Auto Store

Spectacular Automotive

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

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

By way of the first 5 months of 2022, Hyundai Motor Group US
retail market share ranks 3rd, up from sixth a yr ago, dependent on
new motor vehicle registration knowledge compiled by S&P Global Mobility.
With 12% of the retail market place, Hyundai now trails Toyota and GM,
but outpaces Ford, Stellantis, and American Honda. Hyundai Motor
Group is composed of the Hyundai, Kia, and Genesis brand names.

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

Model-stage new registration data reveal all a few Hyundai
Motor models contributed to Hyundai’s share progress. As the table
beneath illustrates, since 2017 the retail U.S. sector shares for
Kia, Hyundai, and Genesis have developed by 1.7, 2.1 and .3 percentage
factors, respectively. When Genesis’s maximize is little in absolute
phrases, it has quadrupled from .1 five a long time ago.

The expansion of the merchandise portfolios for all three brands has
performed a central position in the corporation’s share expansion. Now the
corporation has entries in all important automobile segments, and, more
importantly, all the critical utility segments. Though the reduced midsize
utility section is not protected, it could be argued that the Sorento
must be in this section.

None of the brand names competes in the two complete measurement 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 advancement in marketplace share and increase in rank has
taken area without having an offering in the conventional body-on-body
pickup segments.

Latest additions to all three brands’ portfolios have included
sizeable share to every brand. Hyundai introduced the 3-row
Palisade and Venue utilities in 2019 (which have contributed 13%
and 4%, respectively, to Hyundai Motor’s Could 2022 retail
registration quantity). These were followed by the start of the
Santa Cruz lifestyle pickup (5% of 2022 retail registrations) in
2021 and the Ioniq 5 EV at the begin of this yr(4% of 2022

Kia launched the three-row Telluride in 2019 (15% of Could 2022
CYTD Kia retail registrations), the Seltos in 2020 (7%), the
Carnival midsize van in 2021 (3%), and the EV6 electric powered automobile
this yr (4%).

And finally, Genesis has tremendously benefited from the addition of the
GV70 and GV80 crossovers to its lineup in 2021. Those two styles
now account for virtually two thirds of all Genesis retail
registrations, and, importantly, provide Genesis car homes
with a crossover option so the domestic can stay model and
producer loyal.

Hyundai Motor also has demonstrated its skill to compete in
the rising and all-crucial EV space. Via the initial five
months of this 12 months, the Ioniq 5, EV6, and Niro rank fifth, sixth,
and ninth, respectively, amid all EVs on the U.S. market, based on
new retail registrations. Alongside one another these a few products now account
for 11% of all retail EV registrations. Hyundai Motor is the only
corporation other than Tesla to position two or more EVs in the leading
10, and, if Tesla is taken out, the Ioniq 5 and EV6 rank 2nd and
3rd, trailing only the Mustang Mach-E.

This automotive insight is section of our regular Best
10 Traits Industry Report
. The report conclusions are taken
from new and applied registration and loyalty details. To obtain the
full report, please simply click beneath.

Download REPORT


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


This short article was printed by S&P World Mobility and not by S&P World Ratings, which is a separately managed division of S&P International.