Top Automakers Enjoying Longstanding Customer Loyalty: Tesla, GM, Lincoln Remain at the Forefront

Insights from S&P’s 28th Annual Automotive Loyalty Awards

S&P Global Mobility recently revealed the recipients of its 28th Annual Automotive Loyalty Awards, with General Motors, Tesla, and Lincoln emerging as the frontrunners. Interestingly, this isn’t the first time that Tesla and GM have performed exceptionally well in the competition. GM achieved the remarkable feat of securing the Overall Loyalty to Manufacturer accolade, while Tesla proudly claimed the title for Overall Loyalty to Make. This marks GM’s ninth consecutive victory in the Overall Loyalty to Manufacturer division, adding to its impressive record of 20 wins in 28 years.

S&P Global Mobility made a significant addition for the 2023 model year by introducing a new category for Overall Loyalty. Surprisingly, the top spot did not go to major players like GM or Tesla, but rather to the Lincoln Nautilus, proving its popularity among owners. In contrast, Toyota experienced a substantial decline compared to last year, as competitors GM, Tesla, and Ford surpassed the Japanese industry leader.

The accolade is determined using information gathered from consumer purchasing behaviors recorded from January to December 2023. S&P Global Mobility expresses hope for the automotive sector, highlighting a rise in both market expansion and customer loyalty compared to the previous year.

In the near future, Tesla’s impressive achievements may result in the downfall of GM. The fully electric car company emerged victorious in key areas such as Overall Brand Loyalty, Highest Acquisition Rate, and Alternative Energy Vehicle Brand Devotion.

In other locations, Nissan received the highly coveted Most Committed to Dealership award, as over 37% of buyers returned to the same retailer for their subsequent Nissan purchase. Acura was recognized with the esteemed Most Enhancing Brand Loyalty award, in which the debut of the new Integra undoubtedly played a significant role. Additionally, Mitsubishi’s Outlander PHEV played a key role in securing a triumph for the Japanese car company in the category of Most Enhanced Loyalty to Alternative Powertrains by Make.

Over the past few years, there has been a noticeable shift in consumer behavior as they become more adventurous and open to trying new brands. According to Joe LaFeir, President of Automotive Insights at S&P Global Mobility, this trend has been countered by the deliberate actions taken by original equipment manufacturers (OEMs) to boost customer retention. These efforts include implementing innovative marketing strategies, enhancing inventory levels, and introducing exciting new products. As a result, loyalty levels, which had been on a downward trend for several years, are now starting to stabilize.

The Annual Automotive Loyalty Awards also assess the loyalty levels within vehicle categories to determine the models that garner the most consumer devotion. Interestingly, the winners of these awards include well-known names such as the Mercedes-Benz S-Class, Ford F-Series, and Honda Accord, all of whom have consistently dominated their respective classes.

When it comes to the world of sports cars, the undisputed ruler is the Dodge Challenger, while the Porsche 911 holds the most devoted following among luxury sports car owners. Additionally, the Ford Maverick has emerged as the top choice in the midsize pickup category, followed by the Nissan Rogue as the preferred small utility vehicle. The Chevrolet Bolt takes the lead in the small car division, with the Chrysler Pacifica and Lexus ES winning their respective categories of van and midsize luxury car.

The findings were acquired by examining 12.6 million fresh records of cars being registered in the US in the year 2023.