Some automotive consumers buy the same make and model year after year. Others switch it up.
CarMax tapped into sales data from its 224 stores nationwide (most of them used-car dealerships) to analyze buying behavior among people who sold their cars to the dealership chain and purchased another one from the retailer at the same time.
Based on such swaps, the study ranks loyalty levels.
The brands with the most steadfastness from repeat buyers are Lexus (28%), Mercedes-Benz (27%) and Cadillac (27%). All three are luxury brands, a potential factor in the customer allegiance they enjoy.
(See chart below for the full ranking and click here for the full study.)
The makes with the least number of people sticking with them are Mitsubishi (4%), Fiat (8%), Volkswagen (9%), Chrysler (9%) and Mazda (9%).
The model with the most steadfast customers (25%) is the Lexus RX 350 CUV. One in four consumers trade one RX 350 for another.
Some models outpace their brands in the rankings. For instance, Ford comes in No.5 for overall brand loyalty (24%) but the Ford F-150 pickup truck is No.2 (21%) in the study’s measure of model fidelity.
People who sold a Mitsubishi to CarMax were the least likely to stay with the brand, which has struggled with U.S. sales for a while now. The automaker, trying once again with a new Outlander, has pared its lineup in America to three models and three variants.
Mitsubishi owners who swapped out most likely bought a Nissan, Ford or Chevrolet as their next vehicle.
Among study standouts: Toyota owners on average bought models that were 7.8 years newer than what they were trading in. Conversely, Mercedes-Benz owners on average purchased a model that was only 4.9 years newer than their former car, an indicator of Mercedes owners’ buying-cycle wherewithal.
Further proof of utility vehicles’ popularity in America: SUV owners were least likely (32.8%) to switch to another model.
It’s a much different story with sports car owners. They were most likely (84.6%) to switch to a different vehicle segment. Apparently, everyone loves sports cars, but few people remain attached to them in the long run.
CarMax notes some consumers look for either a larger or smaller vehicle to accommodate changing needs. Married with children is a different automotive demographic from empty nesters who no longer haul around the kids.
For its study, CarMax drew from 2020 used-sales data. The company says that to avoid outliers skewing the data, it condensed its sales analysis to the top 10 brands.
Steve Finlay is a retired WardsAuto senior editor. He can be reached at [email protected].
