Posted Thursday, October 27, 2022
Even if the car completely suits the owner in terms of its characteristics, its age and wear sooner or later take their toll, and the time comes to exchange the iron horse for a new one. Why do some car owners remain loyal to a particular brand or vehicle, while others, after several years of use, forever forget about the brand or model, shifting their gaze to others?
Experts from the Indy Auto Man used car dealership note that most buyers are ready to buy a vehicle of the same brand. A third of them would choose a larger model from the same manufacturer. And only every fifth of buyers would prefer a car of another brand – to get a new experience.
Consumer loyalty, above all, is determined by previous experience with the brand. The successful ownership includes all minor details from feelings behind the wheel to the frequency and simplicity of repairs. If owners had no problems operating the car, they would likely prefer to purchase the same brand in the future.
In addition, whether a customer remains committed to a brand largely depends on the manufacturer’s ability to meet growing consumer demands. At the same time, its appearance and technical characteristics are the main criteria for choosing a vehicle.
All factors are important, including:
And each of them contributes to the dynamics of sales.
Statistics show that each auto brand has its loyal audience of consumers. In other words, the owners of a particular brand will choose a more modern or more status model but within the same brand when changing cars. Such conservatism, as a rule, is due to the fact that the buyer already knows the vehicle and has the experience of interacting with the brand. Such owners are well-versed in branded car services and the cost of spare parts.
So, what car brands are consumers willing to buy again, and in what cases do they want to see another nameplate on the grille of a new vehicle?
Owners of BMW, Kia, and Toyota keep loyal to the brand more often than other motorists. At the same time, if the owners of Bavarians consider cars of other brands, then usually it is Mercedes-Benz or Audi. The owners of Kia rarely look at premium brands as an alternative, but more often at Hyundai and noticeably less often at Toyota and Volkswagen models.
In the used car market, every second owner of a BMW or Mercedes-Benz is looking for another option of the same brand. Every fourth owner of a used BMW or Mercedes-Benz is ready to switch to a model of a competitor brand, and they are also considering the Audi, Toyota, and Volkswagen brands.
At the same time, Mercedes-Benz is perhaps the most desirable manufacturer in the secondary market. A model with a three-pointed star on the hood is also sought after by owners of luxury Bentley, Lamborghini, Rolls-Royce, and other premium brands.
The popularity of premium cars in the secondary market is not surprising. As a rule, such cars have lower mileage, higher reliability, increased comfort, and additional features. And since premium brands depreciate quickly enough, it is often possible to buy a high-quality used Bavarian at the cost of a new Korean car, which makes such offers as attractive as possible.
Surprisingly enough, Volkswagen owners rarely look for a car of the same brand. Most Lexus owners prefer to switch to premium German models or Toyota.
The owners of Mitsubishi, Nissan, and Porsche cars show a low loyalty level. Those who sell Porsche most often consider BMW, a little less popular options for such customers are Mercedes-Benz and Audi. Former Mitsubishi and Nissan drivers usually look at popular Koreans.
In general, over the last two years, there has been a tendency to change an expensive car for a cheaper one. And this is not surprising, given the constant rise in prices in the automotive market. Consequently, only a few will be able to buy and maintain a car like Porsche. And those who plan to change their vehicle will choose a more affordable option, no less comfortable but with a less loud name.
And there is no better place to compare your favorite model with the competitors and alternatives than a multi-brand used car dealership. Check the availability right now!