Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Hyundai Takes Pole Position In U.S. Sales Growth

Hyundai sales in the United States have jumped by a huge 41.7% over the past 12 months – seeing the marque take number 1 position in terms of annual sales growth.

Hyundai had sales of 346,235 for the calendar year, up from 244,391 in 2001. The strong result grew Hyundai’s total market share by 0.6% to 2%, catapulting it above Asian competitors like Mitsubishi and Mazda and local brands Mercury, Saturn and Oldsmobile.

“The result is a reflection of strong market demand,” says Hyundai NZ General Manager Philip Eustace. “The cars are selling as fast as they come off the ships.”

In fact, such is the demand for Hyundai in the American market, that dealers are pressing for the opening of a U.S. assembly plant – in order to counter the short supply.

Despite not having a local plant, Hyundai still scored highly in the recent 2001 Dealer Attitude Survey. The survey ranks marques in terms of dealer satisfaction with the manufacturer and of the 31 companies included; Hyundai scored an impressive 5th place.

“It is extraordinary to consider that Hyundai has scored well ahead of companies like Mitsubishi (16th) and Mazda (25th) in this survey – both of whom have been long-term players in the American market,” says Mr Eustace.

“And the two big guns in the U.S. market – Ford and Chevrolet – only rated 26th and 22nd in the survey, despite continuing to hold their traditional market share.

“The implications for the Hyundai brand are significant,” says Mr Eustace – who cites quality and value as being the key drivers for the brand’s ready acceptance in a market that is traditionally hard to crack.

“The Americans have obviously recognised the vast improvements in quality, technology and design – as is evidenced by both dealer acceptance and strong retail growth,” he adds.

“The challenge for Hyundai now is to meet the increasing demand and cement its growing reputation in the US market.”

ENDS


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>

ALSO:

Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>

ALSO:

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news