For the second year in a row, Toyota tops the auto industry in retaining the highest percentage of new-vehicle purchasers, J.D. Power and Associates said in its 2007 Customer Retention Study released Thursday.
The study measures the percentage of new-vehicle buyers and lessees who replace a previously purchased new vehicle with another from the same nameplate.
Toyota improved by nearly 1 percentage point over last year to 64.6%. Lexus came in second with 63.0% and then Honda with 62.8 percent. All three brands retained the same rank they had in the 2006 study.
“Toyota’s high customer retention rate is particularly notable, considering that new-vehicle sales have declined in the past year,” Neal Oddes, director of product research and analysis at J.D. Power and Associates, said in a release. “Toyota maintains its high retention rates by providing high-quality vehicles and service to its existing customers, which in turn generates favorable word-of-mouth recommendations that attract new customers.”
Leave a comment