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Toyota/Lexus are tops in brand and model loyalty in new CARMAX sales study
CarMax, the nation's largest used-car retailer, has more than 240 retail locations throughout the US. On an average year, the company sells more than 800,000 vehicles on the retail market (plus, its wholesale operation sells more than 550,000 vehicles a year), which is enough volume to capture about 14 percent of the American used car market—that's a massive sample size.
This week, CarMax released its findings on consumer used car market buying trends based on purchases with trade-ins from January 1, 2023, through December 31, 2023.
Toyota has the best brand loyalty (28.5%), with its popular Toyota Prius hybrid being the model with the most loyal owners (38.1%). Mercedes-Benz (27.9%) is second, with Lexus (27.7%) in third. At the bottom of the list is Dodge (9.8%), with Kia (11.4%) earning only slightly better loyalty.
03-16-24, 05:09 AM
Toyota/Lexus are tops in brand and model loyalty in new CARMAX sales study
