Filed under: Car Buying , Toyota After dealing with flailing global economies, numerous recalls and safety allegations and then the depleted inventory from the devastating earthquake and tsunami in Japan, Experian Automotive says that Toyota is finally back on top when it comes to consumer loyalty in the US. Toyota edged out General Motors and Ford Motor Company to grab this loyalty crown for the first time since the third quarter of 2009. The metric for this title was determined by owners of a vehicle choosing from the same corporate automaker for their next vehicle purchase. For Toyota, this means that 47.3 percent of its current customers will purchase a Scion , Lexus or Toyota model as their next car compared to 46.2 percent for GM and 46 percent for Ford. Honda and Hyundai rounded out the top five in this list. In terms of individual brand loyalty – when buyers come back to the same brand – Ford took the spot in this category with 44.7 percent of buyers returning to the Ford showroom for their next purchase, including six cars in the top 10 for overall loyalty. Ford Fusion customers are the most loyal with 59.9 percent buying another Ford, but Flex , Edge , Five Hundred, Escape and Fiesta are all in the top 10. Oddly enough, the top vehicle among brand loyalty was the Chevrolet Sonic (which has only been on the market for less than a year – we’re not sure what to make of that…) with 60.3 percent of its buyers trading in for another Chevy product. Other interesting facts to note from Experian Automotive’s study include the median age of vehicles has increased from 9.8 years up to 10.8 years since 2008, indicating that people are keeping their cars for an extra year before trading them in. Besides Toyota, Chrysler was the only automaker listed as having increased its market share and vehicle purchases in the second quarter of this year.
Filed under: Etc. , Government/Legal , Ford , Honda , Toyota , Earnings/Financials While the headline might seem shocking, given the circumstances of the 2009 global economic meltdown, it only makes sense. Ford’s dealings with two of its biggest competitors were centered around mutual self-preservation in the form of trying to keep a beleaguered supplier base afloat, according to The Detroit News . According to the report, Ford , Toyota and Honda cooperated to buy from common suppliers in a bid to keep those parts-makers from going under, which would have threatened the automakers’ viability. That revelation comes courtesy of a new book, American Icon: Alan Mulally and the Fight to Save Ford Motor Company by Bryce G. Hoffman. The auto industry is far more complex than many people realize, especially in this modern era, with ever-more demanding regulations and brutal competition from all corners of the globe. Tier One suppliers, as the biggest parts companies are known, have assumed much of the engineering and product testing and development work for new vehicles, even including big chunks of assembly. When times get tough, as they most certainly did in late 2008, suppliers are often the canary in the coal mine . At least 27 automotive suppliers filed for Chapter 11 in 2009, meaning that Ford had good reason for taking such precautions, referred to as “Project Quark” internally, according to the report.