The car-buying market has struggled for several years due to pandemic-related production issues. However, manufacturers are expected to balance the supply and increase the availability of incentives for consumers who are looking to purchase new cars in 2024. This will create a favorable situation for car buyers. However, selecting a new car remains a significant decision heavily influenced by consumer perceptions and extensive research into brands and models.
To help buyers make an informed decision, Kelley Blue Book, a Cox Automotive subsidiary, has announced the 2024 Consumer Choice Awards winners. Previously known as the Brand Image Awards, these awards recognize automakers’ success in establishing brand attributes that captivate and excite new-car buyers. The awards are based on an annual study of consumers’ perceptions, focusing on luxury and non-luxury segments, including trucks and electric/hybrid vehicles.
Vanessa Ton, senior research and market intelligence manager at Cox Automotive, stated, “Honda won most of the non-luxury categories and received more wins than any other automaker for 2024 in this year’s Consumer Choice Awards.” She added, “In-market shoppers’ real voices who vote on Kelley Blue Book’s KBB.com determine these awards. Previously known as the Brand Image Awards, these awards have been renamed to better reflect its focus on customer perception.”
Moreover, it’s important to note that Honda secured nearly all non-luxury category awards, including Best Overall Brand, Most Trusted Brand, Best Value Brand, Best Performance Brand, and Best In-Vehicle Experience Brand.
Remarkably, Honda also clinched the Best EV/Hybrid Brand award, outperforming both non-luxury and luxury automakers.
In the truck segment, Ram surpassed Toyota to win the Best Overall Truck Brand Award, ending Toyota’s five-year streak. Dodge reclaimed the title of the Best Car Styling Brand among non-luxury automakers, surpassing Ford.
Furthermore, Lexus won both the Best Overall Luxury Brand and Most Trusted Luxury Brand awards, maintaining its lead in trustworthiness for nine consecutive years. Mercedes-Benz received accolades for being the most refined luxury brand and the best car styling luxury brand, while Porsche ousted Tesla for the Best Performance Brand Award. Buick was named Best Value Luxury Brand, ending Tesla’s four-year winning streak.
The 2024 Consumer Choice Awards reflected a shift in the automotive industry, with increased competition and a slowdown in EV sales growth affecting brand dynamics. With challenges from both established and new automakers, Tesla saw its market influence wane as companies with diverse powertrain options and innovative designs gained recognition.
