How strong is brand loyalty these days in the auto market?

I have been a huge fan of the James Bond series since high school. I always went to the cinema to see every new release as soon as it came out. When I was in high school, this was the time golden eye The BMW Z3 appeared, the 750 iL was in Tomorrow never diesZ8 appeared in The world is not enough. I thought they had to be the best cars in the world since James Bond was driving them. I was sure I would only drive BMWs. I think good marketing by BMW.

My love of BMW slowed down a bit about 10 years ago when I realized we needed to move quickly to electric mobility. BMW didn’t have any all-electric models that were widely available at the time. In 2015, the BMW i3 was launched in the South African market. I’m really excited. I had just finished my PhD in Pretoria and looking for a job. I immediately searched the BMW website for any job opportunities. You are ready to join any department. I saw a vacancy for a sales position. In my cover note, I specifically indicated that I would like to join their team to help sell the new i3. I don’t remember getting a response at all, but I’m sure I would have loved this post.

The BMW i3 has received mixed reviews from some quarters. Some felt it didn’t look like a “proper” BMW. i3 production just ended. However, BMW now has a very good selection of all-electric cars. I now realize that my love for BMW never went away, because if I were to choose the car I buy now, my first choice would be a BMW i4 M50! Of course, I will need to raise funds first. The price of the BMW i4 M50 starts at 1,600,000 rand ($97,000).

I had a chance to be in one a few months ago, and to my mind, it looks like a “proper” BMW, it’s much cleaner and better for the environment. A major factor that will also influence my decision is the fact that BMW’s new range of battery electric vehicles is now available in South Africa, which is great for aftermarket support.

Brand loyalty for a long time has influenced customer choice to a large extent whenever customers think of buying their next car. However, a new study by S&P Global Mobility has found that brand loyalty, which is defined as the percentage of buyers who return to the same brand for their next vehicle, actually falls across the luxury segment. The research runs from January 2020 to April 2022.

The study also showed that Tesla is one of the biggest winners. Between March 2021 and April 2022, 62% of buyers who were acquiring a new Model 3 had previously owned Teslas, showing strong brand loyalty to Tesla. Are you loyal to certain brands? Will this loyalty affect your decision to switch to electric? Let us know in the comments below.

Pictures of Remeredzai


 

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