Hyundai Motor Group Rises to #3 in US Retail New Vehicle Market
Via the to start with 5 months of 2022, Hyundai Motor Team US
retail market share ranks 3rd, up from sixth a year in the past, centered on
new automobile registration information compiled by S&P Worldwide Mobility.
With 12% of the retail marketplace, Hyundai now trails Toyota and GM,
but outpaces Ford, Stellantis, and American Honda. Hyundai Motor
Group is composed of the Hyundai, Kia, and Genesis models.
Brand name-level new registration info show all a few Hyundai
Motor brand names contributed to Hyundai’s share growth. As the desk
under illustrates, considering that 2017 the retail U.S. sector shares for
Kia, Hyundai, and Genesis have grown by 1.7, 2.1 and .3 proportion
points, respectively. Although Genesis’s boost is compact in complete
phrases, it has quadrupled from .1 five years in the past.
The expansion of the product portfolios for all three manufacturers has
played a central job in the corporation’s share growth. Now the
company has entries in all significant motor vehicle segments, and, far more
importantly, all the key utility segments. Although the lower midsize
utility segment is not lined, it could be argued that the Sorento
should be in this section.
None of the models competes in the two whole dimensions utility
segments, but together these two categories account for just 3.2%
of new retail registrations (May possibly 2022 CYTD). It is also noteworthy
that Hyundai Motor’s expansion in sector share and increase in rank has
taken location devoid of an providing in the common physique-on-frame
pickup segments.
New additions to all 3 brands’ portfolios have extra
considerable share to each individual manufacturer. Hyundai launched the three-row
Palisade and Venue utilities in 2019 (which have contributed 13%
and 4%, respectively, to Hyundai Motor’s Could 2022 retail
registration volume). These ended up adopted by the launch of the
Santa Cruz life style pickup (5% of 2022 retail registrations) in
2021 and the Ioniq 5 EV at the get started of this yr(4% of 2022
registrations).
Kia introduced the 3-row Telluride in 2019 (15% of May perhaps 2022
CYTD Kia retail registrations), the Seltos in 2020 (7%), the
Carnival midsize van in 2021 (3%), and the EV6 electrical car
this 12 months (4%).
And lastly, Genesis has considerably benefited from the addition of the
GV70 and GV80 crossovers to its lineup in 2021. Individuals two designs
now account for just about two thirds of all Genesis retail
registrations, and, importantly, supply Genesis vehicle homes
with a crossover alternate so the domestic can continue being brand name and
producer loyal.
Hyundai Motor also has demonstrated its potential to contend in
the increasing and all-important EV house. By means of the 1st 5
months of this yr, the Ioniq 5, EV6, and Niro rank fifth, sixth,
and ninth, respectively, among the all EVs on the U.S. market, based on
new retail registrations. Collectively these 3 designs now account
for 11% of all retail EV registrations. Hyundai Motor is the only
company other than Tesla to area two or additional EVs in the leading
10, and, if Tesla is taken out, the Ioniq 5 and EV6 rank next and
third, trailing only the Mustang Mach-E.
This automotive insight is portion of our monthly Top
10 Developments Market Report. The report results are taken
from new and made use of registration and loyalty facts. To down load the
whole report, be sure to click on below.
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This write-up was published by S&P Worldwide Mobility and not by S&P World wide Rankings, which is a independently managed division of S&P World wide.