One of the pressing challenges the automotive industry has been facing is brand loyalty. The dynamics in the industry have been shifting due to 3 factors: (1) the emergence of new brands, (2) the disappearance of some brands and (3) a sharp increase in Asian manufacturers. “As vehicle availability increased and more choices hit the market for consumers, loyalty among brands as a whole saw a decline this year,” observes Tyson Jominy, Vice President of Data and Analytics at J.D. Power, a US-based company specializing in data analytics, software and consumer intelligence.
Toyota and Brand Loyalty
November 1, 2023