In the realm of U.S. automotive sales, 8% is a magic number. When an automaker hits 8%, they know they’ve become one of the big guns. Ford, Chevrolet, Toyota, Honda, Dodge and Nissan have all made it, and 2011 is expected to be Hyundai’s year.
So sayeth market research firm Polk, and I’m tempted to agree. Hyundai and its partner-brand / internal rival Kia have steadily been evolving into truly world-class carmakers. They’re keenly priced, inoffensive to look at and comprehensively covered quality-wise – everything the vast majority of new car buyers want in this day and age.
Add to that the Little Automaker That Could is experiencing faster market growth than any other offshore-based company selling vehicles in the U.S.; topping the likes of Honda, Toyota and Nissan.
According to Polk, the biggest hurdles facing the South Korean carmaker are the need to add a pickup / ute to its range (see the Toyota Tundra and Honda Ridgeline for more on why this could be a problem) and a lack of focus in its brand image. After all, how does one derive a singular vision out of a range that includes at one end the US$12,445 Accent and at the other the US$58,900 Equus? It’s just not possible.
Still, it’ll be interesting to see how Hyundai’s market share will evolve in the future. With the U.S. automakers finally cleaning up their game and a dearth of low-cost imports on the horizon from China, there’s sure to be some exciting years ahead.
Source: Polk
