Chevy was near the top of the list in the recent S&P Global Mobility 2023 loyalty ranking among mainstream brands.
Per a report from Automotive News, Chevy’s brand loyalty ranking for the first four months of the year was measured at 57.1 percent, and increase of 2.6 points compared to its ranking during the same time period last year.
Chevy’s loyalty ranking was just behind that of Ford, which reported 59.4 percent brand loyalty, more or less matching its loyalty rating during the same time period last year. Subaru, Nissan, Kia, and Hyundai followed Chevy in the ranking. Toyota, which typically keeps pace with Ford and Chevy, dropped 5.7 percent compared to the same time period last year, falling to 52.3 percent.
As GM Authority reported in May, GM secured the annual S&P Global Automotive Overall Loyalty to Manufacturer award for the 2022 calendar year. The General’s success was attributed to vigorous demand for its pickup and SUV models, with GM bucking the trend and retaining loyal customers despite several challenging years. In addition to securing the Overall Loyalty to Manufacturer award, GM vehicles also secured model loyalty awards in five individual segments, including Small Utility (Chevy Equinox), Full-Size Utility (Chevy Tahoe), Heavy-Duty Pickup (Chevy Silverado HD), Small Car (Chevy Bolt), and Luxury Sports Car (Chevy Corvette).
GM’s rising inventory levels and its diverse vehicle lineup were also major factors in driving GM’s loyalty success in 2022.
Per Automotive News, Tesla was a breakout performer in the latest loyalty rankings for 2023, with migrations to the all-electric vehicle producer up for nearly every mainstream brand. According to analyst Tom Libby, there’s “no doubt” that brands like Toyota and Honda are experiencing a major impact from Tesla. Tesla’s loyalty ranking was up 1.1 points in the recent study, despite not releasing a new vehicle since 2020. Tesla’s loyalty was also up 5.4 points compared to the first four months of the 2019 calendar year.