IHS Markit recently announced the results of its 25th annual Automotive Loyalty awards program, recognizing the Alfa Romeo brand, Chrysler Pacifica and Ram 1500 for their leadership in customer retention.
Alfa Romeo is the most improved brand and is recognized with the Most Improved Loyalty to Make award. An aggressive lease strategy and increased interest in the Stelvio helped the brand increase its make loyalty, rising nine percentage points from 2019.
Chrysler Pacifica, the first minivan to offer both gas and hybrid powertrains, takes home the Loyalty award in the Van segment for the second year in a row.
The Ram 1500 is recognized for having the highest model loyalty in the Light-Duty Pickup segment. This is the fifth consecutive year the Ram 1500, the no-compromise benchmark for durability, technology, efficiency, performance and convenience, wins an Automotive Loyalty award.
Loyalty is determined when a household that owns a new vehicle returns to market and purchases or leases another new vehicle of the same make, model or manufacturer. This year’s awards are based on an analysis of 12.4 million new retail vehicle registrations in the U.S. during the 2020 calendar year. The newly acquired vehicle may be either a replacement or an addition to the household fleet.
IHS Markit has been tracking automotive loyalty for 25 years and is relied upon by major automakers and their marketing partners to effectively manage owner loyalty and conquest efforts through in-depth research and analysis of automotive shopping behaviors, related market influencers, and conquest and retention strategies.