Loyal auto-buyers want a lot more choice
The more vehicle choices an automaker provides for a returning customer, the more likely the customer will remain within the manufacturer family, says the president and CEO of R L Polk & Co.
The ninth annual Polk Automotive Loyalty Awards have seen Buick, Cadillac, Chrysler, Ford Division, General Motors Corp., Jaguar, Land Rover, Mercury, Lexus, Saturn, Subaru and Toyota capture honours for loyalty in the 2004 motoring year. General Motors won for the fifth consecutive year in the Overall Manufacturer category.
"General Motors' success can be partially attributed to the wide range of vehicle offerings," said Stephen R. Polk, president and CEO of R. L. Polk & Co.
Ford Division, increasing its loyalty rate slightly from the previous year, won the Overall Make Award. Ford Division has won the award every year since the inaugural year of the Polk Loyalty Awards in 1996 and boasted the highest number of model loyalty awards with four models posting the highest loyalty rate within their vehicle segments.
First time winners The Jaguar XK and Land Rover Range Rover won in the Prestige Sports Car and Prestige SUV categories, respectively. This marks the first year a model from either make has won an award.
According to Lonnie Miller, director of Analytical Solutions for Polk, "2004 placed added emphasis on new passenger cars and we expect the car-based segments will continue to diversify over the coming years." Miller adds that automakers must continue to focus their efforts on retaining customers to their models in this increasingly expanded market.
The Polk Automotive Loyalty Awards recognise manufacturers for superior owner loyalty performance. Loyalty is determined when a household that owns a new vehicle returns to market and purchases or leases another new vehicle of the same model or make.