Time for a Change?

Automakers love to boast about their vehicles’ longevity, building ads around bruised and beaten up models still running after several hundred thousand miles, their proud owners beaming in the background. Unfortunately, a recent analysis cautions that long-time car owners are actually among the least brand-loyal new-car shoppers. According to Experian Automotive in Schaumburg, Ill., the longer someone owns a car, the less likely he or she is to trade it in for a new model of the same make. Brand loyalty stands at an average 49.5 percent rate, Experian says, but it drops to 33.8 percent among those who have held onto their current rides for a dozen years. By comparison, those who owned or leased a vehicle for just 12 months become repeat customers an average 57.3 percent of the time. Ford sits atop of Experian’s list of brands with the most brand-loyal buyers at an average 61 percent. Other loyalty leaders include Subaru (59.4 percent), Toyota (58.9 percent), Kia (58.5 percent) and Lexus (55.8 percent).