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

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Hyundai Motor Group Rises to #3 in US Retail New Vehicle Market
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Via the initially 5 months of 2022, Hyundai Motor Team US
retail market share ranks third, up from sixth a year in the past, based mostly on
new motor vehicle registration knowledge compiled by S&P Global Mobility.
With 12% of the retail industry, Hyundai now trails Toyota and GM,
but outpaces Ford, Stellantis, and American Honda. Hyundai Motor
Group consists of the Hyundai, Kia, and Genesis brand names.

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

Brand-amount new registration data point out all 3 Hyundai
Motor makes contributed to Hyundai’s share development. As the table
below illustrates, considering that 2017 the retail U.S. industry shares for
Kia, Hyundai, and Genesis have grown by 1.7, 2.1 and .3 percentage
details, respectively. Though Genesis’s increase is compact in complete
terms, it has quadrupled from .1 5 years ago.

The growth of the solution portfolios for all 3 manufacturers has
performed a central position in the corporation’s share progress. Now the
corporation has entries in all big car or truck segments, and, a lot more
importantly, all the vital utility segments. Whilst the decreased midsize
utility phase is not included, it could be argued that the Sorento
must be in this section.

None of the brands competes in the two entire sizing utility
segments, but together these two classes account for just 3.2%
of new retail registrations (May well 2022 CYTD). It is also noteworthy
that Hyundai Motor’s growth in sector share and increase in rank has
taken spot with out an providing in the classic physique-on-body
pickup segments.

Current additions to all three brands’ portfolios have added
substantial share to each brand name. Hyundai introduced the 3-row
Palisade and Location utilities in 2019 (which have contributed 13%
and 4%, respectively, to Hyundai Motor’s Could 2022 retail
registration quantity). These were being followed by the launch of the
Santa Cruz life style pickup (5% of 2022 retail registrations) in
2021 and the Ioniq 5 EV at the start off of this yr(4% of 2022
registrations).

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

And finally, Genesis has enormously benefited from the addition of the
GV70 and GV80 crossovers to its lineup in 2021. Those people two models
now account for almost two thirds of all Genesis retail
registrations, and, importantly, supply Genesis motor vehicle households
with a crossover different so the household can remain model and
company loyal.

Hyundai Motor also has shown its capacity to contend in
the increasing and all-vital EV place. By means of the first five
months of this year, the Ioniq 5, EV6, and Niro rank fifth, sixth,
and ninth, respectively, among all EVs on the U.S. market place, based mostly on
new retail registrations. Collectively these three types now account
for 11% of all retail EV registrations. Hyundai Motor is the only
company other than Tesla to area two or much more EVs in the top
10, and, if Tesla is taken out, the Ioniq 5 and EV6 rank 2nd and
third, trailing only the Mustang Mach-E.

This automotive perception is part of our monthly Major
10 Trends Field Report
. The report results are taken
from new and made use of registration and loyalty info. To download the
full report, remember to simply click underneath.

Obtain REPORT

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Posted 28 July 2022 by Tom Libby, Affiliate Director, Loyalty Solutions and Marketplace Assessment, S&P World Mobility&#13
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This report was posted by S&P International Mobility and not by S&P Global Ratings, which is a individually managed division of S&P Global.

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