A recent Polk study shows that the repurchase rate among other hybrid buyers dropped to 22%.
The study also shows that the loyalty rate for hybrids since the beginning of 2008 has ranged between 26.4% in the second quarter of 2010 and 41.8% in the second quarter of 2009. The rate for last year’s fourth quarter was 40.1% and the total for 2011 was 35.0%.
It seems that hybrids bring new buyers to brands and help them keep these customers.
“It’s a great conquesting tool for brands,” declared Brad Smith, director of Polk’s loyalty management practice, calling hybrid technology “a competitive edge when it comes to attracting new customers.”
The best example for this is Toyota, with its hybrid Prius line. Last year 60% of Prius owners back in the market bought a Toyota brand vehicle and 4% of the Prius owners back in the market either bought another Prius or a hybrid from another automaker.
In 2011 hybrids sales accounted for 2.4% of total U.S. auto sales, down from 2.9% in 2008, due to the fact that less expensive conventional fuel-efficiency technologies are also advancing rapidly, reducing the fuel-efficiency advantage of more expensive hybrids.