Hyundai owner loyalty surpasses Toyota and Honda
According to the recent Kelley Blue Book’s Market Intelligence data, Hyundai has overtaken Toyota and Honda among the most preferred vehicles of car buyers, up from third place in 2009.
Simply put, owners of Hyundai cars are happier and more satisfied than those of Toyota and Honda. In February this year, Hyundai owners were found to be looking at new Hyundai models.
This observation gives Hyundai a 56.3 percentage in customer loyalty, a huge increase from 10.4 percent. Toyota used to be first but now comes last at third. This means only 53.3% of Toyota owners are considering to buy another Toyota. Honda comes in at second with 55.8%.
Also in February, Hyundai outclassed the overall car segment average by a huge margin. Its month-over-month values went up by 2%, relative to the overall car segment of 3% increase.
Also, the resale values of Hyundai have been outperforming the car segment average, which was used to dominated only by Toyota and Honda in the US market
An executive market analysis for Kelly Blue Book’s popular website, www.kbb.com, James Bell, explained, “Hyundai is clearly benefiting from “a perfect storm” – a result of introducing passionate new products like the 2011 Sonata and 2010 Tucson, while Honda’s mainstream vehicles like the CR-V and Accord are a bit stale in the marketplace and Toyota is experiencing a huge consumer perception crisis.”
To sustain this momentum, Hyundai will continue to promote its attractive new-vehicle lineup, solid warranty offer and strong price-points to new-car shoppers.
Hyundai’s all-new 2011 Sonata topped brand loyalty and was named by kbb.com as the most researched new vehicle for the first time. In February, the Sonata ranked 5th most-researched new car along with the Accord, Civic, Camry and CR-V.
The president and CEO of Hyundai Motor America, John Krafcik, said, “2009 marked an unprecedented year for the Hyundai brand and we are well poised to keep the momentum going in 2010.”
Krafcik continued, “With impressive new vehicles like the all-new Sonata and our dedication to deliver stylish, fuel efficient and affordable vehicles, more customers are adding Hyundai models to their shopping lists.”
It seems that the Hyundai Automotive Group is poised to taking over the United States automobile market. A few years back, Japanese cars such as the Honda Accord and Toyota Camry have dominated the rankings as top car best sellers in the country.
Today, Hyundai and its sister brand Kia were two of the only three car manufacturers that have increased their market share during the shaky 2009 global economic. The other carmaker is was Subaru.