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Perceptions of Auto Brands, Trust, Loyalty - US - July 2015

Perceptions of Auto Brands, Trust, Loyalty - US - July 2015

A series of major recalls has rocked the automotive industry throughout this decade, and no company or brand has been spared. Consumer perceptions of the industry have been affected by the recalls, but there are ways brands can adapt to changing consumer perceptions and loyalties.

This report looks at at the following areas:

Recalls are changing perceptions of automotive brands, but to what extent?
Consumer loyalty has its limits


OVERVIEW
What you need to know
Definition
EXECUTIVE SUMMARY
The issues
Figure 1: Impact of recalls on industry perception, March 2015
Figure 2: Brand loyalty, March 2015
The opportunities
Figure 3: Attitude toward trusting car brands, March 2015
Figure 4: Factors of brand loyalty, March 2015
What it means
THE MARKET
What you need to know
Social media and the internet can help perceptions spread
Recalls will impact perceptions, at least somewhat
Market factors
Social media growth influences consumers
Recalls could change perceptions
KEY PLAYERS
What you need to know
Recalls prompt look at consumer perceptions
GM recalls show what can go wrong
Brands that handle recalls well can build loyalty or keep loyal customers in the fold
What’s working?
Transparency and response are key when dealing with recalls
What’s struggling?
General Motors’ shows what to avoid when a recall hits
What’s next?
Automakers will need to address recalls head on
THE CONSUMER
What you need to know
Consumers’ brand perceptions changed by recalls
Brand loyalty strong among consumers
Consumers listen to their peers despite our modern media ways
Recalls do impact perceptions
Gen X, Millennials have different perspectives
Parents Influenced more heavily by the recalls
Figure 5: Factors of brand loyalty, March 2015
Recent news has increased consumer awareness of recalls
Figure 6: Recalls’ impact on brand perception, March 2015
Brand loyalty is strong
Nearly one-half of respondents show loyalty to a certain brand
Figure 7: Brand loyalty, March 2015
Performance, experience, reputation, price drive loyalty
Performance is a strong driver for brand loyalty
Previous ownership experience is also a huge factor when it comes to loyalty
Reputation also drives loyalty
Safety and fuel economy also influence loyalty
Figure 8: Attributes associated with brands, March 2015
Enthusiasm doesn’t impact loyalty much
Figure 9: Factors impacting brand loyalty, March 2015
Factors influencing consumer trust
Consumers are influenced by other consumers
Figure 10: Trust in Brands, March 2015
Outside influences have an impact
Reviews, and news stories have positive impact, but most factors don’t resonate
Figure 11: Factors that Impact Brand Perception, March 2015
APPENDIX
Data sources and abbreviations
Data sources
Abbreviations and terms
Correspondence analysis methodology
Methodology
RESEARCH METHODOLOGY
US Research Methodology
Consumer research
Social Media Research
Trade research
Statistical Forecasting

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