Why Brand Loyalty Takes a Backseat for American Car Buyers

By ZeroHedge - Aug 28, 2024

• Nearly half of Americans are likely to change their car make on their next purchase, despite expressing high satisfaction with their current brand.
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• This trend suggests that Americans are more interested in trying new car types than remaining loyal to a specific carmaker.
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• Brand loyalty is stronger for banks, smartphones, and internet providers, with fewer consumers indicating a likelihood to switch.

In a recent survey by Statista Consumer Insights, almost half of Americans said that they were likely or very likely to change their car make on the next possible occasion. Consumers appeared more loyal to their primary bank, smartphone brand, mobile carrier, home and car insurance as well as internet provider, with only around 30 percent saying they were likely to make a switch when it was next possible. At 27 percent, the internet provider was the least likely to be changed.

You will find more infographics at Statista

As part of the same survey, 86 percent said they were actually satisfied or very satisfied with their car make, showing that switching up carmakers has less to do with dissatisfaction and more with trying new types of cars. 80 percent also said they were satisfied with their internet provider. Almost half of respondents said they wanted to purchase a new or used car in the 12 months after the survey. The most commonly owned brands in the United States were Chevrolet and Ford, followed by Toyota, BMW and Honda, according to the survey. 

By Zerohedge.com