Hyundai reiterates 4.4% US sales growth in 2013

Article by Anita Panait, on July 16, 2013

Hyundai Motor Co. is still expecting to post a 4.4-percent sale growth in the United States in 2013, despite capping its global production capacity at around 7 million vehicles annually. Hyundai’s North American chief executive John Krafcik admitted that the carmaker’s share of the US market fell as it restricts global output to ensure that vehicle quality remains high.

Krafcik said that to keep up with demand, Hyundai is operating its sites 24-7, on three shifts and at maximum overtime. He added that the South Korean carmaker’s decision to limit output has led "110 percent" to the capacity constraints. He remarked that for now, Hyundai has taken “a couple-of-year pause," adding that he cannot say when it will end. Hyundai disclosed in May 2013 that it was mulling building new assembly sites outside South Korea.

According to analysts, labor disputes in South Korean and the rising local currency could prompt Hyundai to build more vehicles abroad.

Hyundai, however, said it has no immediate plans to build another plant in the US. Hyundai posted only a 1.9-percent gain in sales in June 2013 in a US market that grew 9 percent in the month.

Krafcik remarked that Hyundai’s sales in the US are on pace to reach 734,000 cars and sport utility vehicles, with a market share on route for 4.7 percent. In 2012, the South Korean carmaker sold 703,007 vehicles and held a 4.9-percent share of the US market. [source: Reuters]

If you liked the article, share on:

Comments

Recommended

Ferrari is cooking up something interesting for us. The last time they released the 488 GTB was two years ago, followed by a 488 Spider and several versions of it....
by - April 26, 2017
After launching the latest version of the BMW M550i xDrive, the German carmaker is now introducing its diesel counterpart -- the new M550d xDrive (G30/G31). Available either as a sedan...
by - April 26, 2017
A lot of news has been going around about the 2018 Dodge Challenger SRT Demon lately, and people are arguing whether the 840 horsepower vehicle by Fiat Chrysler should be...
by - April 26, 2017
Ford Motor Company revealed that the Mustang is the world’s best-selling sports car for 2016. This is in addition to being the best-selling sports car in the U.S. for five...
by - April 26, 2017
Bad news for BMW, their new flagship sedan, the 2017 BMW M760Li xDrive is already being recalled not so long after its release. Why so soon, you ask? Well, an...
by - April 26, 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