There was a time when car buyers tried to “graduate” from their low-priced Hyundais and Kias as soon as they could afford to make the move. But that is no longer the case. According to a just-released study from Experian Automotive, South Korea’s Hyundai Motor Group -- the parent company of both Kia and Hyundai -- topped the industry in corporate loyalty for the first time.
The Korean automaker’s corporate loyalty rate of 49.6 percent edged out General Motors (48.1 percent) and Ford Motor Co. (47.6 percent) for the top spot. Even more important, Kia had the highest brand-loyalty ranking (47.9 percent) of any brand in the industry. The Hyundai brand finished with the fourth highest brand loyalty (40.5 percent).
“In North America, both Kia and Hyundai have made improvements in vehicle styling and quality among both brands,” says Jeffrey Anderson, director of consulting and analytics for Experian Automotive. “This has clearly helped them gain and maintain a strong and loyal customer base.”
The latest market analysis also showed that Kia had three vehicle models among the industry’s top 10 for model-brand loyalty, including the Kia Forte (which was the top model for loyalty at 68 percent), the Kia Soul (fifth at 59 percent) and the Kia Forte Koup (eighth at 57 percent). Other top performers in model loyalty included the Chevrolet Cruze (second at 64 percent) and six Ford models, including the Ford Fiesta (third at 63 percent) and the Ford Fusion (fourth at 61 percent).
When it comes to overall sales success, customer loyalty is a very good thing. The latest Experian data showed that Hyundai continues to pick up market share, with the greatest percentage increase among all brands year-to-date, jumping from 7.9 percent in the second quarter of last year to 9.2 percent in the second quarter this year.
