November Auto Sales: Hyundai Turns the Corner with Record Performance
4.7 Percent Growth Comes as Company Works to Meet High Demand
Although hearing about Hyundai’s low inventories is getting to be a bit of a broken record, the automaker’s sales also continue to fall into that category. In fact, Hyundai broke another sales record just last month, delivering 56,005 new vehicles and outpacing its results from November 2012 by 4.7 percent. Still, John Krafcik, president and CEO of Hyundai Motor America (HMA), did note that: “While we finished November still short of 2014 model year inventory, our plants are literally working 24/7 to restock our dealers with these new models, including the refreshed 2014 Elantra and updated 2014 Veloster, which both arrive in showrooms this month.”
The updates should provide some notable new momentum for Hyundai’s small-car family, which could use some: Although the Elantra was the top-selling nameplate for Hyundai in November, its 16,751 deliveries reflected modest sales growth of 5.2 percent. As for the Veloster, it was in the same boat, with a November delivery total of 2,216 units and a 6.3 percent advance in sales.
Better months were had by the 2014 Hyundai Accent and Santa Fe, however. The former, competing in the subcompact segment, leveraged a 42.3 percent sales advance to deliver 4,641 units last month; the latter, combining the efforts of the Santa Fe and Santa Fe Sport, upped sales volume by 43 percent with 9,657 deliveries.
“With inventories being replenished with new and refreshed 2014 product, November was another record month for us,” added Dave Zuchowski, executive vice president of national sales for HMA. “As consumer confidence appears to be on the mend resulting in record sales on Black Friday and Cyber Monday, the automotive industry as a whole appears to be making strong strides as the year comes to a close.”