Hyundai and Dodge embrace crowd-funding strategy

Article by Anita Panait, on June 7, 2013

The Hyundai and Dodge brands are trying to cash in on the increasing interest for crowd-funding, a strategy that attempts to raise funds from “crowds” through the Internet. For the two brands, they are the first to embrace this concept of raising funds, although they posted varying results in terms of sales.

Hyundai is currently in partnership with Motozuma.com, an online crowd-funding platform developed to help consumers raise funds through contributions from friends or family for a new car.

Hyundai then matches the contributed amount dollar for dollar, up to $500. Hyundai disclosed that it sold around 1,600 cars through the crowd-funding program in 2013 – equivalent to just a quarter of one percent of the 703,007 new vehicles the brand sold in the United States the same period.

Dodge, on the other hand, has launched the Dart Registry, a web site similar to a wedding gift registry. Through the Dart Registry, one can customize a Dart online and invite friends and family to "sponsor" different parts of the vehicle. So far, Dart Registry has sold only two vehicles.

Dodge, however, remains positive with the program, saying that it is doing what it is supposed to. Melissa Garlick, head of Dodge brand advertising, noted that the primary goal of the Dart Registry was not actually to rack sales, which is of a less priority. She said that the since the Dart is an all-new entry to the highly competitive compact-car segment, Dodge wanted to create awareness and get the Dart talked about. [source: automotive news - sub. required]

Topics: hyundai, dodge

If you liked the article, share on:

Comments

Recommended

t seems as if something had flown out of the drawing board. Kind of. Before the Korean carmaker holds its official debut this year, sketches of the updated 2018 Hyundai...
by - February 28, 2017
At the 2017 Mobile World Congress held in Barcelona, SEAT gave the public a taste of what it believes is the future of driving. For the company, this is about...
by - February 28, 2017
It was in April of last year when Honda first revealed plans that it was planning to build a plug-in hybrid version of the Clarity. There will also be an...
by - February 28, 2017
More efficient, more power and longer range. This is how we could best describe the electric version of the Volkswagen Golf for the 2017 model year. In terms of efficiency,...
by - February 28, 2017
If you think you’re all ready for the new 2018 Audi S4 sedan when it arrives in the United States this spring, then better make sure that your pockets are...
by - February 28, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries