jump in the number of households
\nreturning to market for a new vehicle, but the inventory was
\nlacking,” said
\nVince Palomarez<\/a>, associate director, loyalty product management
\nat S&amp;P Global Mobility. “This year, return-to-market volume
\nremains consistent; however, inventory levels are up more than 40%,
\nso households have more opportunity to remain loyal to their
\nprevious brand.”<\/p>\n

\"US<\/p>\n

Conquest trends adversely affected<\/strong><\/h2>\n

The increase in brand loyalty adversely affected conquest
\nvolume, as both sectors experienced year-over-year declines in the
\nfirst half compared to the same period last year. The luxury
\nbrands, which experienced an 18% year-over-year increase for the
\nfirst half of 2023, faced the largest decline, dropping 6.4% in the
\nfirst half of 2024. Meanwhile, mainstream brands, while still
\ndeclining year over year, saw conquest levels fall 1% vs. the first
\nhalf of 2023.<\/p>\n

\"Vehicle<\/p>\n

“The positive jump in loyalty came at the expense of conquests,”
\nsaid
\nTom Libby<\/a>, associate director for loyalty solutions and
\nindustry analysis at S&amp;P Global Mobility. “Past years have
\nshown that increases in both loyalty and conquests are possible if
\nthe pool of return-to-market rises as well. The first half of 2024
\nshowed little-to-no change in return to market, so either loyalty
\nor conquest were going to be affected.”<\/p>\n

Among individual brands, Tesla continues its run as the leader
\nin brand loyalty with a rate of 67.8% for the first half of 2024.
\nWhile all Tesla models retain more than 60% of their previous
\nowners, the Model 3 remains the leader in the brand's lineup with a
\nloyalty rate of 72.1%.<\/p>\n

“Tesla has historically been a brand with strong loyal ties
\namong their consumer base, despite a limited product portfolio,”
\nsaid Palomarez. “Changes in BEV prioritization among other OEMs,
\nalong with Tesla's directive to cut pricing when needed, has kept
\nhouseholds from defecting.”<\/p>\n

Additional mid-year highlights:<\/p>\n