Filed under: Car Buying
' latest survey results are another ding for Toyota
. While Honda
have made gains in brand loyalty, Toyota's brand loyalty among consumers has dipped 13 percent, causing it to fall from the top position it held at the end of 2009. Honda is in first place now, with 68 percent of Honda owners described as "likely to purchase another Honda for their next new car," followed by Ford with 61 percent loyalty and Toyota with 57 percent.
While Toyota's fall may be the result of negative perception in the marketplace as a result of the brand's recall fiasco, it still made $1.2 billion
in the first quarter of this year. North American sales were down but didn't bottom out thanks to higher incentive spending, sales rose elsewhere around the world, and the company is reaping the benefit of cost savings enacted last year. A drop from a close first to a close third after more than eight million cars have been recalled isn't so bad, and with $20 billion in cash, the company has the money, and apparently the time and mindset, to keep the ship moving.
The other two makes that CR
, both lost ground: Chevy dipped five percent in brand loyalty from February to April (from 57 to 52 percent), Dodge dropped four percent in the same period (from 28 to 24 percent).
[Source: Consumer Reports | Image: Mark Ralston/AFP/Getty]Continue reading CR: Toyota brand loyalty continues to fall, Honda and Ford rise
CR: Toyota brand loyalty continues to fall, Honda and Ford rise
originally appeared on Autoblog
on Mon, 17 May 2010 11:01:00 EST. Please see our terms for use of feeds
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