Is brand loyalty still prevalent in the automotive industry? – Times Square Chronicles
Brand loyalty is something that can be found in all industries, but especially in the automotive industry where people feel the car you drive speaks volumes about you as a person. On top of that, people often rely on their vehicle every day, which means they will be drawn to the ones they have already had that have worked well.
Loyalty to the transmitted brand
Brand loyalty in the automotive industry is also something that can be passed down from generation to generation. If your parents drove a Peugeot throughout your childhood, for example, there is a good chance that you naturally lean towards this brand as it might remind you of your childhood, you might feel a stronger connection with your parents and you will have an idea of what to expect from the vehicle.
The times are changing
Interestingly, studies show that brand loyalty is starting to wane in the auto industry with younger motorists, which can be attributed to several different reasons. One of the main reasons is that people buy cars less frequently and keep control of their existing vehicle, so there is less opportunity to buy again. This could be because people don’t have as much disposable income and vehicles today are built to last, so people are likely to drive the same car for more than 10 years. On top of that, people these days also spend a lot of time researching cars before making a decision and will also shop around for the right option for them.
Changes in the automotive industry
Plus, another reason brand loyalty is fading in the auto industry is that it is constantly changing. New design trends, technological developments, and consumer trends force manufacturers to constantly change, so brand loyalty becomes redundant because you don’t know what to expect. However, some brands retain certain values like Peugeot being renowned for its value and reliability and you can find Peugeot dealers near you by searching online for those who are loyal to that brand.
Brand loyalty has always been prevalent in the auto industry and something that many feel passionate about, but it is evident that this is fading among the younger generations. This is because people tend to buy cars less often, people will spend a lot more time researching and learning about different makes and models and the auto industry has been going through a state of constant change in recent times.