STUDY: Chevrolet Corvette Has Highest Model Loyalty in the Luxury Sports Car Segment

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STUDY: Chevrolet Corvette Has Highest Model Loyalty in Luxury Sports Car Segment

Photo Credit: Chevrolet


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.


Source:
IHS Markit

Related:
STUDY: The Chevrolet Corvette was the Fastest-Selling New Car in February
STUDY: Chevrolet’s Corvette was the Fastest-Selling Car in January
STUDY: Corvette Ranks as One of the Sports Cars People Keep the Longest

 



5 COMMENTS

  1. Now if only GM could be loyal to their customers and build the dam car stop with vivid and chip excuses. In 79 and 84 they were able to build 50,000 cars now every excuse in the book to eek out 22000. The ship will have sailed on a lot of the novelty buyers. To bad for the real buyers who won’t pay the enhancement cost.

  2. Loyalty is one thing, but customers should get something for there patience
    I’ve been waiting since Aug 2019 for the C8 and delivery date here in the UK
    Still waiting!

  3. GM isn’t what it use to be! As mentioned above by Bill, they rarely had issues delivering 40,000 or 50,000 cars in the past. Now they can barely crack the 20,000 mark? Some customers have been waiting since 2019 like Ian has and that’s unacceptable! GM should be ashamed of themselves for this whole delay after delay fiasco.

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