According to the Experian Automotive industry market trends and loyalty report, Toyota finished third in overall corporate loyalty, with 45.7 percent of their customers who returned to market during Q1 2012 purchasing or leasing another Toyota vehicle. Toyota’s corporate loyalty ranking had dropped to 41.8 percent in Q2 2011, the first full quarter after the earthquake and tsunami. Honda’s corporate loyalty was 42.1 percent in Q1 2012, after falling to 36.4 percent in Q3 2011.
“Today, the CFPB announced a final rule addressing its role in supervising certain credit reporting agencies, including Experian and others that are large market participants in the industry.
During a field hearing in Detroit, CFPB Director Richard Cordray’s spoke about a new regulatory focus on the accuracy of the information received by the credit reporting companies, the role they play in assembling and maintaining that information, and the process available to consumers for correcting errors. We look forward to working with CFPB on these important priorities.
The Consumer Financial Protection Bureau is coming up on its one year anniversary, and the questions still persist around what it means for credit reporting agencies and other providers of data to the financial services industry. One major focal point has been the agency’s “new” authority to supervise and examine large market participants, like Experian.