As a whole, the Ford F-Series lineup has long ranked among the top in terms of having the most loyal owners, a phenomenon that has played a big role in the truck’s sales success over the past four-plus decades. Folks that buy Ford F-Series trucks just tend to keep on coming back every time they’re ready to replace them with a new vehicle, earning the F-150 the top spot in the light-duty pickup category of S&P Global Mobility’s 2022 and 2023 Automotive Loyalty Awards. Now, the Ford F-150 has accomplished that same feat in the 2024 version of those same awards.
The Ford F-150 has once again been named as the top pick in the light-duty pickup segment of S&P’s Automotive Loyalty Awards, marking the third straight year it has accomplished that feat. It joins the Ford Expedition, which ranked atop the full-size SUV segment, as well as the Lincoln Corsair, which was first in both the Luxury Small Utility segment, as well as the Overall Loyalty to Model category. These accolades are based on an analysis of over 13.1 million new retail vehicle registrations in the U.S. during the 2024 calendar year and are designed to highlight the importance of brand loyalty, determined when a household that owns a new vehicle returns to the market to acquire another vehicle of the same make, model, or manufacturer.
This year, S&P found that based on consumer buying activity from January-December 2024, overall industry loyalty rates saw a slight year-over-year improvement for the third year in a row. Brand loyalty was 51.6 percent in 2024, an increase of 0.6 percentage points compared to 2023’s 51.0 percent – growth that occurred as customers returning to market increased by four percent versus the previous year, signaling not only that more people are coming back to purchase vehicles, but they are remaining with their previous brand when doing so.
“While brand loyalty is still below pre-pandemic levels, we are starting to see a consistent trend of customers going back to the brands they are familiar with,” said Joe LaFeir, President, Automotive Insights, S&P Global Mobility. “This will be important as we navigate a period of uncertainty in our industry assessing tariff and trade impacts on vehicle demand, making retention an even greater indicator of brand health.”
No Comments yet