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How Kia and Hyundai got their highest US market share

Date Added: May 05, 2011 06:18:52 AM
Author: Marty Vergel
Category: News & Media: Automotive

Affiliates Hyundai Motor Co. and Kia Motors Corp. recently obtained their highest market share in the US market for mid-size sedans on the first quarter of this year. Statistics showed that from January to March this year the two Korean-based carmakers has garnered 15.1 percent of the market share making them the third highest with Toyota and Nissan on the first and second spot. Due to this, most car critics and observers were curious as to how these car makers did this. In case you are also wondering how they secured this market share, try to read the things provided below. 1. Improved branding One of the most significant reasons aside from offering the best new car deals that allowed the Korean-based car makers Hyundai Motor Co. and KIA Motors Corp. to achieve their highest US market share this year was their efforts on improving their vehicle’s branding. As the years go by, their engineers were able to improve the designs of some of their cheap new car models to fit into the needs of most American buyers. Kia and Hyundai have also revised the designs and features of some of their vehicles in order to please potential buyers in America. In addition to this, both companies installed a lot of safety gadgets, luxurious features, and even extended the interior spaces of their cars to accommodate the sizes of average American drivers. Due to these things, Kia and Hyundai cars became a popular vehicle choice for most car buyers. 2. Intensified promotion The intensification of Kia and Hyundai’s promotional strategies also helped their vehicles to become popular. Their commercial and other promotions improved the buyers’ awareness of their existence which eventually led to increase on their sales. 3. Successive launching of new car models Apart from the things mentioned earlier, Kia and Hyundai’s successive launching of new car models sold at affordable prices also helped their sales to go up. With this trend, it is expected that the two companies’ market share will continue to improve. This would further boost their over-all sales for this year since more lenders are willing to grant the applications for auto loans when an applicant plans to finance a Kia or Hyundai-made car.
Ratings Average rating: 10 (1 votes)
Guest: 2011-05-11 14:38:35
this rocks

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