If a vehicle owner is loyal to a specific brand, it’s becoming more difficult for another brand to woo them away when it’s time to buy a new vehicle, according to the J.D. Power 2020 U.S. Automotive Brand Loyalty Study.
“There are many factors that contribute to brand loyalty, ranging from the experience a customer has when purchasing the vehicle to how driving it makes them feel,” said Tyson Jominy, vice president of data & analytics at J.D. Power.
“Automakers are really focused on customer retention, as evidenced by the payment plans and incentives they’ve offered since the COVID-19 pandemic broke out. Many have gone above and beyond to offer customers financial assistance during a period of economic uncertainty, which does a lot to bolster consumer confidence in their chosen brand and repurchase it in the future.”
Read the article at J.D. Power.
The post Brand Loyalty Increasing among New-Vehicle Buyers, J.D. Power Finds appeared first on Fleet Management Weekly.
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