In recent months, Ford has fared quite well in terms of brand loyalty, scoring top honors in IHS Markit’s Overall Loyalty to Make category in the 2022 Automotive Loyalty Awards, while the Ford Edge earned the best loyalty ranking of any vehicle from that same organization and Ford trucks secured the highest loyalty score in their specific segment in the J.D. Power 2022 U.S. Automotive Brand Loyalty Study. That trend continued recently as Ford posted the largest increase of any automaker in terms of brand loyalty for July 2022 in S&P Global’s Top 10 Industry Trends Report, a list that Lincoln also fared quite well on among all other luxury brands.
Lincoln ranked second on this particular list with a 12.2 percent year-over-year increase in brand loyalty. Tesla led the way with a 13.1 percent increase, while Mercedes-Benz (4.1 percent), Audi (1.6 percent), Cadillac (0.9 percent), and Jaguar (0.3 percent) were the only other brands to see loyalty rise. Meanwhile, a host of others saw a decline in brand loyalty, including Infiniti (-1.2 percent), Maserati (-1.8 percent), BMW (-3.4 percent), Lexus (-4.0 percent), Alfa Romeo (-5.5 percent), Volvo (-5.5 percent), Land Rover (-7.8 percent), Porsche (-8.3 percent), Acura (-18.7 percent), and Genesis (-19.2 percent).
As Ford Authority reported last week, Lincoln isn’t losing many customers to Tesla – with a defection rate of less than two percent over the past year. Other brands didn’t fare quite as well, however, as Tesla retained a significant 67 percent of its owners, while Polestar lost 16.2 percent, followed by Rivian (14.5 percent), Lucid (13.9 percent), Mercedes-Benz (7.9 percent), Audi (7.6 percent), BMW (7 percent), Porsche (6.9 percent), Land Rover (6.6 percent), and Volvo (6.4 percent), to name just a few.
S&P Global derives the results for its Top 10 Industry Trends report from new and used vehicle registration data and registration data-derived loyalty data. The goal of this report is to highlight high-level trends in the new and used vehicle markets in the U.S., focusing on the most pertinent categories that have the biggest impact on automakers.