December 7, 2022

Javier14mascherano

Born to perform

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

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As a result of the initial five months of 2022, Hyundai Motor Group US
retail market share ranks third, up from sixth a yr ago, dependent on
new auto registration information compiled by S&P World-wide Mobility.
With 12% of the retail marketplace, Hyundai now trails Toyota and GM,
but outpaces Ford, Stellantis, and American Honda. Hyundai Motor
Team is made up of the Hyundai, Kia, and Genesis brand names.

Model-amount new registration details suggest all three Hyundai
Motor brand names contributed to Hyundai’s share expansion. As the table
under illustrates, since 2017 the retail U.S. industry shares for
Kia, Hyundai, and Genesis have developed by 1.7, 2.1 and .3 percentage
details, respectively. Even though Genesis’s raise is smaller in complete
conditions, it has quadrupled from .1 five several years back.

The enlargement of the item portfolios for all 3 brand names has
played a central purpose in the corporation’s share expansion. Now the
corporation has entries in all big car or truck segments, and, much more
importantly, all the key utility segments. Although the decrease midsize
utility segment is not covered, it could be argued that the Sorento
should really be in this phase.

None of the makes competes in the two complete dimension utility
segments, but collectively these two groups account for just 3.2%
of new retail registrations (May 2022 CYTD). It is also noteworthy
that Hyundai Motor’s development in market place share and increase in rank has
taken position without an offering in the conventional entire body-on-body
pickup segments.

Recent additions to all a few brands’ portfolios have added
significant share to just about every model. Hyundai launched the 3-row
Palisade and Venue utilities in 2019 (which have contributed 13%
and 4%, respectively, to Hyundai Motor’s Might 2022 retail
registration quantity). These had been 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 begin of this year(4% of 2022
registrations).

Kia launched the three-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 car or truck
this year (4%).

Last of all, Genesis has drastically benefited from the addition of the
GV70 and GV80 crossovers to its lineup in 2021. Those two styles
now account for pretty much two thirds of all Genesis retail
registrations, and, importantly, provide Genesis vehicle homes
with a crossover alternate so the house can keep on being manufacturer and
company faithful.

Hyundai Motor also has shown its ability to compete in
the developing and all-significant EV space. Via the first 5
months of this calendar year, the Ioniq 5, EV6, and Niro rank fifth, sixth,
and ninth, respectively, among all EVs on the U.S. market place, primarily based on
new retail registrations. With each other these a few products now account
for 11% of all retail EV registrations. Hyundai Motor is the only
corporation other than Tesla to area two or a lot more EVs in the leading
ten, and, if Tesla is eliminated, the Ioniq 5 and EV6 rank 2nd and
third, trailing only the Mustang Mach-E.

This automotive insight is component of our monthly Major
10 Tendencies Field Report
. The report findings are taken
from new and applied registration and loyalty knowledge. To download the
complete report, please click on under.

Obtain REPORT

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Posted 28 July 2022 by Tom Libby, Associate Director, Loyalty Alternatives and Business Assessment, S&P World Mobility&#13
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This write-up was posted by S&P World wide Mobility and not by S&P World Scores, which is a separately managed division of S&P World.

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