AUSTIN, Texas -

Say that four used-car shoppers happen search for your vehicle make online. It’s likely that three will then submit a lead for that specific brand, according to a new whitepaper from CarStory. 

And the make most likely to generate “lead loyalty?” It’s Ford.

The Lead Loyalty and Intent to Buy Online whitepaper indicates that 84.4 percent of used-car shoppers who search for Ford will end up submitting a lead for that brand.

Mercedes-Benz was second (83.8 percent lead loyalty) followed closely by BMW (83.3 percent). Rounding out the top five were Dodge (81.5 percent) and Chevrolet (81.4 percent).

Also scoring above 80 percent were Chrysler (81.1 percent) and Volkswagen (81 percent).

Another interesting finding from CarStory was the three pairs of brands with “reciprocal exchanges of lead submission,” those being:

  • Toyota and Honda
  • Chevrolet and Ford
  • BMW and Mercedes-Benz

You might ask, what does the term “reciprocal exchange” mean, exactly?

Well, take one example CarStory gives in its whitepaper.

Toyota has 80 percent lead loyalty and Honda is at 78 percent, which is “fairly average,” CarStory said.

“But, when used-vehicle shoppers search for one of those brands, and then submit a lead on a different brand, it’s likely the other,” the company explains in the paper.

“Specifically, used-vehicle shoppers who first search for Toyotas end up submitting leads on Hondas 4.4 percent of the time,” it continues. “Conversely, used-vehicle shoppers who first search for Hondas end up submitting leads on Toyotas 4.8 percent of the time. Honda also enjoys a similar 4-percent lead conversion rate from users who initially search for Acura (a division of Honda).”

Detailing more about cross-shopping, CarStory also had this interesting nugget.

If a GMC used-vehicle shopper submits a lead, there is nearly a one in 10 chance (9.3 percent) that he or she will submit a lead for a Chevy. That’s almost twice as high as any other single brand cross-over, CarStory said.

Sharing some overall commentary, CarStory chief marketing officer Chad Bockius said: “This brand loyalty and disloyalty data gives salespeople the ability to quickly pivot if the customer’s needs are not being met by the core brand inventory. The knowledge of what the 'next best brands' are for the consumer is invaluable— especially if the shift in sales strategy is fluid and perceived as intuitive or personalized by the consumer.” 

Interestingly enough, the paper also points out that there is a much greater likelihood a shopper will submit a lead for a non-luxury brand than a luxury brand.

In fact, just to give one example, the lead submission rate for Honda is 67 percent stronger than that of Lexus.  Lastly, the study points out a rather disciplined approach by used-car shoppers: most will stay within their original budget.

For more insight from CarStory, be sure to catch Bockius at the CPO Forum during Used Car Week. He is conducting a workshop along with Volkswagen of America senior manager of CPO and used-vehicle operations Michael Ashton at 11 a.m. and 3 p.m. on Nov. 16.