3 Car Companies Enjoying Plenty of Momentum Right Now
How do you gauge a car company’s success? By looking at sales? Market shares? Awards and accolades? Hashtags and likes on social media? Truth is, any and all of the above are good answers.
When looking at the auto industry right now, one could argue that a number of brands are on a roll. And if you want examples, we have three that we’d like to highlight.
Hyundai
Hyundai Motor Group increased its global sales by 3 percent in 2022, reaching nearly 7 million units. That’s including luxury brand Genesis and sister company Kia, of course, but good enough for third place behind Toyota and Volkswagen. Not bad for an automaker that was originally known for producing cheap cars such as the Pony, which is turning 50 this year.
Hyundai’s latest chapter centres around a new generation of electric vehicles built on its E-GMP architecture. The first two couldn’t be more different in terms of styling. We’re talking about the IONIQ 5 crossover and the IONIQ 6 sedan, both of which pulled a rare triple win at the World Car Awards in back-to-back years—World Design of the Year, World Electric Vehicle of the Year and World Car of the Year. How impressive is that?
Oh, and the best-selling small SUV in Canada, the Hyundai Kona, is getting completely redesigned for 2024. One more reason for people to say “Wah!”
Polestar
Swedish EV company Polestar, which was founded in 2017 and is jointly owned by Volvo and China’s Geely, topped 50,000 units sold globally last year and nearly doubled its revenue. It’s targeting 80,000 units in 2023 and then 290,000 by mid-decade.
In addition to the Polestar 2 liftback sedan, the lineup will soon include the sporty Polestar 3 crossover, set to be produced in South Carolina. In 2024, it will expand further with the Polestar 4, which we saw at Auto Shanghai recently and slots between the 2 and 3 in terms of size and price. This new electric crossover coupe will be the brand’s quickest-accelerating production model to date, sprinting from 0-100 km/h in 3.8 seconds thanks to maximum output of 536 horsepower.
We also know there will be a Polestar 5 and a Polestar 6, the latter having made its Canadian debut in concept form just weeks ago. It’s a 2+2 roadster with angular styling and a muscular stance—voted Best New Design of 2023 by The Car Guide.
Subaru
The Japanese car company most famously known for its symmetrical AWD system continues to set sales records in Canada and rack up various awards, including a few from the Canadian Black Book (best retained value) and another from the Automobile Journalist Association of Canada (best safety tech innovation: next-gen EyeSight). That’s in addition to the Top Safety Pick ratings given by the IIHS to the Ascent, Outback, Legacy and Forester, not to mention the all-new Solterra electric crossover.
Meanwhile, two highly important vehicles for Subaru have been redesigned and thoroughly improved for 2024. We’ll find them on the road pretty soon. The Impreza will please drivers with the addition of the 2.5-litre engine producing 182 horsepower and the return of the sporty RS trim. As for the Crosstrek, a Canadian favourite, racier looks, updated technology and a more off-road capable Wilderness model will ensure it continues to enjoy plenty of success.
