Sales and loyalty data has revealed that the Genesis brand continues to serve an important role for the Hyundai Motor Group in the United States, contributing to sizeable growth in both metrics.
Data from S&P Global Mobility reveals that Hyundai and Kia sold a combined 1.39 million vehicles in the U.S. in 2015 and at the time, its customer loyalty was sitting at 55.2%. Since 2015, the Genesis brand has expanded considerably to now include three sedans and three SUVs and last year, Hyundai and Kia sold 1.45 million vehicles. Of these, 56,140 came from the Genesis brand.
In addition to playing a role in boosting sales in the face of supplier shortages impacting production throughout most of 2022, Genesis contributed to the Hyundai Motor Group’s customer loyalty swelling to 62.3%. S&P Global Mobility notes that the quality and appeal of vehicles is a key factor in customer loyalty, as is the breadth and depth of the product portfolio. Now that the Hyundai family has more options, there’s a better chance the brand will see return customers.
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“By offering Hyundai, Kia, and now Genesis, Hyundai Motor Group has shown it can attract new owners and keep them,” S&P Global Mobility associate director of loyalty solutions and industry analysis Tom Libby said. “This opens up more options for a household that has the means to move up to a luxury vehicle, to stay within the corporation in a way that did not exist before Genesis.”
While customer loyalty at Hyundai in the U.S. has dipped slightly to 60.5% through the first half of the year, the carmaker remains in second place in the industry, only behind GM.
“The credibility and competitiveness of Genesis has really gone way up, I think partially because of the competitiveness of the Kia and Hyundai brands,” Libby said. “You can really see the evolution of this brand as they’ve sold that initial product, brought those customers in, and kept improving the quality. The Genesis brand should only help them going forward, increasing that loyalty and presence in the industry.”
