November 28th, 2022, Bhavika Bansal
Buying a car is a significant investment for most consumers and informed by a range of factors – size, price, safety, features, engine options, and more. Data from YouGov profiles reveals more than two-thirds of Americans who intend to purchase a new, used, or certified pre-owned car in the next 12 months (65%) consider the overall price, followed by 53% who consider mileage. Built-in features are also a top concern for over two-fifths of these respondents (43%).
It is clear, then, that value for money is far and away the most important consideration for American consumers when deciding which car to purchase.
So, looking at American consumers as a whole (rather than just these prospective car-buyers), which car manufacturers are perceived as offering the best value for money when it comes to getting a new set of wheels?
Data from YouGov BrandIndex reveals that the Toyota earned the highest Value score - which tracks whether consumers think a brand represents good or poor value for money - between November 2021 and October 2022. The Japanese multinational automotive manufacturer – maker of the popular Camry, Corolla, and Prius cars, amongst others - scored 37.4 points during the 12-month period.
Its fellow Japanese manufacturer Honda comes in second, with a score of 32.6. This year the company launched the three-row Pilot and the new-gen Honda HR-V crossover SUV but its bestselling vehicle in the USA remains the Honda Civic.
Subaru comes third with 21.1 points.
While the top three spots are occupied by Japanese auto manufacturers, the list features two American auto giants in the top five. Chevrolet “Chevy” comes fourth with a score of 19.3 followed by the Ford Motor Company – manufacturer of the bestselling Escape, Explorer, and Ford F-Series - in a close fifth with 19.1 points.
The gaps remain wide as we move down the table – Nissan (16.5), Hyundai (15.7), Kia (12.4), Mazda (10.2), and General Motors (8.5) close out the top ten.
Notably, some otherwise popular American cars including Jeep, Buick, and Dodge do not make it to the list of top ten car makers in the US perceived as offering the best value for money.
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Methodology: YouGov BrandIndex collects data on thousands of brands every day. Value score is based on the question: Which of the following brands do you think represents good/poor value for money and delivered as a net score between –100 and + 100. The data is based on the interviews of US adults aged 18+ between November 1, 2021, and October 31, 2022. The figures are based on a four-week moving average. Learn more about BrandIndex.
Photo by Pixabay