BMW, Toyota Top Brand Watch List

By Staff Writer November 17, 2022
BMW takes the #1 spot. The 3 Series  has been a standout for decades since its 1976 debut, and is is BMW's best-selling vehicle of all-time. BMW takes the #1 spot. The 3 Series has been a standout for decades since its 1976 debut, and is is BMW's best-selling vehicle of all-time.

Tesla shopping plummeted while BMW maintained its stronghold as No. 1 among luxury vehicle shoppers, and Toyota widened its lead as the most-shopped non-luxury brand in America, according to the Q3 2022 Kelley Blue Book Brand Watch reports. Meanwhile, consideration for traditional cars rebounded to pre-pandemic levels during the third quarter of this year.

Kelley Blue Book Brand Watch is a consumer perception survey that also weaves in shopping behavior to determine how vehicle brands and models – both luxury and non-luxury – stack up with segment competitors when it comes to consumer shopping. 

“BMW and Toyota continue to stand firm in their positions as the most-shopped luxury and non-luxury brands (respectively), and both automakers increased their lead over the competition during Q3 2022,” said Vanessa Ton, senior research and market intelligence manager at Cox Automotive. “The third quarter also saw a noteworthy drop in consideration for Tesla, which could have been caused by a number of factors. Increased competition from other automakers offering electric vehicles, price hikes and a lack of new products all may have contributed to Tesla’s considerable decline. However, Tesla’s shopping numbers have dropped before and they always eventually rebound. It will be interesting to see if they rebound more slowly or quickly this time around.”

Toyota's Corolla, the #1 selling car of all time with 50 million sold over 55 years.

Lexus, Cadillac, Audi and Mercedes-Benz (in that order) ranked behind BMW as the most-shopped luxury brands – all ahead of Tesla and all with the same percentage of shopping consideration in Q3 as they had in the previous quarter.

Meanwhile, shopper interest in Tesla plummeted quarter over quarter. Tesla fell to sixth from fifth in the rankings of most-shopped luxury brands, with 12% of all luxury shoppers considering a Tesla – down 3 percentage points from Q2 2022 and notably the largest quarter-over-quarter loss for any luxury brand.

Despite having one of the lowest inventory levels in the U.S. automotive industry, Toyota widened its lead in shopping consideration over Ford and Chevrolet among non-luxury shoppers in the third quarter of this year. Of all non-luxury shoppers, 35% considered a Toyota in Q3 2022, the same percentage as the previous quarter. No. 2 Ford and No. 3 Chevrolet each dropped by 1 percentage point quarter over quarter to 30% and 29%, respectively. Toyota had strong shopping consideration for a variety of its models, most notably with quarterly growth for the RAV4 Hybrid soaring 21%. Other brands gaining consideration in Q3 include Jeep, Subaru and Volkswagen.

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Last modified on Wednesday, 23 November 2022 15:30