According to the latest Kelley Blue Book Market Intelligence Brand Watch study, Korean automaker Hyundai has made its first foray into the top five most-considered auto brands among new-car shoppers, ousting Japanese brand Nissan into sixth place. Domestic auto manufacturer Ford continues its reign in the top spot as the most-considered among the 37 new-vehicle brands tracked in the Kelley Blue Book Market Intelligence study, followed by Toyota, Chevrolet, Honda and Hyundai, respectively.
Kbb.com Brand Watch Q2 2010 Study
Top Five Most-Considered Auto Brands Overall (Regardless of Segment)
- Ford – 29%
- Toyota – 22%
- Chevrolet – 21%
- Honda -20%
- Hyundai – 13%
According to the Q2 2010 Brand Watch Study, over the past quarter Hyundai consideration has surged nearly six percentage points in the non-luxury coupe/sedan/hatchback segment, now garnering 29 percent of the total consideration among shoppers of this segment and bested only by Honda (45 percent), Toyota (42 percent) and Ford (38 percent).
“The latest Kelley Blue Book Market Intelligence findings show how the deck is being reshuffled in the automotive marketplace, with certain brands now holding places in consumer perception that we may not have believed just one or two years ago,” said James Bell, executive market analyst for Kelley Blue Book’s kbb.com. “Ford continues its upward trajectory and Hyundai is truly on a roll. Both brands prove that when you make dynamic, exciting and affordable products that appeal to the new-car shopping masses, consumer perception begins to change and subsequently, sales will follow.”
For Q2 2010, new-car shoppers rank durability/reliability, driving comfort, fuel efficiency, driving performance and safety (respectively) as the top five important factors while shopping for their next new vehicle.
The Q2 2010 Kelley Blue Book Market Intelligence Brand Watch Study was fielded to more than 3,000 in-market new-car shoppers on Kelley Blue Book’s kbb.com from April 6 – June 17, 2010. Kelley Blue Book’s Brand Watch is an ongoing study tracking and trending consumer perceptions, detailing strengths and weaknesses of makes within each segment. Brand Watch primarily tracks brand consideration, segment consideration, important consideration factors for new-car shoppers, and how brands perform on those important factors. Kelley Blue Book Market Intelligence has been tracking Brand Watch since 2007.