Hyundai Builds Market Share With Good Design Value and Low Prices

Washington DC September 22, 2009; The AIADA newsletter reported that it was not exactly a planned strategy, but the recession, particularly in the United States, has been very good for Hyundai. According to the New York Times, after years of struggling to prove to consumers than it was more than a second-tier brand, Hyundai Motor America and its affiliate, Kia Motor America, accounted for 8 percent of the new-vehicle market in the United States in August, more than Chrysler's 7.4 percent.

The company sold more than 60,000 vehicles last month as buyers rushed to take advantage of the government's Cash for Clunkers program before its end. The carmaker's sales topped August 2008 by 47 percent — total industry sales were up only 1 percent.

Hyundai and Kia both expect to sell more vehicles in the United States this year than they did in 2008, a claim that only one other automaker, Subaru, can make.

Hyundai's Exhibit A is the Genesis, a luxury sedan that was named North American car of the year at the Detroit auto show in January. Its lowest-priced model, the Accent, sells for just under $10,000 for the base package. The Genesis, its most expensive model, starts at $32,250.