Brand loyalty is finicky as minor changes can have major repercussions. A modern example would be Bud Light, but today we’re focusing on a new study from CarMax, which examined purchases with trade-ins made last year.
Overall, the study found that 19% of customers bought the same brand as their trade-in. This isn’t too surprising as the company noted it’s basically the same result as their first study on brand loyalty in 2017.
However, a lot has changed in the past few years and the loyalty rankings are notably different. Toyota moved from 5th to 1st place as a whopping 28.5% of CarMax customers with a Toyota trade-in bought another Toyota.
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