Although the selection of hybrid models on the market has doubled in the last five years, only 35% of hybrid owners bought another hybrid when they returned to market in 2011, according to Polk, a Michigan-based automotive data and marketing company.
If repurchase behaviour among Toyota Prius owners isn’t factored in, hybrid loyalty drops to 25%. Polk says that hybrid owners are staying loyal to their brands, just not to their drivetrains; for example, 60% of Toyota hybrid owners bought another Toyota, while only 41% bought another hybrid from any brand. More than 50% of Honda hybrid owners stayed with Honda, but less than 20% bought another hybrid from any brand.
“Having a hybrid in the product lineup can certainly give a brand a competitive edge when it comes to attracting new customers,” said Brad Smith, director of Polk’s loyalty management practice. “The repurchase rates of hybrid vehicles are an indication that consumers are continuing to seek alternative solutions to high fuel prices.”
Online cross-shopping data from Edmunds.com says consumers are comparing hybrids with similar gas-powered vehicles; for example, the Honda Civic is the second-most cross-shopped vehicle among both Toyota Prius and Honda Insight shoppers.
Polk says consumers in traditionally eco-friendly markets such as L.A. and Seattle are no more likely than anyone else to stay with a hybrid.
Hybrid vehicles represent 2.4% of the new vehicle market in the U.S. according to Polk, down from a 2.9% high in 2008.
If repurchase behaviour among Toyota Prius owners isn’t factored in, hybrid loyalty drops to 25%. Polk says that hybrid owners are staying loyal to their brands, just not to their drivetrains; for example, 60% of Toyota hybrid owners bought another Toyota, while only 41% bought another hybrid from any brand. More than 50% of Honda hybrid owners stayed with Honda, but less than 20% bought another hybrid from any brand.
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| 2012 Honda Civic Hybrid (Photo: Honda Canada) |
“Having a hybrid in the product lineup can certainly give a brand a competitive edge when it comes to attracting new customers,” said Brad Smith, director of Polk’s loyalty management practice. “The repurchase rates of hybrid vehicles are an indication that consumers are continuing to seek alternative solutions to high fuel prices.”
Online cross-shopping data from Edmunds.com says consumers are comparing hybrids with similar gas-powered vehicles; for example, the Honda Civic is the second-most cross-shopped vehicle among both Toyota Prius and Honda Insight shoppers.
Polk says consumers in traditionally eco-friendly markets such as L.A. and Seattle are no more likely than anyone else to stay with a hybrid.
Hybrid vehicles represent 2.4% of the new vehicle market in the U.S. according to Polk, down from a 2.9% high in 2008.