Hyundai Motor Group Rises to #3 in US Retail New Vehicle Market

Through the 1st five months of 2022, Hyundai Motor Group US
retail marketplace share ranks 3rd, up from sixth a year ago, centered on
new car registration facts compiled by S&P World Mobility.
With 12% of the retail industry, Hyundai now trails Toyota and GM,
but outpaces Ford, Stellantis, and American Honda. Hyundai Motor
Group is composed of the Hyundai, Kia, and Genesis brands.

Brand name-stage new registration knowledge point out all three Hyundai
Motor brand names contributed to Hyundai’s share advancement. As the desk
under illustrates, since 2017 the retail U.S. sector shares for
Kia, Hyundai, and Genesis have developed by 1.7, 2.1 and .3 proportion
factors, respectively. When Genesis’s maximize is tiny in complete
conditions, it has quadrupled from .1 5 years in the past.

The expansion of the product portfolios for all a few makes has
played a central function in the corporation’s share growth. Now the
company has entries in all important vehicle segments, and, a lot more
importantly, all the key utility segments. When the reduce midsize
utility segment is not included, it could be argued that the Sorento
ought to be in this segment.

None of the models competes in the two whole size utility
segments, but with each other these two groups account for just 3.2%
of new retail registrations (Might 2022 CYTD). It is also noteworthy
that Hyundai Motor’s expansion in current market share and rise in rank has
taken location with out an providing in the common physique-on-frame
pickup segments.

Current additions to all a few brands’ portfolios have included
considerable share to each manufacturer. Hyundai released the a few-row
Palisade and Venue utilities in 2019 (which have contributed 13%
and 4%, respectively, to Hyundai Motor’s May possibly 2022 retail
registration volume). These were being adopted by the start of the
Santa Cruz way of life pickup (5% of 2022 retail registrations) in
2021 and the Ioniq 5 EV at the start of this yr(4% of 2022
registrations).

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

And lastly, Genesis has greatly benefited from the addition of the
GV70 and GV80 crossovers to its lineup in 2021. These two types
now account for virtually two thirds of all Genesis retail
registrations, and, importantly, give Genesis car or truck homes
with a crossover alternate so the household can continue to be model and
producer loyal.

Hyundai Motor also has demonstrated its potential to compete in
the escalating and all-important EV room. By way of the initially 5
months of this year, the Ioniq 5, EV6, and Niro rank fifth, sixth,
and ninth, respectively, among all EVs on the U.S. sector, based on
new retail registrations. Jointly these three models now account
for 11% of all retail EV registrations. Hyundai Motor is the only
corporation other than Tesla to location two or additional EVs in the top
10, and, if Tesla is taken off, the Ioniq 5 and EV6 rank next and
third, trailing only the Mustang Mach-E.

This automotive insight is aspect of our regular Leading
10 Traits Business Report. The report results are taken
from new and employed registration and loyalty data. To obtain the
full report, remember to click underneath.

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Posted 28 July 2022 by Tom Libby, Affiliate Director, Loyalty Alternatives and Business Evaluation, S&P World-wide Mobility&#13
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This posting was published by S&P Global Mobility and not by S&P Worldwide Rankings, which is a independently managed division of S&P Worldwide.