How do automakers ensure customers remain brand loyal and new customers choose their brand over others? Vehicle owner brand loyalty and retention have always been a key challenge for automakers.

LexisNexis® Risk Solutions found that an automaker’s competitive edge starts with what vehicles are in the garage.

Data from a recent study of 1,000 vehicle owners by LexisNexis Risk Solutions indicated that multiple vehicles in a garage can directly impact future purchases. The research also explores the timing of the next vehicle purchase and whether powertrains affect vehicle buying decisions.

What are the threats to consumer vehicle brand loyalty?

Key survey insights:

• In survey participants’ garages, 65% had multiple vehicles, and 42% had numerous automotive brands.
• Approximately one in four (23%) consumers in a multi-vehicle, multi-brand household defect to a brand they have in the garage. Consumers are exposed to another brand every day, positioning that brand higher on the awareness and consideration scale.
• A vehicle’s fuel type is an increasingly important factor in automaker brand defection. The study showed an 8% increase in consumers purchasing electric vehicles (EVs) and a 6% increase in those opting for hybrid vehicles. Among consumers who switch from internal combustion engines (ICE) to alternative vehicles (hybrid or EV), 64% defect to another brand.

Complete the form to access the full research report and get deeper insights into consumer vehicle brand loyalty and retention, what automakers can do to retain customers, and how strategically timed outreach can significantly enhance customer loyalty.