J.D. Power and Associates has released its annual Customer Retention Study, and Hyundai ranks the highest among brands in retaining buyers. Hyundai's retention rate is up four percentage points to 64 percent in 2012, thanks largely to the Elantra and Sonata models. J.D. Power says that much of the manufacturer's retention rate can be traced to its growing vehicle offerings and positively changing perceptions about Hyundai quality and market appeal.
Customer Retention Study
Customer loyalty is incredibly important to automakers and something earned by providing both good products and service. J.D. Power has just put out its 2010 Customer Retention Study to show how well each automaker is doing at keeping existing car buyers coming back for more. Leading the way are Ford and Honda who tie each other with a 62 percent rate of customer retention. Hyundai, Lexus and Toyota are right on their heels however with a rate of 60 percent each.
That's customer retention, not retentive customers, though Mercedes-Benz could be said to enjoy both. J.D. Power and Associates has been indexing customer retention for seven years, and Mercedes-Benz tops the list in 2009. Power measures how many vehicle buyers are replacing an older model from the same brand, and Mercedes-Benz's 67-percent retention rate tops all others, including the usual suspects, Honda and Toyota.
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