It wasn’t a too long ago that Hyundai vehicles faced a terrible stigma. Hyundai’s vehicles were affordable, but not much more could be said. Fast forward to today, and Hyundai’s are still affordable, but they also happen to be luxurious, reliable, stylish, and even sporty.
Thanks to the Korean brand’s radically improving lineup, Hyundai is now in a very different position than it was just a few years ago. The brand has improved so much, in fact, that recent Market Intelligence data from Kelley Blue Book shows that Hyundai now holds the No. 1 position when it comes to brand loyalty among car buyers.
“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,” said James Bell, executive market analyst for Kelley Blue Book’s kbb.com.
Toyota, which once held the No. 1 position, has fallen to third place while Honda has remains in the No. 2 spot. The changing positions of these brands are incredibly important as they do factor into KBB’s used-vehicle depreciation percentages.
As Hyundai continues its slow yet steady increase in market share, don’t expect momentum to slow anytime soon. Hyundai’s latest models have met high demand while the automaker’s prominent advertising initiatives and solid warranty continue to fuel interest from car buyers that are new to the brand.
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