Toyota loses its top spot in Kelley Blue Book's (KBB) brand loyalty ranking. The No. 1 spot now belongs to South Korean Hyundai. More new owners are picking Hyundai over any other brand. KBB said that in its latest study made in February 2010, Hyundai got the largest increase in loyalty, with 10.4% of new brand owners picking a Hyundai.
Hyundai is up from the third place in the last quarter of 2009. John Krafcik, Hyundai Motor America CEO described 2009 to be an unprecedented year for the Hyundai brand but that the company is well poised to maintain this momentum in 2010.
To attain its targets, Toyota is relying on its new vehicle, the all-new Sonata, as well as its dedication to deliver stylish, fuel efficient and affordable vehicles.
KBB also revealed that the 2011 Sonata was included in the Top 10 Most-Researched New Vehicles list. In particular, this vehicle ranked fifth among most researched vehicles, following the Accord, Civic, Camry and CR-V.
James Bell, executive market analyst for Kelley Blue Book said that Hyundai's momentum is claimed to be largely caused by the introduction of new products like the 2011 Sonata and 2010 Tucson.
Bell said that to sustain its sales momentum, Hyundai would have to continue to promote its attractive new-vehicle lineup, solid warranty offer and strong price-points to new-car shoppers.