Hyundai and Subaru Mark Significant Growth in Brand Equity and Sales. Coincidence?
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NEW YORK - March 16, 2010: Market research firm Harris Interactive has released the 2010 results of EquiTrend®, its renowned annual brand equity study that measures over 1,000 brands across 42 categories. Included in the study is a focus on automotive manufacturers, reviewing consumers’ opinions of 35 brands.
“We will be closely monitoring levels of consumer trust in automotive brands, especially as it relates to perceptions of personal safety and product quality. The recent crisis highlights just how quickly a foundation of trust can be shattered.”
In a year of turmoil for the automotive industry Hyundai and Subaru stand out as leaders in consistently building consumer brand equity over the past several years. These same brands have posted year over year sales increases while the industry has suffered double digit sales declines. “Our EquiTrend data suggests that in a severe downturn such as one experienced in the auto industry, brands with solid equity growth are resilient and can indeed succeed,” stated Carol Gstalder, Senior Vice President, Business and Industrial at Harris Interactive.
Automotive brands receiving bailout money after the onset of the recession in 2008, including GM and Chrysler, took immediate hits to their brand equity in the 2009 study. GM’s efforts to rebuild are beginning to pay off, as their equity is now consistent with their 2008 level, yet far below its 2005 position. It looks as if Ford is being rewarded for not taking bailout money, reaching number three this year and at its highest score since 2005.
| Brand | 2005 | 2010 |
Change since 2005 |
|||||||||
| Toyota Vehicles | 61.29 | 64.13 | 2.84 | |||||||||
| Honda Vehicles | 59.95 | 61.50 | 1.55 | |||||||||
| Ford Vehicles | 57.79 | 59.50 | 1.71 | |||||||||
| Chevrolet Vehicles | 61.35 | 57.64 | -3.71 | |||||||||
| GMC Vehicles | 59.65 | 57.16 | -2.49 | |||||||||
| General Motors | 60.83 | 57.13 | -3.70 | |||||||||
| Nissan Vehicles | 55.06 | 54.36 | -0.70 | |||||||||
| Volkswagen Vehicles | 51.19 | 51.28 | 0.09 | |||||||||
| Mazda Vehicles | 50.16 | 50.36 | 0.20 | |||||||||
| Subaru Vehicles | 44.36 | 50.17 | 5.81 | |||||||||
| Buick Vehicles | 51.73 | 49.49 | -2.24 | |||||||||
| Dodge Vehicles | 51.04 | 49.28 | -1.76 | |||||||||
| Jeep Vehicles | 52.72 | 48.78 | -3.94 | |||||||||
| Mitsubishi Vehicles | 47.86 | 47.95 | 0.09 | |||||||||
| Chrysler Vehicles | 53.87 | 47.87 | -6.00 | |||||||||
| Hyundai Vehicles | 43.53 | 47.68 | 4.15 | |||||||||
| Mercury Vehicles | 47.84 | 47.59 | -0.25 | |||||||||
| MINI Cooper | 44.04 | 47.46 | 3.42 | |||||||||
| Scion Vehicles | Not measured | 46.46 | N/A | |||||||||
| Kia Vehicles | Not measured | 43.25 | N/A | |||||||||
| Smart Car | Not measured | 42.35 | N/A | |||||||||
| Suzuki Vehicles | Not measured | 42.07 | N/A |
With the survey’s questions fielding just before Toyota’s January recall, Toyota ranked highest in brand equity for 2010. Interestingly, Honda ranked highest when evaluated on the dimension of Trust, with Toyota placing second. “We will be closely monitoring levels of consumer trust in automotive brands, especially as it relates to perceptions of personal safety and product quality. The recent crisis highlights just how quickly a foundation of trust can be shattered.”
Methodology
The EquiTrend® study evaluates measures including: Equity, Consumer Connection, Commitment, Energy, Brand Behavior, Brand Advocacy, and Trust. The keystone to the program is Equity, which provides an understanding of a brand’s overall strength and is determined by a calculation of Familiarity, Quality, and Purchase Consideration.
This year’s EquiTrend® study was conducted online among 19,708 U.S. consumers ages 15 and over between January 12 and 21, 2010. The total number of brands rated was 1,151. Each respondent was asked to rate a total of 60 randomly selected brands. Each brand received approximately 1,000 ratings. Data were weighted to be representative of the entire U.S. population of consumers ages 15 and over on the basis of age, sex, education, race/ethnicity, region, and income, and data from respondents ages 18 and over were also weighted for their propensity to be online.
The EquiTrend® study results disclosed in this release may not be used for advertising, marketing or promotional purposes without the prior written consent of Harris Interactive.
Product and brand names are trademarks or registered trademarks of their respective owners.
For a complete listing of all the brands covered in the study, contact Alyssa Hall at 212-539-9600 or ahall@harrisinteractive.com.
About Harris Interactive
Harris Interactive is one of the world’s leading custom market research firms, leveraging research, technology, and business acumen to transform relevant insight into actionable foresight. Known widely for the Harris Poll and for pioneering innovative research methodologies, Harris offers expertise in a wide range of industries including automotive, healthcare, technology, public affairs, energy, telecommunications, financial services, insurance, media, retail, restaurant, travel and consumer package goods. Serving clients in over 215 countries and territories through our North American, European, and Asian offices and a network of independent market research firms, Harris Interactive specializes in delivering research solutions that help us – and our clients – stay ahead of what’s next.
