The recent data from the American Customer Satisfaction Index (ACSI) Automobile Study 2022-23 has shown a strong recovery for the auto industry following last year’s downturn. Automobile customer satisfaction increased by 3% to an overall score of 79 out of 100. Luxury vehicles maintain their edge over mass-market vehicles with a score of 81, but the margin is narrowing, as mass-market vehicles also scored 79, marking a 3% rise.
Leading the charge is Toyota, with a dominant score of 84, racing past its mass-market competitors and emerging as the leader in the industry. Noteworthy factors contributing to Toyota’s success include resilience to pandemic-related supply chain disruptions and exemplary performance in gas mileage, dependability, and quality for the price. Impressively, despite limited inventory, 35% of American car shoppers contemplated buying a Toyota vehicle, more than any other brand. Following closely behind are Subaru with a score of 82 and Honda and Mazda with 81 and 80, respectively. However, not all enjoyed the uptrend, with brands like Nissan, Volkswagen, Jeep, and Ram experiencing dips, and Chrysler occupying the last spot with a score of 71.
On the luxury front, Lexus, after a slight 1% dip to 83, now shares its top position with Tesla, which saw a 4% increase. Trailing closely is Cadillac at 82, while Audi, BMW, and Mercedes-Benz all stand at 80. Acura, after holding the second position the previous year, now sits at the end with 79. Interestingly, younger buyers (ages 26 to 41) exhibited a pronounced preference for luxury vehicles, particularly swayed by technology, and show higher satisfaction levels with luxury cars over mass-market ones.
Electric vehicles (EVs) and hybrids continue to be an area of interest, with drivers of these vehicles generally expressing more satisfaction than those with gas-powered cars. Yet, despite governmental pushes towards EVs, issues like insufficient public chargers and concerns over dependability and reliability present hurdles. As Forrest Morgeson, Associate Professor of Marketing at Michigan State University, commented, EVs have advancements to make before they can convince a wider audience to transition from gasoline.
The detailed insights provided by the ACSI Automobile Study 2022-2023 come from interviews with 8,941 randomly chosen customers, conducted between July 2022 and June 2023.