S&P Global Mobility is unveiling the winners of its 29th annual Automotive Loyalty Awards. They recognize outstanding performance in customer loyalty across various segments of the automotive industry. The 2024 awards recognized General Motors as the 'Overall Loyalty to Manufacturer' award winner, while Tesla was awarded the 'Overall Loyalty to Make' award. Both are repeat winners. The 'Overall Loyalty to Model' title went to the Lincoln Corsair.
Overall, researchers say based on consumer buying activity from January-December 2024, overall industry loyalty rates saw a slight year-over-year improvement for the third year in a row. Here's a look at the data:
"While brand loyalty is still below pre-pandemic levels, we are starting to see a consistent trend of customers going back to the brands they are familiar with," said Joe LaFeir, President, Automotive Insights, S&P Global Mobility. "This will be important as we navigate a period of uncertainty in our industry assessing tariff and trade impacts on vehicle demand, making retention an even greater indicator of brand health."
The S&P Global Mobility Loyalty Awards are based on an analysis of over 13.1 million new retail vehicle registrations in the U.S. during the 2024 calendar year. Loyalty is determined when a household that owns a new vehicle returns to the market to acquire another vehicle of the same make, model, or manufacturer.
It's GM's 10th straight win in the 'Overall Loyalty to Manufacturer' category and 21st win out of the last 29 years. Tesla's awards for 'Overall Loyalty to Make,' 'Ethnic Market Loyalty to Make' and 'Highest Conquest Percentage' mark the third year in a row the brand has won in these categories.
Newcomers Lincoln Corsair and Land Rover took home awards for 'Overall Loyalty to Model' and 'Most Improved Make Loyalty,' respectively.
Subaru regained the 'Overall Loyalty to Dealer' award after previously winning it in 2022.
"This year's winners have really emphasized the different levels of effort that is being put into loyalty across the industry," said Vince Palomarez, associate director loyalty analysis at S&P Global Mobility. "From the consistent performance of strong retention by General Motors and Tesla, to recognizing the efforts put into loyalty improvement from a brand like Land Rover, or even from a model perspective for our segment award winners, the industry is more cognizant of the importance of customer retention than ever before."
The complete list of 2024 award winners are:
Note: *Asterisk denotes a repeat winner from the 2023 awards.