Among the many challenges brought about by the pandemic was the erosion of customer loyalty, prompting new vehicle buyers to explore various options. However, as supply chains have returned to something resembling normal, consumer behaviors, including loyalty, have also begun to stabilize.
In 2022, brand loyalty stood at 50.2 percent. However, according to a new study, it increased by 0.8 percentage points in 2023, reaching 51 percent. While this may not seem like a significant jump, it marks the first increase in loyalty levels since 2019. The uptick coincides with growing inventory levels at dealerships, making vehicle shopping easier, among other factors.
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