The loyalty of customers to GM increased during the second quarter (Q2) of 2023, according to statistics revealed in a recent loyalty analysis.
The results, published by multinational consumer reporting company Experian, show loyalty rates up for GM in both make and manufacturer terms, with loyalty to The General’s vehicles significantly higher than loyalty across the auto industry as a whole.
According to the figures, make loyalty for GM overall was 62.9 percent for the current year, meaning 62.9 percent of those who owned a Chevy, GMC, Cadillac or Buick vehicle and decided to buy a new vehicle in 2023 chose the same GM brand rather than a different GM brand or another manufacturer’s product. A year ago, make loyalty was 61.4 percent, up 1.5 percent since last year.
GM’s manufacturer loyalty also increased, from 73.8 percent to 75.8 percent, a total climb of 2 percent. Customers were more loyal to The General as a manufacturer than to every other major automaker except Tesla at 80.9 percent. Additionally, many car companies such as Ford, Stellantis, and Volkswagen lost several points of loyalty over the past year while GM gained.
GM’s 75.8 percent manufacturer loyalty was nearly 10 percentage points higher than the 66.2 percent loyalty averaged out across the whole car industry.
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Turning to individual makes, all four of The General’s main brands saw customer loyalty increase compared to last year. The most loyal customers were those buying Chevy vehicles, with GMC purchasers as a close second. The “other” brands are all the discontinued ones such as Hummer, Pontiac, Oldsmobile, Saab and Saturn. These makes are still counted because owners continue trading in their old vehicles for a new GM.
According to Experian, loyalty “can be applied when the purchaser acquires a direct vehicle replacement or when matched to the entire household (garage) level.” Automaker track loyalty to determine the success of the designs, advertising, and product appeal to customers.
GM was also the loyalty leader among North American auto sales back in 2021, showing the company engenders strong brand fidelity among consumers over time.