Last year proved to be relatively stable on the auto brand retention front with a flat 44% national average, though some brands fared better than others.
The results are broken down in Reynolds and Reynolds’ annual retention and defection report, which ranks brands on how well they retain customers for their next purchases.
Toyota outdid all competitors when it came to keeping consumers in its fold, with about a 63% retention rate. The Japanese automaker has led the ranking every year of the six years Reynolds has conducted the study.
It’s followed in the top three for retention by Ferrari at 61% and Toyota’s luxury line, Lexus, at 54%. Fiat ranks last at 4% retention.
Though 20 of the 42 brands Reynolds studied lost ground on retaining customers last year, just four of those fell more than three percentage points, according to the company.
Ten, meanwhile, notched retention above the national average, though just five brands had 50%-plus retention, down from six the previous two years.
Reynolds computes retention and conquest data for U.S. new- and used-vehicle buys and leases in the calendar year when both the acquired and trade-in vehicles were of the brands it studied.
The report also breaks down retention and conquest rates by region. Reynolds said the information can help auto dealers compete by helping them stock and take trade-ins more strategically, among other adjustments.
To review the report, including full brand retention rankings, visit Reynolds’ website.
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