At first glance, you’d think that would be an easy question to answer. Mercedes comes to mind, as does Toyota. Honda may be a good choice, since I know families who only buy Honda products. Let’s not forget BMW, whose legions of fans are rabidly loyal to the roundel and would buy BMW appliances if only the company branched out. If you picked any of these brands other than Honda, you’d be wrong. If you picked Honda, you’d still only be partially correct.
According to J.D. Power and Associates, two automakers have tied for first place in customer retention. You already know that one is Honda, but the second automaker is Ford; both companies managed to retain 62% of their customer base in 2010, an achievement significantly above the industry norm. Under the Ford brand, the Edge, F Series and Fusion models drive this retention rate, while the Honda Accord, CR-V and Pilot keep their customers returning. What’s most interesting is the reason behind these consumer choices: buyers stayed with Ford because their new vehicle is stylish or fun to drive, and buyers stayed with Honda because of perceived resale value or vehicle safety.
Following Ford and Honda are Hyundai, Lexus and Toyota in a three-way tie for the second spot. Kia has shown the most improvement in customer retention, rising from 37% retention in 2009 to 58% retention in 2010. Overall, the industry average for retained customers has been at 48% for the past two years.
Source: Ford Motor Company