Automotive manufacturers and brands were recognized in a ceremony Tuesday evening for superior customer retention and conquest efforts during the 2017 model year. IHS Markit analysis found that with approximately 17.5 million new vehicle registrations during the 2017 model year, 53.6% of customers returned to market to purchase or lease another new vehicle from the same make they already owned. This represents record loyalty rate and an increase of 0.8% points from last year.
Now in its 22nd year, the IHS Markit Loyalty Awards honor winners in more than 30 categories. Most importantly, Toyota was honored for highest Ethnic Loyalty to Make among all ethnic groups combined, as it led in loyalty among all three ethnic groups — African American, Hispanic and Asian.