The Lincoln Corsair has been winning over buyers, as it topped the charts in the 2024 S&P Global Mobility Automotive Loyalty Awards. Not only did it score the overall loyalty award, it snagged the honors in the small luxury utility segment, too, defending its position as the top vehicle in the same segment in 2023.
The S&P Global Mobility Automotive Loyalty Awards are determined based on an analysis of over 13.1 million new retail vehicle registrations in the U.S. during the 2024 calendar year and serve 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. That means buyers of the Lincoln Corsair loved their vehicle so much, they returned to the market to purchase a newer model.
Based on customer purchasing activity from January through December 2024, S&P discovered that industry loyalty rates improved year-over-year at 51.6 percent, up 0.6 percentage points compared to data from 2023, during which loyalty was measured at 51.0 percent. Customers returning to market increased by four percent compared to the prior calendar year, indicating that more buyers are returning to the market to purchase vehicles – and that they tend to gravitate toward their previous vehicle’s make. Even so, though, there’s still some ground to cover to reach pre-pandemic loyalty levels.
“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.”
Beyond the Lincoln Corsair, quite a few Ford models excelled in brand loyalty this year across its lineup. The Ford F-150 earned the light duty pickup loyalty award, while the Ford Expedition topped the full-size SUV segment loyalty award. The Ford Super Duty line earned the honors in the heavy duty pickup segment as well.
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