Lexus has done it again: Retained more buyers than any other luxury brand in J.D. Power’s 2021 Automotive Brand Loyalty Study. For the third consecutive year of the study, Lexus surpassed Porsche, Mercedes, BMW, and Audi with 51.6% of buyers coming back for another Lexus vehicle.
J.D. Power shared some interesting insight about how the pandemic shaped shoppers’ buying habits:
“The time period for this study traversed nationwide lockdowns, a recovery from the worst of the pandemic and the effect chip shortages had on vehicle inventory,” said Tyson Jominy, vice president of data & analytics at J.D. Power. “During the height of the lockdown, shoppers who were unable—or unwilling—to visit showrooms in-person weren’t shopping around as much but could still call a dealer and have a vehicle delivered to their homes.
“The bottom line is finding a vehicle required working closely with a dealer and, when presented with obstacles, shoppers turned to the dealer they already knew. As a result, the level of increased loyalty this year is remarkable.”
Using data from the Power Information Network, the study, now in its third year, calculates whether an owner purchased the same brand after trading in an existing vehicle on a new vehicle. Customer loyalty is based on the percentage of vehicle owners who choose the same brand when trading in or purchasing their next vehicle.
Source: JD Power