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IHS Markit Names General Motors Top Manufacturer for Seventh Consecutive Year in its 26th Annual Automotive Loyalty Awards
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IHS Markit (NYSE: INFO) has announced the winners of the 26th annual Automotive Loyalty Awards. General Motors secured the title for 'Overall Loyalty to Manufacturer' for the seventh consecutive year, retaining 64% of its customers despite inventory shortages. Ford achieved 'Overall Loyalty to Make' for the 12th consecutive time, with a loyalty rate of 60%, mainly due to the popularity of its F-Series pickups. Volkswagen won the inaugural 'Most Improved Alternative Powertrain Loyalty' award, seeing a 17 percentage-point increase thanks to the ID.4 launch.
Positive
General Motors retained 64% of customers, demonstrating strong brand loyalty.
Ford achieved a loyalty rate of 60%, led by its F-Series pickups contributing 38% of loyal volume.
Volkswagen's alternative powertrain loyalty improved by 17 percentage points due to new electric models.
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Ford wins Overall Loyalty to Make and Volkswagen wins new Most Improved Alternative Powertrain Loyalty to Make award
SOUTHFIELD, Mich.--(BUSINESS WIRE)--
IHS Markit (NYSE: INFO), a world leader in information, analytics and solutions, today announced the winners of the 26th annual Automotive Loyalty Awards, recognizing General Motors for its leadership as top manufacturer for automotive loyalty in the U.S. in 2021. This is the seventh consecutive win for GM in the ‘Overall Loyalty to Manufacturer’ category and 18th in the last 26 years. Despite inventory constraints throughout the year, GM retained 64 percent of its customers due to continued strong demand for their utility and pickup lineup.
Ford took top honors in the ‘Overall Loyalty to Make’ category, winning its 12th consecutive award. This marks 21 wins for the brand in this category since its inception. Ford’s leadership in pickups contributed to its industry leading loyalty level of 60 percent, with F-Series accounting for 38 percent of the brand’s make loyal volume while new entries like the Bronco, Bronco Sport, Maverick, and Mustang Mach-E contributed a combined 10 percent in their first full year in the market.
In recognition of the continued investment in electrification throughout the automotive industry, IHS Markit has expanded its award categories acknowledging brand retention among hybrid and electric vehicle owners. New for 2021 is the ‘Most Improved Alternative Powertrain Loyalty to Make’ award, recognizing an OEM’s improvement in its ability to retain an owner of a hybrid or electric vehicle to the brand, and also have them purchase another alternative powertrain vehicle upon returning to market. This year’s inaugural winner is Volkswagen, which saw a 17 percentage-point improvement in alternative powertrain loyalty, compared to the previous year, due to the launch of the ID4.
“Given the unique nature of 2021, with the challenges of both the pandemic and inventory shortages, retaining customers is more important than ever,” said Joe LaFeir, President, Automotive Insights, IHS Markit. “This year’s winners have certainly demonstrated effective marketing strategies that have resonated with customers and led to more return to market activity.”
Recognizing the importance of ethnic loyalty since 2008, IHS Markit has acknowledged three brands for their efforts in retaining their diverse customer base. Ethnic consumers represented 34 percent of all new vehicle registrations in 2021, reinforcing the importance to manufacturers of appealing to these constituencies. For ‘African American Loyalty to Make’, Toyota led the field with a 61 percent retention rate among African Americans. The ‘Asian Loyalty to Make’ award was captured by Tesla for the second consecutive year, with 53 percent loyalty. Toyota was recognized for the ‘Hispanic Loyalty to Make’ award for the ninth time since the award’s inception, with 61 percent loyalty.
IHS Markit also analyzed brands for year-over-year improvement in their loyalty rates. For 2021, Genesis was honored with the ‘Most Improved Make Loyalty’ award, increasing brand loyalty by 17 percentage-points for 2021 vs. 2020. Continued success of the G80 redesign, combined with strong demand for the newly launched GV70 and GV80 utility vehicles, contributed to Genesis’ gains in loyalty for the year.
Another key metric for this year’s Loyalty Awards was conquests, due to its importance in helping a brand capture new customers. The ‘Highest Conquest Percentage’ award category was won by Tesla for the third year in a row; Tesla was able to conquest 22 percent of the eligible volume in the segments in which it competes.
Honda scored its first ever win in the ‘Overall Loyalty to Dealer’ category as 40 percent of Honda owners returning to market acquired their next vehicle from the same dealer.
A complete list of 2021 award winners follows:
MANUFACTURER AND MAKE LOYALTY AWARDS
WINNER
Overall Loyalty to Manufacturer
General Motors*
Overall Loyalty to Make
Ford*
African American Market Loyalty to Make
Toyota*
Asian Market Loyalty to Make
Tesla*
Hispanic Market Loyalty to Make
Toyota*
Most Improved Loyalty to Make
Genesis
Overall Loyalty to Dealer
Honda
Highest Conquest Percentage
Tesla*
Highest Alternative Powertrain Loyalty to Make
Tesla*
Most Improved Highest Alternative Powertrain Loyalty to Make
Volkswagen
SEGMENT MODEL LOYALTY AWARDS
WINNER
Small Utility
Ford Bronco
Mid-Size Utility
Jeep Grand Cherokee
Full-Size Utility
Ford Expedition*
Mid-Size Pickup
Honda Ridgeline
Light-Duty Pickup
Ram 1500*
Heavy-Duty Pickup
Ram 2500/3500
Van
Toyota Sienna
Sports Car
Dodge Challenger
Small Car
Chevrolet Bolt*
Large Car
Toyota Camry*
Luxury Small Utility
BMW X3
Luxury Mid-Size Utility
Lexus RX*
Luxury Full-Size Utility
Cadillac Escalade
Luxury Sports Car
Chevrolet Corvette*
Luxury Small Car
Acura TLX
Luxury Mid-Size Car
Lexus ES*
Luxury Full-Size Car
Mercedes-Benz S-Class
Note: *repeat winners from the 2020 awards, although some segment names have been adjusted
IHS Markit Methodology
This year’s awards are based on a fact-based analysis of 13.4 million new retail vehicle registrations in the U.S. during the 2021 calendar year. Loyalty is determined when a household that owns a new vehicle returns to market and acquired another new vehicle of the same make, model or manufacturer. The newly acquired vehicle may be either a replacement or an addition to the household fleet.
IHS Markit has been tracking automotive loyalty for 26 years. Major automakers and their marketing partners rely on these data and analyses to make informed decisions surrounding related to customer purchasing behavior, including conquest and retention. The Automotive Loyalty Awards by IHS Markit are the industry’s only fact-based awards of their kind. For more information, please visit: www.ihsmarkit.com/auto-loyalty.
IHS Markit (NYSE: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 business and government customers, including 80 percent of the Fortune Global 500 and the world’s leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.
Automotive offerings and expertise at IHS Markit span every major market and the entire automotive value chain—from product planning to marketing, sales and the aftermarket. For additional information, please visit www.ihsmarkit.com/automotive or email automotive@ihsmarkit.com.
Editor’s note:IHS Markit will host a webinar to discuss the awards and automotive loyalty trends on Thursday, March 3 at 1:00 pm ET. Media are invited to join for the session. Please use this link to register.
