More Proof That Owners Love Their Ram 1500s
For more than two decades, IHS Markit has been studying buyer loyalty in the automotive business. Every year, it releases its findings and it appears the 2021 Ram 1500 is one of the big winners. IHS Markit says that the Ram 1500 wins an Automotive Loyalty Award for the fifth year in a row.
Loyalty in the Growing Truck Market
IHS Markit says the Ram 1500 has the highest model loyalty in the Light-Duty Pickup segment. That is an incredible achievement when you see the huge number of light duty trucks that are sold every year. Sales figures show that in 2018, sales of light trucks accounted for about 72 percent of the approximately 17 million light vehicles sold in the United States. That works out to more than 12 million trucks.
According the IHS Markit, “Loyalty is determined when a household that owns a new vehicle returns to market and purchases or leases another new vehicle of the same make, model or manufacturer. This year’s awards are based on an analysis of 12.4 million new retail vehicle registrations in the U.S. during the 2020 calendar year. The newly acquired vehicle may be either a replacement or an addition to the household fleet.”
That means Ram owners eventually go buy another Ram 1500. That is the best sign of how impressed vehicle owners are, especially when you consider they have won it five years in a row. Keeping your customers happy enough to buy another in a fickle industry is the definition of success.
Other Stellantis Loyalty Winners
Two other Stellantis vehicles also received IHS Markit honors. The Chrysler Pacifica takes home the Loyalty Award in the Van segment. This is the second year that the popular van has driven off with that award. Alfa Romeo, a brand that is relatively new to the U.S. market, received recognition as the Most Improved Loyalty to Make.
“Congratulations to Stellantis on their efforts and strong performance in customer retention across Alfa Romeo, Ram 1500 and Chrysler Pacifica,” said Kristen Balasia, vice president, Automotive Advisory, IHS Markit. “We honor their focus and commitment to loyalty as an important strategy in this increasingly competitive environment.”
Why the Loyalty Awards Matter
Automakers use the information collected by IHS Markit to learn more about how to make customers happy and find out how to win buyers over from other brands. In a tough business and competitive business, automakers continually do research on what convinces consumers to buy or lease certain vehicles. Learning what motivates buyers is one of the key questions in the automotive industry.
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