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Customer LoginsSUV/CUV Loyalty Far Surpasses Industry-Wide Metrics
It's no secret that crossovers are a hot commodity in the U.S. car business these days. With their high driving position, car-like ride, and AWD potential, crossovers are attracting sedan, coupe and van owners. Approximately 40% of all new vehicles registered to individual retail buyers are crossovers, the highest market share of any body style in the industry (see blog xxxxxxx).
What is not as well known is that these sport utility/crossover buyers like their vehicles and buy another one. In fact, the loyalty of SUV/CUV owners to this body style is now higher than any other body style loyalty in the industry. Through the first eight months of this year, more than 60% of all SUV/CUV owners who returned to market acquired another one, up from 52% five years ago. In contrast, sedan owners' loyalty has dropped from 56% five years ago to 53% now.
This affinity of SUV/CUV owners for their vehicles is further illustrated by the fact that eight of the ten segments with the highest loyalty to their body style are SUV/CUV segments.
Luxury full-size SUV owners are the most loyal, as more than two thirds of these owners who come back to market acquire another SUV or CUV. Note that this loyalty to SUVs among luxury full size SUV owners is more than 17 points above the industry-wide loyalty to body style. In fact, more than six of every 10 luxury full-size SUV owners acquires another SUV or CUV, with the Range Rover and Range Rover Sport leading at 77.5% and 74.4%, respectively.
These robust loyalty figures for the SUV/CUV body style portend well for the future of this configuration in general, and specifically for those manufacturers who offer the broadest portfolio of these popular vehicles.
Tom Libby is manager, loyalty practice and industry analysis, IHS Automotive