After Ford Motor Co. and General Motors ended production of compact cars, many former car owners continued to purchase sedans instead of switching to crossovers and SUVs, according to an Edmunds analysis.
So far in 2019, 23 percent of former Chevy Cruze owners and 31 percent of former Ford Focus owners bought a car from a competitor, the online car sales website said in a report Wednesday.
“Ford and GM made a strategic decision to prioritize profit at the expense of market share,” Jessica Caldwell, Edmunds’ executive director of insights, said in a statement. “While this may set them up better in the long run so they have the cash they need to fund electrification and autonomy, there’s no question that decision is giving their competitors an edge now.”
Former Focus owners’ brand loyalty declined over the last three years from 40 percent in 2016 to 33 percent through September 2019, the report said. Former Cruze owners’ loyalty declined from 57 percent in 2016 to 45 percent in…
Source news autonews.com, click here to read the full news.
