DETROIT — It was not exactly a planned strategy, but the recession, particularly in the United States, has been very good for Hyundai, the South Korean automaker.
After years of struggling to prove to consumers than it was more than a second-tier brand, Hyundai Motor America and its affiliate, Kia Motor America, accounted for 8 percent of the new-vehicle market in the United States in August, more than Chrysler’s 7.4 percent. The company sold more than 60,000 vehicles last month as buyers rushed to take advantage of the government’s cash-for-clunkers program before its end.
3 comments:
It is interesting to notice how many more Hyundais I see on the road these days because of the economy. I am surprised that you don't see some other automotive brands that were considered "cheap" alternatives or any other kinds of industries trying to take advantage of the current spending habits of consumers right now.
I have to agree with Brandon because there are number of other second-tier brand name cars in the United States. Its interesting that Hyundai has been able to pass Honda, ford and chrysler dealers which are about the same level in pricing. The article makes a good point about what consumers are thinking "is it worth the extra 5000"? It shows consumers are spending their money wisely on more affordable items.
Hyundai have really shown that they are an innovative car company with their aggressive marketing schemes and new-product line, especially during testing times for the car industry. GM and Ford should take a good look at what Hyundai have accomplished after years of struggling to prove to consumers that they are more than a second-tier brand. Furthermore, they are only third behind Toyota and Honda in the industry's highest fuel economy. This feat was accomplished with NO hybrids in its lineup! I find this to be quite astonishing and I imagine once a hybrid is introduced to the market they will continue to make huge strides in growth.
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