December 4, 2022

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


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By the very first five months of 2022, Hyundai Motor Team US
retail sector share ranks 3rd, up from sixth a calendar year in the past, based on
new automobile 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
Group is made up of the Hyundai, Kia, and Genesis brands.

Model-amount new registration information reveal all 3 Hyundai
Motor models contributed to Hyundai’s share progress. As the desk
beneath illustrates, because 2017 the retail U.S. market shares for
Kia, Hyundai, and Genesis have developed by 1.7, 2.1 and .3 share
points, respectively. When Genesis’s improve is modest in complete
conditions, it has quadrupled from .1 five years back.

The enlargement of the product portfolios for all 3 models has
performed a central position in the corporation’s share progress. Now the
company has entries in all major car segments, and, much more
importantly, all the crucial utility segments. Whilst the lessen midsize
utility section is not included, it could be argued that the Sorento
really should be in this section.

None of the brand names competes in the two complete dimension utility
segments, but collectively these two groups account for just 3.2%
of new retail registrations (May perhaps 2022 CYTD). It is also noteworthy
that Hyundai Motor’s advancement in current market share and rise in rank has
taken spot devoid of an supplying in the standard overall body-on-body
pickup segments.

Latest additions to all 3 brands’ portfolios have additional
significant share to each and every manufacturer. Hyundai introduced the three-row
Palisade and Venue utilities in 2019 (which have contributed 13%
and 4%, respectively, to Hyundai Motor’s May perhaps 2022 retail
registration quantity). These had been followed by the launch of the
Santa Cruz way of life pickup (5% of 2022 retail registrations) in
2021 and the Ioniq 5 EV at the start out of this 12 months(4% of 2022
registrations).

Kia released the three-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 motor vehicle
this year (4%).

Last of all, Genesis has drastically 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, offer Genesis vehicle households
with a crossover alternative so the house can stay brand and
producer loyal.

Hyundai Motor also has demonstrated its ability to contend in
the expanding and all-crucial EV house. Through the initially five
months of this 12 months, the Ioniq 5, EV6, and Niro rank fifth, sixth,
and ninth, respectively, between all EVs on the U.S. sector, based mostly 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
company other than Tesla to place two or a lot more EVs in the top
10, and, if Tesla is taken out, the Ioniq 5 and EV6 rank next and
3rd, trailing only the Mustang Mach-E.

This automotive perception is section of our regular monthly Best
10 Trends Sector Report
. The report findings are taken
from new and employed registration and loyalty info. To download the
whole report, you should click on underneath.

Obtain REPORT

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Posted 28 July 2022 by Tom Libby, Associate Director, Loyalty Answers and Sector Examination, S&P World Mobility&#13
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This article was published by S&P World wide Mobility and not by S&P World-wide Scores, which is a separately managed division of S&P World wide.



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