Hyundai’s one of the top-five most considered automobile brands
Hyundai has truly arrived. What was once a fledgling Asian car brand that always lagged behind other huge names such as Honda, Toyota and Nissan is now one of the five most sought after car brands in the world.
Surprisingly, Hyundai began its ascent when the competition was struggling to stay afloat amidst the global economic crunch. The secret was to produce quality cars at affordable prices backed up by a generous warranty package. Hyundai kept its sales up and never looked back. Today, more and more people are looking to buy a Hyundai for its reliability, fuel efficiency and quality while sold at a relatively low price.
This Korean automotive line is now the fifth most sought after non-luxury car brand, according to the Kelly Blue Book Market Intelligence Brand Watch study. It finally kicked Nissan out of the list of top selling cars.
The Top Five Most Considered Car Brand according to the market intelligence brand watch are Ford (29%), Toyota (22%), Chevrolet (21%), Honda (20%) and Hyundai (13%).
The percentages represent the number of people who choose to buy these products. There were about 3,000 car shoppers who participated in this study that was conducted from April 6 to June 17, 2010.
The car watch study revealed that car buyers are looking for five important car qualities in making a decision to buy. These qualities are durability and reliability, driving comfort, fuel efficiency, driving performance and safety, in that order.
It’s been a long time since an American brand led this list. Ford has taken the top spot, thanks in part to Toyota’s manufacturing booboos that have caused the Japanese carmaker to drop down the list.
Based on the same market intelligence car watch study, Hyundai came fourth in the coupe/sedan/hatchback segment, garnering 29 percent. The top three in this segment are Honda (45%), Toyota (42%) and Ford (38%).
James Bell, executive market analyst for Kelley Blue Book’s kbb.com, shares an interesting thought about the list. He explained, “The latest Kelley Blue Book Market Intelligence findings show how the deck is being reshuffled in the automotive marketplace, with certain brands now holding places in consumer perception that we may not have believed just one or two years ago.
Ford continues its upward trajectory and Hyundai is truly on a roll. Both brands prove that when you make dynamic, exciting and affordable products that appeal to the new-car shopping masses, consumer perception begins to change and subsequently, sales will follow.”
Kelley Blue Book continuously tracks and trends consumer preferences and opinions on the strengths and weaknesses of different car brands. This is very helpful to the industry in making sure that people will continue to buy new cars as they come out. This is very helpful to carmakers as Hyundai who sincerely strive to meet the needs of the market and to satisfy its customers.
Vice president of corporate and product planning at Hyundai Motor America, Mike O’Brien told:” Being named one of Kbb.com’s top five most-considered brands truly demonstrates Hyundai’s continued commitment to delivering stylish, fuel efficient and affordable vehicles.
As seen with our recent 2011 Sonata and Tucson CUV, Hyundai is committed to providing quality vehicles with class-leading safety technologies and performance features.”