Hyundai records highest-ever SUV market share in US


0

Hyundai Motor’s market share in the US sport utility vehicle segment rose to a record high of 3.7 percent as of November, industry sources said Sunday. That marks the South Korean auto giant’s strongest showing since it entered the market in 2000.

Hyundai sold 271,377 SUVs between January and November, a 14.1 percent increase from the same period last year.

The company’s SUV market share had headed downward in recent years after peaking at 3.6 percent in 2009. The figure hit bottom in 2015 with 2.7 percent, but rebounded to 3.1 percent in 2016 and 3.3 percent last year.
 

The Palisade (Hyundai Motor)

Two Hyundai SUVs, the Tucson and the Kona, have led the growth, respectively selling 126,916 and 38,771 units, data showed.

The US auto market has showed signs of sluggish growth, but the steadily growing SUV sector is an exception. Around 7.43 million SUV units were sold last year, 2.5 times more than the 2.91 million figure recorded in 2009.

Hyundai’s slowing performance in the US in recent years has been blamed on a weak SUV lineup, but the company plans to target the market with the Palisade, a large SUV it launched last month. The first shipment of the Palisade is likely to reach the US by summer 2019.

By Cho Chung-un (christory@heraldcorp.com)


Like it? Share with your friends!

0

What's Your Reaction?

hate hate
0
hate
confused confused
0
confused
fail fail
0
fail
fun fun
0
fun
geeky geeky
0
geeky
love love
0
love
lol lol
0
lol
omg omg
0
omg
win win
0
win
Choose A Format
Story
Formatted Text with Embeds and Visuals
Video
Youtube, Vimeo or Vine Embeds
List
The Classic Internet Listicles
Open List
Submit your own item and vote up for the best submission
Countdown
The Classic Internet Countdowns
Poll
Voting to make decisions or determine opinions
Ranked List
Upvote or downvote to decide the best list item
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Meme
Upload your own images to make custom memes
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF
Gif
GIF format