August Auto Sales: 8 Percent Gain Pushes Hyundai to New High-water Mark
U.S.-built Models Remain in High Demand
Although its growth rate has slowed appreciably during the past year, and it did underperform the industry again last month, Hyundai’s 8 percent August sales bump was enough to bring 66,101 deliveries, and that, in turn, was enough for a new August sales record for the company. Uncoincidentally, Hyundai also delivered a new U.S. manufacturing milestone last month, which was a key difference-maker.
“With our U.S. plants setting another production record in August, our dealers are seeing some inventory relief, with more car transporters unloading fresh new Hyundai models at their dealerships,” said John Krafcik, president and CEO of Hyundai Motor America. “Last month, we also saw the impact of improved Genesis and Equus availability, with Equus hitting an all-time sales record with the launch of the 2014 model and Genesis sales up 30 percent.”
That production news also bodes well for customers of the three core vehicles that Hyundai currently builds in this country: the Hyundai Elantra, Hyundai Santa Fe and Hyundai Sonata. The first pair enjoyed strong sales last month despite the company’s production challenges, with the compact Elantra selling 24,700 units (+37 percent) and the Santa Fe compact crossover delivering 8,102 units (+79 percent), but Hyundai’s midsize sedan had been having some trouble keeping up with customer interest. As the brand noted, “sales have been constrained by production capacity limitations at the Hyundai Alabama plant which is now running a three-shift, 24-hour-a-day operating pattern to meet demand.”
Added Dave Zuchowski, executive vice president of national sales for Hyundai Motor America: “You always hear about the strong summer selling months but it’s still particularly gratifying to experience it first hand, as we did in August, leveraging high consumer demand with a great lineup of products to continue our string of record-breaking volume months. We have good momentum, innovative marketing and incentive support, excellent inventory balance, and a steadily improving economic climate so we feel pretty bullish about the final four-month home stretch of 2013.”