Chalk up another award for the Chevrolet Corvette, which has just been named winner of the “Luxury Sports Car” category in the 25th annual Automotive Loyalty Awards.
The Corvette helped General Motors to earn its sixth consecutive victory, and 17th in the last 25 years, in the “Overall Loyalty to Manufacturer” category of the IHS Markit competition.
Overall, GM retained 69 percent of its customers, led by 93 percent of returning owners of its utility and pickup lineup purchasing another such GM vehicle in 2020.
“Our 25 years of experience in analyzing automotive loyalty shows it is an important influencer of market share as the opportunity for sales growth continues to contract,” said Joe LaFeir, senior vice president and Automotive business line leader, IHS Markit. “In such a competitive environment, OEMs have been diligent in their strategic marketing efforts, and it’s clear these initiatives have been a core focus for this year’s winners.”
According to IHS Market:
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.
GM’s only other Segment Model Loyalty award winner was the Chevy Bolt in the “Small Car” category.
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