Hyundai’s Sonata breaks into Top 10 Most-Researched New Vehicles list at KBB.
Wayne Gerdes - CleanMPG
- Mar. 15, 2010
2010 Hyundai Sonata - $19,195 to start and 25 mpgUS combined.
According to Kelley Blue Book’s Market Intelligence data, brand loyalty for Hyundai surpassed that of Honda and Toyota, leading Hyundai's brand loyalty to the No. 1 spot among car shoppers. In addition, Hyundai values have been outperforming the car segment average.
When comparing February 2010 data to Q4 2009, Korean import automaker Hyundai has saw the greatest increase in loyalty, with Hyundai owners looking at new models within the brand increasing by 10.4 percentage points to 56.3 percent. This places Hyundai in the top spot in brand loyalty for the first time in recent history, up from third place in Q4 2009.
In the same timeframe, Toyota fell from the No. 1 spot to third place and Honda continues to hold steady at second place. A fewer percentage of Toyota owners are looking at new models within the brand, down 4.4 percentage points to 53.3 percent, driving Toyota loyalty to third place. Meanwhile, holding steady in second place, Honda owners looking at new models within the brand have increased by 0.7 percentage points to 55.8 percent.
In addition, the Hyundai Sonata recently broke into Top 10 Most-Researched New Vehicles list for the first time. In February, the Sonata was the fifth most-researched new car, with only perpetual 'Top 10 Most-Researched' mainstay Honda and Toyota models such as the Accord, Civic, Camry and CR-V ahead of it.
Throughout the month of February 2010 Hyundai outperformed the overall car segment average by a healthy margin. Hyundai values increased 2 percent month-over-month, relative to a 0.3 percent increase for the entire car segment.
"Hyundai is clearly benefiting from 'a perfect storm' - a result of introducing passionate new products like the 2011 Sonata and 2010 Tucson, while Honda's mainstream vehicles like the CR-V and Accord are a bit stale in the marketplace and Toyota is experiencing a huge consumer perception crisis," said James Bell, executive market analyst for Kelley Blue Book. "To sustain this momentum, Hyundai should continue to promote its attractive new-vehicle lineup, solid warranty offer and strong price-points to new-car shoppers. Hyundai's main challenge in the near future will likely come from domestic automakers like Ford and GM as they gear up for battle over buyers starting to look for a change from 'Camry-land.'"
This Kelley Blue Book Market Intelligence data analysis examined site traffic to used-car trade-in pages and new-car pricing report pages on Kelley Blue Book, and compared loyalty data from Q4 2009 to February 1 – 28, 2010. The KBB Values data within this release represents month-over-month used-vehicle depreciation percentages.