Vehicle owners’ allegiance to brands should give us all something to cheer about. This is especially true for those of you who service import vehicles.
Nine import nameplates — Infiniti, Land Rover, Lexus, Mazda, Mitsubishi, Nissan, Porsche, Subaru and Volvo — are among the 13 brands that experienced 10-year highs in loyalty rates in Q1 2015, according to new research from IHS Automotive (www.ihs.com). Underscoring that data is that fact that brand loyalty, in general, registered at 52.8% during the first quarter of 2015, says IHS.
Why such strong customer loyalty to vehicle brands? “The increased number of different models within brands makes it easier for households that may need a different type of vehicle to maintain their loyalty,” said Tom Libby, manager of automotive loyalty and industry analysis at IHS Automotive. “In addition, the increased popularity of leasing since the downturn has helped significantly as lessees are consistently more brand-loyal compared to retail owners.”
Plus, the number of models available in the U.S. market increased by 33 (12%) from 2005 to 2015, driven by major expansions of several luxury brands. Customers returning to market now have a greater number of choices at the brand from which they purchased their previous vehicle, increasing the probability that they will remain brand loyal.
This robust brand allegiance, coupled with unperformed maintenance that leaves dollars on the table, provides you with the opportunity to capitalize on the vehicle maintenance profit potential among your customer base. And, you can extend the life of your customers’ vehicles in the process, further contributing to their brand loyalty.
So what are you waiting for? Start promoting the value of preventive maintenance on the vehicles that your customers want to keep.