Accounts for 8.9% of the U.S. Market in June
The Korea Automobile Manufacturers Association announced on Oct. 5 that South Korean car brands accounted for 8.9 percent of the U.S. market in June to August this year. The figure is equal to their all-time high, which was recorded in 2011.
For reference, Hyundai Motor Group’s U.S. market share was 7.7 percent in December 2019 to February this year. The group suspended manufacturing in the United States from March to May in the wake of COVID-19. GM’s market share, meanwhile, fell 1.8 percentage points between the two periods. Likewise, those of Toyota, Nissan and Mitsubishi fell 0.3 percentage point, 1.2 percentage points and 0.4 percentage point, respectively.
Hyundai Motor Group succeeded in increasing its market share by expanding its SUV lineup with Palisade, Venue, Seltos, etc. No less than 17 Hyundai and Kia models earned Top Safety Pick or higher at this year’s IIHS crash tests and the group earned those ratings more than anyone else for the second consecutive year.
“Hyundai and Kia did not stop manufacturing in South Korea from March to May this year and, as a result, they could respond quickly to the rapid increase in demand that followed the lifting of lockdowns in multiple countries,” the association explained.