Hyundai sales numbers continue to grow, despite reducing its advertising

Article by Christian Andrei, on November 24, 2010

Hyundai Motor America claims that after having been offered on the market for two years now, the Genesis sedan and coupe still haven’t lost their shine. In fact, Hyundai’s near-luxury Genesis sedan won the coveted North American Car of the Year honor and received other awards in 2009.

Meanwhile, the more performance-oriented Genesis coupe, which debuted in mid 2009, has been applauded by enthusiasts everywhere.

HMA President and CEO John Krafcik said that the Hyundai brand was helped by Genesis from a “halo perspective.” Krafcik said that Genesis had made the brand more credible just as it was preparing to launch cars such as the Sonata and the Tucson.

He explained that because of the success of those cars, it reflects back positively on Genesis, citing that marketing costs haven’t been that high.

Krafcik said that Hyundai has made major cuts on its advertising spending compared to the $80 million spent during Genesis’ launch year but the nameplate is still racking up positive data points. Krafcik said that the car’s strength is proven by its 16 straight monthly year-over-year sales increases.

Last October, Genesis sales had increased by 49.5%, compared with a year ago. Krafcik pointed out that the Genesis coupe had a record month in September and it has a 5%-6% retail share in a segment that includes such competitors as the Chevy Camaro, Ford Mustang and Dodge Challenger

. He said that when the company compares year-over-year, it finds that it has performed better – a difficult feat especially in this segment. [via Ward's Auto]

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