Hyundai sales are red-hot in the U.S.
11-18-2011 | 02:05 PM
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Hyundai sales are red-hot in the U.S.
http://detnews.com/article/20111112/...hot-in-the-U.S
It doesn't take an auto insider to see Hyundai Motor America is on a roll.
Through October, South Korea-based Hyundai has sold more cars in America than it did in all of 2010. Its retail sales are up 31 percent this year, its market share continues to grow and more people than ever are considering a Hyundai as they shop for cars. Every month is a new sales record for the brand. It's getting kind of redundant after eight months in a row.
"Our goal is to build great cars," John Krafcik, CEO of Hyundai Motor America, said Friday at the company's sprawling Technical Center in Superior Township, near Ann Arbor, as he reviewed the automaker's success in 2011. "The brand is really growing, it's strong."
And the company expects to continue to grow, despite problems with keeping enough inventory on hand at dealers and finding capacity at factories. It's adding more cars to its lineup and providing innovative customer service programs, such as its guaranteed residual value plan that allows customers to know what their car will be worth three years from now.
But is Hyundai getting so big that it needs to expand its manufacturing? Krafcik declined to comment whether Hyundai is considering building another factory in North America, despite persistent prodding from the press.
"Hyundai's philosophy has always been to build vehicles where we sell them," he said. "There is no big announcement today."
Leaving everyone to speculate on what that means exactly. (My take is that eventually Hyundai is going to have to expand in America, so politicians around the country should put on their Sunday best.)
But it's the smoothness with which Krafcik deflects the question that is impressive. He has a way with the automotive press. He's relaxed around us and accessible. He rarely presents a product and then dashes off to more important people. He confidently represents his brand with pride and an enthusiasm that seems sincere.
Krafcik mirrors the brand. There's a lesson for American automotive CEOs in there somewhere.
But true confidence in the automotive world stems from good products. And Hyundai has been on a run with a string of successes, including the stylish midsize Sonata and its compact little brother, the Elantra.
The automaker recently added a redone subcompact Accent and the quirky three-door Veloster to its lineup to attract more customers.
"They just keep building good cars with lots of features at a very competitive price," said Dave Sullivan, an automotive analyst at AutoPacific Inc., as he looked at the refreshed Hyundai Azera large sedan, which will be featured at the Los Angeles Auto Show next week.
A report released Friday by the Center for Automotive Research in Ann Arbor and Hyundai examined the carmaker's impact on the U.S. economy.
Hyundai contributes more than 94,000 U.S. jobs — 33,000 directly — and $7 billion to the gross domestic product in 2011. Certainly not the kind of numbers Detroit's carmakers contribute to the GDP, but nowadays, every little bit helps.
"While the domestic auto industry restructured and contracted in recent years, international manufacturers have continued to expand their U.S. operations," said Kim Hill, director of the Sustainability and Economic Strategies group at CAR in a statement. "Hyundai's growth and the expansion of its product development and manufacturing capabilities in the U.S. have outpaced the industry and other major manufacturers.
And next year it will contribute a little bit more.
There's every reason to think Hyundai will continue to grow. No one thinks otherwise.
sburgess@detnews.com
(313) 223-3217
From The Detroit News: http://detnews.com/article/20111112/...#ixzz1e5qI393V
Through October, South Korea-based Hyundai has sold more cars in America than it did in all of 2010. Its retail sales are up 31 percent this year, its market share continues to grow and more people than ever are considering a Hyundai as they shop for cars. Every month is a new sales record for the brand. It's getting kind of redundant after eight months in a row.
"Our goal is to build great cars," John Krafcik, CEO of Hyundai Motor America, said Friday at the company's sprawling Technical Center in Superior Township, near Ann Arbor, as he reviewed the automaker's success in 2011. "The brand is really growing, it's strong."
And the company expects to continue to grow, despite problems with keeping enough inventory on hand at dealers and finding capacity at factories. It's adding more cars to its lineup and providing innovative customer service programs, such as its guaranteed residual value plan that allows customers to know what their car will be worth three years from now.
But is Hyundai getting so big that it needs to expand its manufacturing? Krafcik declined to comment whether Hyundai is considering building another factory in North America, despite persistent prodding from the press.
"Hyundai's philosophy has always been to build vehicles where we sell them," he said. "There is no big announcement today."
Leaving everyone to speculate on what that means exactly. (My take is that eventually Hyundai is going to have to expand in America, so politicians around the country should put on their Sunday best.)
But it's the smoothness with which Krafcik deflects the question that is impressive. He has a way with the automotive press. He's relaxed around us and accessible. He rarely presents a product and then dashes off to more important people. He confidently represents his brand with pride and an enthusiasm that seems sincere.
Krafcik mirrors the brand. There's a lesson for American automotive CEOs in there somewhere.
But true confidence in the automotive world stems from good products. And Hyundai has been on a run with a string of successes, including the stylish midsize Sonata and its compact little brother, the Elantra.
The automaker recently added a redone subcompact Accent and the quirky three-door Veloster to its lineup to attract more customers.
"They just keep building good cars with lots of features at a very competitive price," said Dave Sullivan, an automotive analyst at AutoPacific Inc., as he looked at the refreshed Hyundai Azera large sedan, which will be featured at the Los Angeles Auto Show next week.
A report released Friday by the Center for Automotive Research in Ann Arbor and Hyundai examined the carmaker's impact on the U.S. economy.
Hyundai contributes more than 94,000 U.S. jobs — 33,000 directly — and $7 billion to the gross domestic product in 2011. Certainly not the kind of numbers Detroit's carmakers contribute to the GDP, but nowadays, every little bit helps.
"While the domestic auto industry restructured and contracted in recent years, international manufacturers have continued to expand their U.S. operations," said Kim Hill, director of the Sustainability and Economic Strategies group at CAR in a statement. "Hyundai's growth and the expansion of its product development and manufacturing capabilities in the U.S. have outpaced the industry and other major manufacturers.
And next year it will contribute a little bit more.
There's every reason to think Hyundai will continue to grow. No one thinks otherwise.
sburgess@detnews.com
(313) 223-3217
From The Detroit News: http://detnews.com/article/20111112/...#ixzz1e5qI393V