For the first time ever, Hyundai broke into the top five brands that are most considered by new car shoppers, according to Kelley Blue Book figures recently released. Hyundai ranked fifth, which was previously held by Nissan.
In Kelley Blue Book's Market Intelligence Brand Watch study for the second quarter of 2010, new-car shoppers considered Ford the most, achieving 29% of total consideration by over 3,000 new-car shoppers surveyed by KBB from April through mid-June.
Second place went to Toyota with 22%. Chevrolet is third with 21%, while Honda comes in fourth place with 20%.
And Hyundai has 19%. Hyundai perceives this move into the top five as a proof of the effectiveness of its efforts to raise brand perception and distance itself from a reputation for making cheap cars.
In a statement, James Bell, executive market analyst for Kelley Blue Book, said that the second-quarter findings indicate how the deck is being reshuffled in the automotive marketplace.
He explained that Ford remains in an upward trajectory while Hyundai is truly on a roll. He said further that these two brands prove that new-car shoppers are attracted to dramatic, exciting and affordable products and that when consumer perception starts to change, sales will follow.