Hyundai joins the list of automakers seeking to exploit Toyota’s recall

Article by Christian Andrei, on August 25, 2010

Hyundai Motor America is the latest automaker to offer incentives to disgruntled Toyota car owners to entice them to trade in their cars for one of its own. Hyundai spokesman Chris Hosford said that through Feb. 1, consumers who exchange a Toyota to buy a Sonata, Elantra or Elantra Touring model will get $1,000 added to any other incentive.

Barclays Capital said that Hyundai is one of the automakers that it thinks is best poised to exploit the situation.

Toyota had halted the sales and delivery of eight models affected by the recall. Barclays estimates a short-term market share gain by GM of 2.4%, Honda 2.1%, Ford 1.6%, Nissan 1.1% and Hyundai 0.7%.

In a research note released recently, Barclays stated that the suspension of the sales of Toyota's bestsellers will not materially affect industry sales but that Toyota's market share will suffer somewhat.

It expects that Toyota's January sales will be down year-on-year. He also added that its 2010 U.S. auto sales forecast of 11.7 million vehicles is unchanged.

It can be recalled that last year's total was 10.4 million. Last Wednesday, GM launched a month-long incentive to Toyota and Lexus owners supposedly because it wanted to respond to the clamor from Toyota owners asking for help.

Topics: hyundai, toyota, recall

If you liked the article, share on:


Login or Create new account to add a comment!


Tesla is making sure that all models under production will receive the necessary advanced hardware that will allow them to be autonomously driven. The fitment of these advanced hardware to...
by - October 27, 2016
Wondering how fast the 2017 Chevrolet Camaro ZL1 in actual driving? To provide customers a good idea on how fast the 2017 Camaro ZL1 could really get, Chevrolet recently had...
by - October 27, 2016
So, it is official! The new Honda Clarity FCV has the longest verified range of any zero-emissions vehicle currently on the road in the United States. One of the main...
by - October 27, 2016
Many have been anticipating Mercedes-Benz Vans’ newest luxury pickup truck, the X-Class. While Mercedes-Benz has yet to reveal the official production version of the X-Class, it was kind enough to...
by - October 27, 2016
We’ve seen quite a lot of intriguing stories in the age of Internet (where the most interesting part was revealed before the story unfolds). Some are from movies and novels...
by - October 26, 2016