July 19, 2024


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Hyundai Motor Group Rises to #3 in US Retail New Automobile Sector

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By the 1st five months of 2022, Hyundai Motor Team US
retail current market share ranks 3rd, up from sixth a yr back, based mostly on
new automobile registration information compiled by S&P World Mobility.
With 12% of the retail market, Hyundai now trails Toyota and GM,
but outpaces Ford, Stellantis, and American Honda. Hyundai Motor
Team consists of the Hyundai, Kia, and Genesis manufacturers.

Manufacturer-degree new registration facts indicate all three Hyundai
Motor models contributed to Hyundai’s share advancement. As the table
beneath illustrates, because 2017 the retail U.S. current market shares for
Kia, Hyundai, and Genesis have developed by 1.7, 2.1 and .3 proportion
details, respectively. Although Genesis’s enhance is little in complete
conditions, it has quadrupled from .1 five yrs ago.

The growth of the product or service portfolios for all three manufacturers has
played a central position in the corporation’s share development. Now the
corporation has entries in all significant automobile segments, and, extra
importantly, all the key utility segments. While the lessen midsize
utility section is not included, it could be argued that the Sorento
must be in this phase.

None of the brands competes in the two total sizing utility
segments, but alongside one another these two types account for just 3.2%
of new retail registrations (May perhaps 2022 CYTD). It is also noteworthy
that Hyundai Motor’s progress in market share and rise in rank has
taken position without an giving in the regular human body-on-body
pickup segments.

Recent additions to all 3 brands’ portfolios have extra
substantial share to every single brand. Hyundai launched the three-row
Palisade and Location utilities in 2019 (which have contributed 13%
and 4%, respectively, to Hyundai Motor’s May possibly 2022 retail
registration quantity). These were being adopted by the launch of the
Santa Cruz way of living pickup (5% of 2022 retail registrations) in
2021 and the Ioniq 5 EV at the begin of this 12 months(4% of 2022

Kia released the a few-row Telluride in 2019 (15% of May well 2022
CYTD Kia retail registrations), the Seltos in 2020 (7%), the
Carnival midsize van in 2021 (3%), and the EV6 electric vehicle
this calendar year (4%).

Finally, Genesis has considerably benefited from the addition of the
GV70 and GV80 crossovers to its lineup in 2021. People two designs
now account for practically two thirds of all Genesis retail
registrations, and, importantly, supply Genesis auto households
with a crossover choice so the household can continue being manufacturer and
manufacturer loyal.

Hyundai Motor also has demonstrated its means to compete in
the expanding and all-essential EV place. By means of the 1st five
months of this calendar year, the Ioniq 5, EV6, and Niro rank fifth, sixth,
and ninth, respectively, between all EVs on the U.S. market place, based mostly on
new retail registrations. Together these three designs now account
for 11% of all retail EV registrations. Hyundai Motor is the only
corporation other than Tesla to place two or more EVs in the top
ten, and, if Tesla is eradicated, the Ioniq 5 and EV6 rank 2nd and
3rd, trailing only the Mustang Mach-E.

This automotive perception is component of our month-to-month Leading
10 Trends Market Report
. The report conclusions are taken
from new and employed registration and loyalty data. To download the
full report, you should click on beneath.

Download REPORT


Posted 28 July 2022 by Tom Libby, Affiliate Director, Loyalty Solutions and Business Assessment, S&P World Mobility&#13


This posting was published by S&P Worldwide Mobility and not by S&P World-wide Ratings, which is a individually managed division of S&P World.


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