New Study Examines Why Luxury Car Buyers Stay Loyal to their Brands

Brand loyalty is a priority for any car manufacturer. It ensures that they have a healthy core of buyers who will remain loyal when the time comes to change their car for a new one. Luring customers away from a rival, or “conquest” sales, as it is commonly known in the industry, is also one of their key objectives.

Therefore, when a report like the 2012 New Luxury Vehicle Loyalty Study comes out, you can bet automakers pay attention. Conducted by Polkand AutoTrader, the study examines the reasons why luxury car buyers stay loyal or “defect” to another brand.

“Understanding behaviors and attitudes is critical in helping automotive marketers to more effectively reach and influence luxury shoppers during their decision making process”, said vice president of automotive insights at AutoTrader, Rick Wainschel.

The survey took place from September to November 2011 among 1,485 U.S. buyers focusing on six luxury manufacturers: Acura, Audi, BMW, Cadillac, Lexus and Mercedes-Benz.

The results showed that the top five reasons a premium car buyer purchases a model from the same brand are:

1. Brand Affinity (cited by 44 percent)
2. Qulity/Realibity (33 percent)
3. Driving Performance (24 percent)
4. Price/Finance/Value (16 percent)
5. Styling/Design (16 percent)

Not all buyers have the same criteria or level of dedication to one particular brand, though. According to the survey, brand affinity (how much one likes or feels close to a brand) ranks significantly higher among Cadillac loyalists than any other luxury maker.

BMW owners, on the other hand, are the ones who mostly name driving performance as the main reason for continuing to purchase its products. Most Mercedes-Benz and Acura loyalists say they are attracted by their cars’ quality and reliability, while Audi can count on its styling and design to keep the majority of its buyers at bay.

Technology and innovation ranked among the top five reasons only with Acura buyers, whileLexus and Mercedes-Benz customers said dealership loyalty matters.

The flip side to the coin is the top five reasons why luxury car buyers decide to switch to another brand:

1. Price/Finance/Value (quoted by 24 percent)
2. Size/Body Style (20 percent)
3. Brand Affinity (17 percent)
4. Time to Change (14 percent)
5. Driving Performance and Styling/Design (13 percent each)

"This study illuminated important differences for staying loyal or defecting from luxury brands and how those key drivers of loyalty and defection are different for each luxury brand," Mark Pauzé, senior solutions consultant with Polk, commented about the results.

“The insights gained from this study will be very useful for luxury brands as they strategize on how best to retain more of their customers and key drivers that could attract new buyers or keep current owners from defecting," he added.

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