After a year of abandoning the compact car segment in order to prioritize the SUVs by Chevrolet and Ford, they have been met by buyers who are in the mood to abandon those cars as well and go for the option of Hyundai, Honda and Toyota.
Close to 42 % of the owners of the Chevrolet Cruze compact car have preferred to stay in the compact car segment and a major percentage of the owners have switched to buying the vehicles of the competitors as per a study of the industry which had been conducted and this study finds that the market share has been declining for the makers from Detroit and it is a cause for concern as it is also showing a decline in the brand loyalty.
The vice president of Hyundai has said to the media that there are close to 6.5 million owners of cars who do not have a sedan which is going to succeed and take them to their next car from the manufactures of their cars. 44% of the ones who have said that they desire a sedan and so if the numbers are being looked at, there are a lot of buyers who are potentially out there.
He has noted that after Chrysler had dropped their sedans after the model year of 2017, the market has seen an exodus of 20 nameplates from the market of sedans.
The study has focused particularly on the compact cars that is the biggest market among cars and has a market share of 9.1 % today in the United States. Both the Ford Focus and Chevrolet Cruze have exited from this market in 2018.
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