There is a lot more Hyundais and Kias in wealthier cities of the United States, especially in Downtown Houston where my kids attend school. Why are they so popular despite the online discussions?
I’d argue it’s all about the aesthetics. Recently, Kia and Hyundai have been designing cars that appear much more luxurious than their actual price suggests. My educated guess is that this approach allows them to be flashy while still being budget-conscious.
One of the richest people I know keeps his house at 60 degrees in the winter and 80 in the summer. When I asked him why, considering he could easily afford to be comfortable, he replied, “I didn’t get rich by writing big checks to other people.” Most genuinely wealthy individuals aren’t interested in flashy cars.
They are fairly affordable considering the features you get, although this comes at the cost of build quality and reliability compared to the more dependable brands. They do offer long warranties.
Since buying a new car is inherently expensive, this provides a way for someone to purchase a new vehicle that isn’t overly costly and likely comes with a variety of appealing options.
Due to rising incidents of car break-ins, these brands are losing popularity quickly. A friend purchased a Toyota in 2016 for $40k out the door, while my 2017 Kia cost $25k.
Now, a new Toyota costs about $43k, and a Kia is around $44k. If I were buying today, I’d choose the less expensive Toyota.
The theft issue primarily impacts base trim models, so wealthy buyers aren’t concerned with that, making it a non-issue.
Besides that, their reliability has been fairly good, and I believe their style is much better than many other brands on the market.
People love to criticize Hyundai and Kia right now, but if you look into other brands, you’ll find many are facing challenges as well. For instance, Toyota had federal agents raid a plant and has been involved in long-standing scandals, while Honda faced 5 million recalls in 2033. Tesla is also experiencing significant problems.