Data analytics and consumer information firm J.D. Power recently released the findings from its 2020 Brand Loyalty Study, which ranks major automakers on customer retention. Among the findings was ranking for the GMC brand, which placed towards the bottom of the list in this year’s study.
Using data collected via the Power Information Network, J.D. Power looked at the number of vehicle owners who bought the same brand of vehicle when purchasing or trading in a new model. The study collected data from June of 2019 to May of 2020, with all model-year vehicles considered. From this information, J.D. Power then derived percentages for each automotive brand, with higher percentages indicating higher customer retention. This year was the second running of the J.D. Power Brand Loyalty Study.
The findings were split into two categories, including mass-market brands, and luxury brands, with GMC ranked in the former. Of the 19 mass-market brands studied, GMC placed 13th with a score of 39 percent.
Topping the list was Subaru with a score of 60.5 percent, followed by Toyota with 60.3 percent, and Honda with 58.7 percent. The bottom three brands include Dodge with 17.8 percent, Chrysler with 14.1 percent, and Fiat with 10.4 percent.
GMC’s positioning in 13th ranks it above Buick, which scored 27.5 percent, and below Mazda, which scored 40.7 percent. Meanwhile, Chevrolet did a bit better in the study, with a seventh-place ranking and a score of 49.1 percent.
General Motors was also ranked in the Luxury Brand list via Cadillac, which was ranked tenth among 13 brands studied with a score of 33.8 percent.
“Automakers are really focused on customer retention, as evidenced by the payment plans and incentives they’ve offered since the COVID-19 pandemic broke out,” said vice president of data & analytics at J.D. Power, Tyson Jominy. “Many have gone above and beyond to offer customers financial assistance during a period of economic uncertainty, which does a lot to bolster customer confidence in their chosen brand and repurchase it in the future.”
Source: J.D. Power