Hyundai and Kia increase their auto sales to young US customers.
Since 2008, GM, Ford and Chrysler increased their share of retail registrations by 1.9% for the 18- to 24-year-old customers and by 1.5% for the 25- to 34-year-old buyers, according to R.L. Polk & Co. and Edmunds.com. Kia and Hyundai managed to boost sales by 6.8% and 5.1% among these customers in 2012. After they lost a generation of customers to Japanese car makers led by Toyota and Honda, ford, Chrysler and GM have begun to focus more on the smaller car segments to attract younger US buyers.
“U.S. automakers have burst onto the scene in recent years with small, fuel-efficient and affordable cars that really appeal to a young set of buyers,” Jessica Caldwell, an analyst with Santa Monica, California-based Edmunds, said in a statement.
Japanese automakers became the leaders of the industry with 42.6% of retail sales to 18- to 24-year-old customers and 42.9% to 25- to 34-year-old customers. Since 2008, the automakers lost 9.8% and 7.7% in those categories. Automakers in Europe increased their retail sales share by 7.1% to 18- and 24-year-old customers and 9.8% to 25- to 34-year old buyers.