Friday, December 10, 2010

Ford (NYSE:F), Honda (NYSE:HMC) 1st in customer loyalty

In a customer survey released by J.D. Power and Associates, among automakers Ford (NYSE:F) and Honda (NYSE:HMC) were identified as the top companies in retaining customers.

The survey included every auto brand out there.

Consumers gave both companies a 62 percent rating to end in a first-place tie for retention rates.

Just behind the two were Toyota (NYSE:TM), Lexus, and Hyundai, all of which scored a 60 percent retention level.

As far as other U.S. companies, Chevrolet was the next in line, being given a 52 percent rating from customers. That was good for a 9th place finish.

Ford was helped to their showing by F-Series pickups, the Fusion midsize sedan, and the Edge crossover.

Honda was led by their CR-V crossover, Pilot SUV and Accord sedan.

Raffi Festekjian, director of automotive product research at J.D. Power and Associates, said, "Now that economic and market conditions have improved somewhat, vehicle owners are increasingly citing emotional, rather than practical, reasons for staying with their vehicle brand or switching to a different one."

Ford closed Thursday at $16.76, up $0.07, or 0.42 percent. Honda ended at $37.77, up $0.51, or 1.37 percent. Toyota closed at $77.97, down $0.39, or 0.50 percent.

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