The REV #012

REV #012: Toy-WHOA-ta, Q1-Q2 2024 Reputation Benchmarks, Refreshed Reputation Index

August 21st, 2024

Welcome to the REV. A briefing that goes deep into the Widewail Automotive Reputation Index data, surfacing the most interesting insights. Every 3 weeks we Rank, Explore & Visualize automotive reputation & sentiment data.

Explore newly refreshed Widewail Automotive Reputation Index data.

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Index Now Has 2024 Data

On November 8th, 2023 - We launched the Automotive Reputation Index.

We intended to offer something unique, fresh, and transparent: the entire auto industry’s reputation on one page.

And the industry loved it.

But lately it’s been stale. The data is old.

Today we’re fixing that.

The data is not just refreshed but expanded. And the star of the show is time-period data.

MoM. QoQ. YoY.

The Index has progressed beyond a snapshot. It’s now moving with the industry, tracking local ripples and national tides.

Today we’re releasing data from Q1 and Q2. Starting in September, we’ll begin updating the data monthly so you can keep up-to-date with the movement of your dealership(s) and competitors.

Browse New Index

RANK

Toyota's 2024

2024 is the year of Toyota.

It’s making all the headlines.

“Toyota hits record annual output, sales on robust demand” —Reuters

“Skyrocketing Toyota Prius Sales Proves People Want Hybrids, Not EVs” —Motor1

In the first half of 2024, Toyota sold over 1 million vehicles, up 14.7% from 2023. Toyota’s Lexus division had its best-ever first-half sales: moving 167,000 vehicles, representing 12% growth YoY.

Why? Hybrids.

Toyota’s expansion of its hybrid lineup, resisting heavily investing in EVs is proving to be the strategy of the day. The brand’s electrified vehicle sales (hybrids & EVs) totaled 454,000 in the first half of 2024, up 68% from last year.

Toyota’s strong sales performance is trickling down to its reputation, and for the first time, we can see how the brand’s reputation data is trending over time with newly introduced QoQ and YoY data points.

Toyota has taken a decisive lead, the review volume “leader in the clubhouse” of 2024. With a median monthly volume per rooftop of 27 Google reviews per month, every other automaker is now looking at taillights.

Toyota’s YoY review volume increase of 29% is surpassed only by Honda’s 37% jump. Honda is also having a strong sales year, up 11% as reported by Cox.

I’m not yet sure how to fully articulate this, but the review efficiency of the luxury brands on this list is worth highlighting. Lexus’ vehicle sales totaled just 16% of Toyota’s in Q1/Q2, but generated 86% of Toyota’s reviews. BMW sold 25% of Honda but generated 91% of its reviews.

BMW and Lexus are taking advantage of their limited opportunities.

How to brand benchmarks in the index: Go to “Group” and select “Group” from the dropdown. Collapse all OEM groupings for a quick scan of OEM benchmarks for 2024 YTD, Q2 and Q1.

Go to Index

EXPLORE & VISUALIZE

Benchmark Szn

Q1-Q2 Automotive Reputation Benchmarks Graphic – 2-2

Each core reputation metric has remained relatively consistent in 2024 YTD.

Where I’m focused: the review volume drop and increase from Q1 to Q2 and the dramatic drop in review response percentage.

Trends

Review volume rises 29% in the first half of 2024 on strong Q2 performance.
Ratings improve YoY by a small, but strong, 2%.
Negativity is down 8.5% YoY.
The percentage of reviews responded to has increased 1.7% YoY.

Go to Index

If you have feedback on the updated Index respond here. It's appreciated!

More REV in 3 weeks - Jake, Marketing @Widewail