Half-Time Report: Market Share Gainers, Losers; Hyundai Gains Most
July 14, 2009
By Michelle Krebs
Hyundai, buoyed by the Genesis and the brand's value proposition, was the winner in gaining the most market share for the first half of 2009
compared with the first six months of 2008, according to Edmunds.com's
analysis.
Kia, Subaru, Ford and Volkswagen were also gainers in the first six months.
The biggest loser was the Chrysler brand, followed closely by its sibling Dodge brand. Also big losers in market share were General Motors' Chevrolet and Saturn divisions. Toyota also lost.
Hyundai kicked off the half with its then innovative Assurance program, which allows the car to be returned if the buyer loses income to a job loss or medical issue. In addition, the brand has gained a reputation for not only value but also reliability.
Hyundai keeps building the momentum with the introduction of the 2010 Hyundai Sonata at the Detroit auto show in January 2010 as detailed on Edmunds Inside Line's Straightline.
Hyundai also has gained market share by providing a way for cash-strapped consumers to get into one of their new cars. Down payments for Hyundai models are at the low end of the spectrum, barely above $2,000, according to Edmunds.com's analysis. Conversely, the APR Hyundai charges is at the high end, usually above 7 percent. On top of that, Hyundai is deeply discounting its vehicles, by nearly 20 percent compared to the industry average of 15 percent.
Both Korean brands, part of the Hyundai Group, have successfully launched new models during the half with the Hyundai Genesis and the Kia Soul.
Subaru is benefiting in increased market share not only for value but as its position as an alternative to trucks and SUVs with its standard all-wheel drive. The Forester, which has won numerous awards, keeps setting new sales records.
The fact that Ford is the only one of the Detroit automakers that has not filed for bankruptcy nor has it taken any federal dollars strikes a chord with consumers. Ford's sales are being fueled by the Ford Fusion, which keeps scoring high in quality studies.
Volkswagen has been making inroads with its diesel power.
Market Share Gainers, Jan. - June 2009 vs. 2008
|
Make |
2008 |
2009 |
2009 vs. 2008 Change |
|
Hyundai |
3.1% |
4.3% |
1.1% |
|
Kia |
2.1% |
3.1% |
0.9% |
|
Subaru |
1.3% |
1.9% |
0.7% |
|
Ford |
12.9% |
13.5% |
0.6% |
|
Volkswagen |
1.6% |
2.0% |
0.5% |
Source: Edmunds.com
Not surprisingly, brands owned by Chrysler and GM, both of which filed for bankruptcy and accepted government funding in the first half, suffered the biggest market share drops. But so too did Toyota.
Market Share Losers, Jan. - June 2009 vs. 2008
|
Make |
2008 |
2009 |
2009 vs. 2008 Change |
|
Chrysler |
2.8% |
1.9% |
-0.9% |
|
Dodge |
6.2% |
5.4% |
-0.8% |
|
Chevrolet |
13.0% |
12.4% |
-0.6% |
|
Saturn |
1.4% |
0.9% |
-0.5% |
|
Toyota |
14.1% |
13.6% |
-0.4% |
Source: Edmunds.com
Posted by Michelle Krebs at 1:56 PM under Analysis , Companies | Comments (1) | digg this | Seed Newsvine
As look at the musical chairs played out in market share over the last year, I cannot imagine what the rankings will look like next year, or 2011 when we finally see the first "Walter P. Fiats"
What will be the disposition of the old GM Brands? Saturn/Penske? The kicked out GM dealers?
Put a fresh ribbon in the Smith Corona, Michelle, we're all in for a heck of a ride.
Posted by: fulcrumb | July 15, 2009 at 9:12 PM