Automakers reclaim brand loyalty as inventory improves

Some automakers appear to be regaining their footing with brand loyalty among car buyers as inventory levels begin to recover.

The findings – part of the J.D. Power 2024 U.S. Automotive Brand Loyalty Study – spotlight a few high points regarding brand loyalty.

Consistently high: 

• Porsche ranks at the top of the 2024 list among premium brand car owners, with a loyalty rate of 57.5%, marking the third consecutive year the German automaker has held the highest ranking. 

• In the mass market car sector, Toyota ranks highest on the list, with a loyalty rate of 62.5%. This is the third consecutive year that Toyota has ranked at the top of its respective list as well.   

• For the third year in a row, Ford reigns as the highest among truck owners, with a loyalty rate of 65.1%.    

Top SUVs:

• Lexus tops the 2024 J.D. Power list for brand loyalty among premium brand SUV owners, with a loyalty rate of 60.2%.

• In the mass market SUV sector, Honda ranks highest, with a 64.2% loyalty rate.  

Worth noting: There were three other brands with high a loyalty rate in the J.D. Power study, all three earning the second highest ranking in their respective sectors. 

• Mercedes-Benz has a loyalty rate of 49% among premium brand car owners. 

• BMW has a loyalty rate of 55.8% among premium brand SUV owners.

• Subaru has a loyalty rate of 62.6% among mass-market SUV owners.

Different Take: An August survey by Statista Consumer Insights found that almost half of Americans said they were “likely” or “very likely” to change their car make at their next opportunity.

However, the Statista report also revealed that 86% of those surveyed were “satisfied” or “very satisfied” with their current car brand, indicating that the desire to switch brands had less to do with dissatisfaction and more to do with wanting to try something new.   

Why it matters: Brand loyalty has long been a highly valued asset in automotive sales for both automakers and retailers. That holds true even more in today’s market, given the growing number of competitors in the EV sector, in which buyers tend to be less loyal overall.

What it all means: Brand loyalty is poised to become a more elusive target in the business in the future as EV competition continues to grow, vehicle prices rise, and more Gen Z buyers enter the market. Sustaining and maintaining high brand loyalty will require dealerships and automakers to work more diligently at customer retention.  

Become an automotive insider in just 5 minutes.

Get the weekly email that delivers transparent insights into the car market.

Join 79,000 others now, it's free:

The most powerful tool in your service drive?

It’s in your technician’s pocket.

With Anyline, techs can instantly scan tire sidewalls, tread depth, VINs, DOT codes, and more—using any smartphone.

Powered by cutting-edge AI and machine learning, Anyline eliminates slow, costly manual processes, making them lightning-fast and error-free.

That’s why household names like NAPA, Discount Tire, Michelin, and Shopmonkey already rely on Anyline to boost efficiency and results.

Ready to streamline your service drive?

Visit www.anyline.com to learn more today.