Long ignored by most American auto buyers, and slighted by others due to quality problems, Hyundai is now tops when it comes to corporate loyalty, according to a new study.
But Ford Motor Co. is also making gains in the marketplace, according to the report by Experian Automotive, a data service that tracks vehicle registration data as well as consumer attitudes. The Detroit maker captured the lead in six of the spots in the top 10 product segments.
Hyundai had a loyalty rate of 49.6%, according to the Experian study, edging out General Motors and Ford – as well as major Japanese makers like Toyota. It was the first time the Korean carmaker led the list, marking a significant turnaround for a brand that was once the butt of jokes, not a marque that won repeat business.
Hyundai’s loyalty – translated as the repurchase rate of its owners – has also helped drive the brand’s market share to record levels, 9.2% during the second quarter of this year, up from 7.9% a year earlier. The maker’s performance in the study also reflected well on its sibling brand, Kia actually outscoring the Hyundai brand with a 47.9% loyalty rate.