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Wednesday, July 27, 2011

USA Today - KBB: Hyundai passes Honda, Toyota in brand loyalty

Hyundai ousted traditional top dogs Honda and Toyota for No. 1 in brand loyalty in the second quarter says a shopping analysis by Kelley Blue Book's KBB.com. It's the first time Hyundai has led for a full quarter since KBB began tracking brand loyalty.

That's like lapping the leaders for Hyundai, which first overtook them in February. Hyundai also is keeping momentum at a time when overall brand loyalty fell for the most brands in the past year, says KBB, which blames the economy, recalls, fuel prices and more alternatives. The analysis defines loyalty as shoppers researching the brand they own for their new car.

The top five in brand loyalty for Q2 2011:
  1. Hyundai, 52.3%
  2. Honda, 49.7%
  3. Toyota, 47.7%
  4. Ford, 45.4%
  5. Subaru, 44.8%
Also bucking the drop in brand loyalty: Hyundai corporate sibling Kia. It was one of just two other brands to show a rise in customer loyalty vs. the quarter a year ago. The other rising brand was Mini Cooper. KBB cited the same reasons for their loyalty success as it did for Hyundai.

KBB's analysis says Hyundai is keeping customers with aggressive marketing efforts and new products."Hyundai's product renaissance is benefiting the company not just by attracting an all-new customer base, but by helping them to retain "current Hyundai owners," said Arthur Henry, market intelligence manager for Kelley Blue Book. It's a "testament to the power of attractive vehicle designs and intriguing marketing."

KBB also found luxury brand loyalty rising again:

After declining the past few years, in part due to a better economy and more stable gas prices, KBB sees prior luxury owners shifting back to brands they bought when the economy was booming. Mercedes-Benz, Audi and BMW all saw loyalty rise Q1 to Q2, although all remain down from last year.

Read More: http://content.usatoday.com/communities/driveon/post/2011/07/kbb-hyundai-passes-honda-toyota-in-brand-loyalty-/1

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