Hyundai Germany: Increasingly Popular with Fleets

In 2022, Hyundai again achieved strong results in Germany: With 105,074 new registrations and a market share of four percent, the Korean manufacturer clearly remains the number one among Asian importers in the German market.

The fleet business is becoming more important

Increasingly, the fleet business with commercial registrations is also contributing to solidifying this position. In 2022, Hyundai Germany recorded a significant increase of 17.6 percent in this segment, reaching 21,690 registrations; the market share in the segment improved from 2.3 to 2.5 percent.

Hyundai offers three electric models: Kona, Ioniq 5, and Ioniq 6

Many companies are setting ambitious environmental and climate targets for their vehicle fleets, for which Hyundai’s range offers a wide selection of electrically driven and electrified models. Among fleet customers, alternatively powered Hyundai models had a share of 62 percent in 2022, with 44 percent being purely battery-electric vehicles. By contrast, in the entire fleet market, the share of alternatively powered cars was 34 percent, and battery-electric vehicles accounted for only 17 percent.

From 2035 only emission-free Hyundai models in Europe

Thus, Hyundai fleet vehicles also play an important role in the transformation of the automotive market towards electromobility. From 2035, Hyundai will only deliver emissions-free cars across Europe. Even today, electric drive systems are built into two-thirds of all Hyundai model series: mild-hybrid, full-hybrid, plug-in hybrid, battery-electric, and fuel cell. From 2026, Hyundai Germany will have alternative drives in its portfolio for all model series.

The fleet business will also be further strengthened in retail – with Fleet Business Centers

Another reason for Hyundai's success in the German fleet market is the professionalization of the fleet business. The main support in this regard is the so-called Fleet Business Centers (FBC), of which there are currently 65 (including four branches) in Germany. These centers now handle 58 percent of Hyundai’s fleet business. The Fleet Business Centers are selected and specially trained Hyundai dealerships and not only have particularly attractive leasing and financing offers for small and medium-sized fleets but also tailor their services to this customer group.

Specially Trained Dealers for Fleet Customers

Hyundai FBCs provide extended mobility offerings and make fleet-relevant demo vehicles available for longer test drive periods. Additionally, they offer extended and special opening hours and personal support. Fleet customers receive workshop appointments within 24 hours along with a free replacement vehicle. A pick-up and drop-off service is also part of the offerings.

The FBCs are continuously further qualified by Hyundai: all Fleet Business Centers have already completed specialized qualification workshops. This year, an individual coaching program is also running, in which 36 Fleet Business Centers are currently participating. These training measures further enhance the expertise of the participating Hyundai dealerships, especially in the area of electromobility.

Important for Fleet Customers: Attractive Residual Values that Lower Rates

For fleet customers, the residual value development of leased or financed vehicles is particularly important. At Hyundai, the average residual value after three years of ownership has steadily increased and is currently at 62.3 percent (Source: Autovista Residual Value Intelligence; March 2023; 36 months/15,000 km p.a.). It is all the more gratifying that the new Ioniq 6 was able to achieve a residual value forecast of 64 percent in the current Car-to-market study.

What Does This Mean?

Hyundai also places great importance on the fleet business but does so in a relaxed manner: the aim is not to compete with discounts, but with products and service, and Hyundai continues to expand in these areas.