Hyundai Doing Really Well
While other car makers seem to be struggling for profits, Hyundai has continued to show that money can be made even during a recession.
Hyundai announced a 47% increase in car sales over the same period last year. It was also a 33% increase over last month. Those are phenomenal numbers, and the types of things American car makers need to learn from.
First, who can be mad at a 100,000 mile – 10 year warranty? Second, the price of their vehicles is nominally lower than their American counterparts. Their cars are fuel efficient, with even their SUVs getting close to 25 miles a gallon. And one of their cars, the Genesis, is the the most-awarded new car of 2009, with
over 20 awards.
That Hyundai doesn’t dominate the market is surprising. Okay, I don’t have a Hyundai, but my wife does, and one of my best friends does. I own a Kia which, not surprisingly, just had its best month ever, with an increase of 60% from last year at this time, and up 37% from the previous month. They offer the same 100,000 mile – 10 year warranty.
Well, at least Ford did okay, as they had a 17% increase from last August. GM and Chrysler,… well, I guess they need some more bailouts. Either that, or a quick call to Hyundai or Kia for help.