People are happier with their cars this year, according to the latest American Customer Satisfaction Index (ACSI) Automobile Study.
Following a decline last year, researchers say customer satisfaction with their vehicles is up 3 percent in the 2022-2023 study. Luxury vehicles continue to outpace their mass-market counterparts, but the gap is shrinking, as the latter increases 3% to a score of 79, while the former climbs just 1% to a score of 81.
“Satisfaction with the auto industry as a whole has fully rebounded to pre-pandemic levels, and consumer demand is strong despite rising interest rates,” says Forrest Morgeson, Associate Professor of Marketing at Michigan State University and Director of Research Emeritus at the ACSI. “The supply chain kinks that slowed production during the pandemic are starting to wane, and more cars are back in stock. Nearly every aspect of the driver experience — including driving performance, safety, dependability, gas mileage, and warranties — is better. And, despite higher prices, value perceptions have improved as well. These factors bode well for automakers — and their sales figures — in the second half of 2023.”
Toyota #1 Brand Overall
Toyota is No.1 when it comes to mass-market vehicles — and the industry overall — after surging 5% this year to an ACSI score of 84.
Researchers say the automaker’s production system appears to have made it more resilient even with the pandemic-driven supply chain disruptions. Also factoring into its successful year: strong showings for gas mileage, dependability, and quality for the price factor.
Also of note: despite Toyota dealers' have consistently low inventory due to supply chain disruptions, researchers say that 35% of American car shoppers considered purchasing a Toyota product — which is more than any other car brand on the market.
Here's what the list of top five Mass Market brands looks like:
- Toyota (up 5%) with a score of 84
- Subaru (last year's co-leader) with a score of 82
- Honda (up 5%) with a score of 81
- Mazda (up 3%) with a score of 80
It's not all positive news. Nissan, VW, Jeep, Ram and Chrysler all declined. Chrysler ranks lowest, falling 1% to an ACSI score of 71.
- Nissan slips (down 1%)
- Volkswagen (down 3%)
- Jeep (down 3%)
- Ram (down 5%)
- Chrysler (down 1%) with a score of 71
Tesla and Lexus Tie For Luxury Lead
Lexus is sharing the top spot this year after sliding 1% to 83. This puts it in a tie with Tesla which increased 4% in customer satisfaction. Acura scored second last year but tumbles on the list this year declining 4%.
Here's a look at the luxury leaders:
- Lexus (Down 1%) / Tesla (Up 4%) with a score of 83
- Cadillac (Up 3%) with a score of 82
- Audi (Down 2%) with a score of 80 / BMW (Up 4%) with a score of 80/ Mercedes-Benz (Up 1%) with score of 80
- Acura (Down 4%) with a score of 80
Researchers say more and more younger buyers are choosing luxury vehicles, and they are much more satisfied than younger buyers purchasing or leasing mass-market cars. For survey respondents 26 to 41 years old, satisfaction is 5 points higher for luxury car owners (82) than for mass-market buyers (77) — the widest ACSI gap across age groups.
Researchers say technology is a driving factor for these younger buyers and luxury vehicle technology outperforms mass market technology by a score of 83 to 78.
Electric VS Gas
When it come to electrified powertrains, the study found the EV and Hybrid owners are more satisfied than people who own or lease gas-powered cars.
But, researchers say that while states across the country are offering rebates and tax incentives for electric vehicle (EV) adoption — and the federal government aspires to have 50% of new vehicle sales be electric by 2030 — EV adoption (and driver experience) still has a long way to go in the U.S.
The cite the lack of public chargers as drawback to EV adoption and the move by automakers to address the issue by building an expansive new charging network. But researchers say the ACSI data shows that charging infrastructure may not be the only issue for EV sales.
Researchers say that EVs rank last for dependability and customer expectations for reliability, while also having the highest complaint rate. The data is more positive for hybrid owners - and researcher say hybrid owners are happier with more aspects of the driver experience than EV owners, including quality, value, and dependability.
“EVs must improve before automakers can justify the price differential for a broader audience,” notes Morgeson. “Early EV adopters find these vehicles perform well relative to their expectations, yet ACSI data show they are only superior in technology and warranties. That is not enough to convince more consumers to leave gas in the past.”
The ACSI Automobile Study 2022-2023 is based on interviews with 8,941 customers, chosen at random and contacted via email between July 2022 and June 2023.
