The subcompact car segment in the US is losing share in the first three quarters of 2022, with sales falling 44% in an overall market down 13%. In Q3 the class was down 21% in a stable overall market. With just under 90,000 deliveries, subcompact cars now make up just 0.9% of the US passenger car market, down from 1.4% last year. Not surprising if you consider that only four models from three brands will remain in this class, as all other brands have withdrawn.
The ever-increasing popularity of crossovers and a worldwide shortage of supply causing manufacturers to prioritize higher-margin models are of course the main factors for this decline in both availability of models and thus market share. The Kia Soul holds on to its top spot with sales down 26% on last year, and grows its share of the class to a dominant 49.7% and outselling its closest rival by more than 2-to-1. This closest rival is its stablemate Kia Rio with a share of 22.7%, which means Kia sells over 72% of all vehicles in this segment. The Rio is down just 15% this year, while its sibling Hyundai Accent is the only model in the black with a 3% increase in third place. The Accent even saw an impressive 66% gain in Q3 when it outsold the Rio. Former class leader Nissan Versa loses 82% of its sales to fall to fourth and last place among survivors with a share of 10.4%. That means in the first three quarters of 2022 almost nine out of every ten subcompact cars sold in the United States came from a South-Korean brand. The Chevrolet Sonic, Fiat 500L, Honda Fit and Toyota Yaris have been pulled from the market.
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