Based on the market forecasts, it is quoted that Kia and Hyundai has their sales pointed in the upward direction, also gained significant market shares, while rest of the industry were struggling in the past month. For the month of April, it is expected that Kia and Hyundai are to achieve the market shares at the highest level which is a 9.4 percent.
Both the brands, Kia and Hyundai which have that same parent which is a South Korean company, have their sales combined together go up by 1.6 percent, while the rest of the industry witnessed a drop up to eight percent. The statistics posted above are for the sales between the months of March to April.
From the statistics of 2011, Hyundai witnessed its market share climb up at the rate of 3 percent to 4.2 percent and the Kia experienced a 3.1 percentage share in 2010. If success rate by the company is to continue throughout the year, it could be said by the end of this year, that one out of the ten new cars would either belong to Kia or Hyundai.
There are no doubts in people’s mind on the success rate as both the companies have let out their best models this year which are the 2011 Kia Optima and 2011 Hyundai Elantra. So it is perfectly understood if their market shares are up extraordinarily this year.
According to the forecasts by Truecar, overall retail in US for the sale of new vehicles is to fall by 8.3 percent this April when compared to the previous month, while the sales has short up by 15.4 percent from April 2010.
The incentives granted per month for a vehicle is about $2,386 this month by the automakers which actually down by a percentage of four on comparison with previous month and down by 11 percent from April 2010. So the automakers have pulled back their strings.
With most of the automakers hold their incentive strings back, General Motors’ have further loosened up by spending $688 million on incentive to get the cars moving. The estimate from TrueCar shows that the incentive is up by 6.3 percent on comparison with the last month and a percentage of 5.8 from last April.
Though the statistics showcase the people’s interest on compact cars and vehicles that are more fuel efficient, the car companies have been least affected by the earthquake in Japan. In the month of May, they are to face the reality of shortages in inventory due to short supply.