Tesla captures multiple awards; Mercedes-Benz and Subaru win
awards for first time in several years
SOUTHFIELD, Mich., Feb. 27,
2023 /PRNewswire/ -- S&P
Global Mobility today announced the winners of its
27th annual Automotive Loyalty Awards,
recognizing General Motors as the winner of its 'Overall Loyalty to
Manufacturer' award and Tesla for 'Overall Loyalty to Make.'
Tracking buying activity from January – December 2022, the industry faced many obstacles
as fewer customers returned to market and loyalty fell for the
third year in a row.
Calendar year 2022
marks the eighth consecutive win for GM in the 'Overall
Loyalty to Manufacturer' category
"The past three years have been a challenge for the automotive
industry," said Joe LaFeir,
President, Automotive Insights, S&P Global Mobility. "As
customers are returning back to market post pandemic and inventory
levels have slowly improved from last year's lows, retaining loyal
customers has been more challenging than ever before."
Industry-wide inventory shortages prompted many consumers to
shop other brands if their previously chosen brand did not have
sufficient stock. From pre-pandemic 2019, overall industry average
loyalty has decreased from 54.6% to 50.2% in 2022.
Calendar year 2022 marks the
eighth consecutive win for GM in the 'Overall Loyalty to
Manufacturer' category, and 19th win in the last 27
years. Consistent demand for GM's sport-utility and pickup
offerings, in addition to rising Inventory levels, led to strong
loyalty gains for the manufacturer throughout 2022.
On top of its 'Overall Loyalty to Make' recognition, Tesla
scored repeat wins for 'Highest Conquest Percentage' and
"Alternative Powertrain Loyalty to Make.' The combination of an
active return-to-market consumer base and majority share of BEV
sales were contributors to Tesla's loyalty performance this year.
However, the brand's resonance with ethnic consumers was a key
driver in its recognition for loyalty improvement and diversity
retention.
Ethnic consumers represented 40% of all personal vehicle
registrations for 2022, an increase of two percentage points from
the previous year. For more than 15 years, Ethnic customer
retention has been part of the loyalty awards program in various
forms. For 2022, S&P Global Mobility has combined the diverse
consumer base under one category, 'Ethnic Market Loyalty to Make,'
to reflect the combined growth in the ethnic market over the last
several years. Tesla was the winner of this year's award as 52% of
its loyal volume came from ethnic consumers.
"Ethnic buyers have increased their market share in the industry
every year for the last decade, making them an important audience
in building loyalty success for the foreseeable future," said
Vince Palomarez, product manager,
Loyalty, at S&P Global Mobility.
Mercedes-Benz, with the successful launch of the EQS, was
recognized this year as the winner for 'Most Improved Alternative
Powertrain Loyalty to Make' award, recognizing a brand's
improvement in its ability to retain an owner to both the brand and
either a BEV or hybrid powertrain.
Subaru scored its first win in the 'Overall Loyalty to Dealer'
category as 38 percent of Subaru owners returning to market
acquired their next vehicle from the same dealer.
A complete list of 2022 award winners follows:
MANUFACTURER AND
MAKE LOYALTY AWARDS
|
WINNER
|
Overall Loyalty to
Manufacturer
|
General
Motors*
|
Overall Loyalty to
Make
|
Tesla
|
Ethnic Market Loyalty
to Make
|
Tesla
|
Most Improved Make
Loyalty
|
Tesla
|
Overall Loyalty to
Dealer
|
Subaru
|
Highest Conquest
Percentage
|
Tesla*
|
Alternative Powertrain
Loyalty to Make
|
Tesla*
|
Most Improved
Alternative Powertrain Loyalty to Make
|
Mercedes-Benz
|
|
|
SEGMENT MODEL
LOYALTY AWARDS
|
WINNER
|
Small
Utility
|
Chevrolet
Equinox
|
Mid-Size
Utility
|
Subaru
Outback
|
Full-Size
Utility
|
Chevrolet
Tahoe
|
Mid-Size
Pickup
|
Honda
Ridgeline*
|
Light-Duty
Pickup
|
Ford
F-Series
|
Heavy-Duty
Pickup
|
Chevrolet Silverado
2500/3500
|
Van
|
Mercedes-Benz
Sprinter
|
Sports Car
|
Dodge
Challenger*
|
Small Car
|
Chevrolet
Bolt*
|
Large Car
|
Nissan
Altima
|
Luxury Small
Utility
|
Tesla Model
Y
|
Luxury Mid-Size
Utility
|
Lincoln
Nautilus
|
Luxury Full-Size
Utility
|
Land Rover Range
Rover
|
Luxury Sports
Car
|
Chevrolet
Corvette*
|
Luxury Small
Car
|
Tesla Model
3
|
Luxury Mid-Size
Car
|
Lexus ES*
|
Luxury Full-Size
Car
|
Mercedes-Benz
S-Class*
|
Note: *repeat winner from the 2021 awards.
Loyalty Awards Methodology
This year's awards are
based on a fact-based analysis of 11.7 million new retail vehicle
registrations in the U.S. during the 2022 calendar year. Loyalty is
determined when a household that owns a new vehicle returns to
market and acquires another new vehicle of the same make, model or
manufacturer. The newly acquired vehicle may be either a
replacement or an addition to the household fleet.
S&P Global Mobility has been tracking automotive loyalty for
27 years. Major automakers and their marketing partners rely on
these data and analyses to make informed decisions surrounding
related to customer purchasing behavior, including conquest and
retention. The Automotive Loyalty Awards from S&P Global
Mobility are the industry's only fact-based awards of their
kind. For more information, please visit this link.
About S&P Global Mobility
(www.spglobal.com/mobility)
At S&P Global Mobility, we provide invaluable insights
derived from unmatched automotive data, enabling our customers to
anticipate change and make decisions with conviction. Our expertise
helps them to optimize their businesses, reach the right consumers,
and shape the future of mobility. We open the door to automotive
innovation, revealing the buying patterns of today and helping
customers plan for the emerging technologies of tomorrow.
S&P Global Mobility is a division of S&P Global (NYSE:
SPGI). S&P Global is the world's foremost provider of credit
ratings, benchmarks, analytics and workflow solutions in the global
capital, commodity and automotive markets. With every one of our
offerings, we help many of the world's leading organizations
navigate the economic landscape so they can plan for tomorrow,
today. For more information, visit www.spglobal.com/mobility.
Editor's note: S&P Global Mobility will
discuss the awards and automotive loyalty trends during its
Quarterly Loyalty Summit (webinar) on Tuesday, February 28 at 1:00 pm ET. Media are invited to join for the
session. Please use this link to register.
Media Contact:
Michelle
Culver
S&P Global Mobility
248.728.7496 or 248.342.6211
Michelle.culver@spglobal.com
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SOURCE S&P Global Mobility